Preferred Homes Limited (PHL) has appointed Lambert Smith Hampton to support an acquisition drive for new sites earmarked for affordable Extra Care housing developments across the country.
A Registered Provider of Social Housing, developer and long-term owner of its completed assets, PHL has set out plans to grow its portfolio, having secured £100m backing from Nuveen Real Estate and its parent, TIAA, to develop, own and manage its first eight extra care housing developments. Developments are now complete or underway in Leeds, Telford, Nottingham with two further schemes scheduled to start shortly in Bicester and Shrewsbury, and three further schemes coming forward in the South-East of England, South-West and the East Midlands.
PHL and its partners have ambitious plans to grow a pipeline of 50 schemes over the next four-to-seven years.
Providing affordable high-quality, purpose-built housing for older and vulnerable residents within our communities, PHL is demonstrating it can save local authorities more than £800,000 per scheme per year, with total savings of over £20 million over a typical nominations period of 25 years.
Findlay MacAlpine, CEO of PHL said: “Having secured significant backing from Nuveen, and with our first sites up and running, we were keen to build on this momentum and recognise we need to have boots on the ground to identify suitable opportunities for development across the country. With its extensive network of offices and agents across the country, close working relationships with numerous local authorities along with their parent company Connells links, LSH was the obvious choice to support us in our acquisition programme. Having already worked with LSH in the acquisition and planning of our Nottingham site, they already have a great understanding of what our developments can offer to local communities making it an easy decision to appoint the firm”.
Charles McLean, National Head of Land and Development at LSH added: “We are pleased to be supporting PHL in this important endeavour to source additional sites for its affordable extra care developments. These developments provide much needed high-quality accommodation for older people, helping to meet demand for affordable accommodation in many areas”.
LSH has been instructed to target sites between 1-1.5 acres in urban areas in close proximity to amenities, and whilst these can be standalone, developments can also form part of larger development proposals, with a view to delivering between 65 and 85 affordable units.
PHL provides 100% affordable rent extra care housing for older people through nominations agreements with the Housing and Care Commissioning authorities within local councils. The Registered Provider is also an Investment Partner of Homes England and securing supporting funding via the Affordable Homes Programme.
A Registered Provider of Social Housing, developer and long-term owner of its completed assets, PHL has set out plans to grow its portfolio, having secured £100m backing from Nuveen Real Estate and its parent, TIAA, to develop, own and manage its first eight extra care housing developments. Developments are now complete or underway in Leeds, Telford, Nottingham with two further schemes scheduled to start shortly in Bicester and Shrewsbury, and three further schemes coming forward in the South-East of England, South-West and the East Midlands.
PHL and its partners have ambitious plans to grow a pipeline of 50 schemes over the next four-to-seven years.
Providing affordable high-quality, purpose-built housing for older and vulnerable residents within our communities, PHL is demonstrating it can save local authorities more than £800,000 per scheme per year, with total savings of over £20 million over a typical nominations period of 25 years.
Findlay MacAlpine, CEO of PHL said: “Having secured significant backing from Nuveen, and with our first sites up and running, we were keen to build on this momentum and recognise we need to have boots on the ground to identify suitable opportunities for development across the country. With its extensive network of offices and agents across the country, close working relationships with numerous local authorities along with their parent company Connells links, LSH was the obvious choice to support us in our acquisition programme. Having already worked with LSH in the acquisition and planning of our Nottingham site, they already have a great understanding of what our developments can offer to local communities making it an easy decision to appoint the firm”.
Charles McLean, National Head of Land and Development at LSH added: “We are pleased to be supporting PHL in this important endeavour to source additional sites for its affordable extra care developments. These developments provide much needed high-quality accommodation for older people, helping to meet demand for affordable accommodation in many areas”.
LSH has been instructed to target sites between 1-1.5 acres in urban areas in close proximity to amenities, and whilst these can be standalone, developments can also form part of larger development proposals, with a view to delivering between 65 and 85 affordable units.
PHL provides 100% affordable rent extra care housing for older people through nominations agreements with the Housing and Care Commissioning authorities within local councils. The Registered Provider is also an Investment Partner of Homes England and securing supporting funding via the Affordable Homes Programme.
Related Content
Get in touch
Stephen Hemming
Senior Director – National Head of Planning Consultancy
Email me direct
To:
REGISTER FOR UPDATES
Get the latest insight, event invites and commercial properties by email