9 September 2024
Barratt Developments
PLC
Launch of MADE Partnership -
A Master Developer Joint Venture
Barratt Developments PLC announces
that it has entered into a joint venture with Homes England and
Lloyds Banking Group to create MADE Partnership. MADE Partnership
will focus on the master development of large sites, to help
deliver thousands of much needed new homes across the
country.
MADE Partnership will act as master
developer for multiple large scale, residential-led developments
from 1,000 to more than 10,000 homes along with a variety of
community facilities and employment uses.
Potential development opportunities
will include large brownfield developments, as well as new garden
village style communities.
The partnership brings together
Barratt, the UK's leading national sustainable housebuilder, Homes
England, the Government body responsible for housebuilding and
regeneration in England, and Lloyds Banking Group, one of the
largest funders of the UK housing sector.
This is a long-term partnership,
initially backed by combined equity funding of up to £150m provided
equally by the partners. The partnership brings together the
essential skills, expertise and long-term approach, with the
ability to unlock and scale the capital required to bring larger
sites into production, enabling both major and SME homebuilders to
build the new homes and communities the country needs.
Housing and Planning Minister, Matthew Pennycook
said: "A failure to ensure the
development system is working properly has held back the delivery
of tens of thousands of new homes over recent years and this
Government will work in partnership with all those who are focused
on turning things around.
"The landmark new partnership
announced today will support our commitment to ramp up housing
supply and boost economic growth by developing more large-scale,
attractive and sustainable places across the country with the
homes, jobs and infrastructure that communities need to
thrive."
David Thomas, Chief Executive of Barratt Developments,
said: "We are committed to playing
our part in delivering the millions of new homes the country needs
over the next 10-20 years. To help us achieve this goal, we need to
deliver more large developments. Through the MADE Partnership, we
are creating a master developer which can manage the infrastructure
and placemaking that is needed to deliver at scale, whilst
consistently achieving the high quality and sustainability
standards that Barratt is known for."
Peter Denton, Chief Executive of Homes England,
said: "MADE
Partnership will provide a master developer platform with the
ambition and capability crucial for creating not just the homes but
the vibrant, diverse places England needs. Whether it's
transforming a brownfield site, extending an existing town, or
creating a whole new village, the partnership will have the
finance, tools, expertise and partners required to ensure a
cohesive approach to delivering a fabulous place that people want
to live and work."
Charlie Nunn, Chief Executive of Lloyds Banking
Group, said: "Our pioneering MADE
Partnership between Lloyds Banking Group, Homes England and Barratt
Developments has created a master developer - enabling the
largest-scale projects and place-based solutions to be achieved,
and helping to deliver tens of thousands of new homes which are so
urgently required. This is the cross-sector collaboration we need,
at significant ambition and scale."
For more information visit
www.madepartnership.co.uk.
For
further information, please contact:
Analyst / investor enquiries
Mike Scott, Chief Financial
Officer
John Messenger, Group Investor
Relations Director
|
07881 327 748
07867 201 763
|
Media enquiries
Tim Collins, Group Corporate Affairs
Director
|
020 7299 4874
|
Brunswick
Jonathan Glass / Rosie
Oddy
|
020 7404 5959
|
The Group's next scheduled
announcement of financial information is the AGM trading update on
23 October 2024.
Barratt Developments PLC LEI:
2138006R85VEOF5YNK
Note on forward looking
statements
Certain
statements in this announcement may be forward looking statements.
By their nature, forward looking statements involve a number of
risks, uncertainties or assumptions that could cause actual
outcomes or results to differ materially from those expressed or
implied by those statements. Forward looking statements regarding
past trends or activities should not be taken as a representation
that such trends or activities will continue in the future.
Accordingly undue reliance should not be placed on forward looking
statements. Unless otherwise required by applicable law, regulation
or accounting standards, the Group does not undertake to update or
revise any forward looking statements, whether as a result of new
information, future developments or otherwise."
Notes to
editors
About a master developer
A master developer is responsible
for overseeing and managing the development of large-scale
projects, taking responsibility for the overall vision and
strategy, and coordinating the wide range of stakeholders involved.
It assembles the land, manages the planning, installs the primary
and community infrastructure, disposes of serviced parcels of land
to homebuilders, and ensures robust long-term stewardship is put in
place.
About Barratt Developments PLC
Barratt Developments is committed to
making sustainable living a reality, building strong communities.
This year, Barratt was awarded 5 stars by its customers in the HBF
satisfaction survey for an unrivalled 15th year in a row
and received 89 NHBC Pride in the Job Quality awards, more than any
other housebuilder for the 20th consecutive year.
Barratt is the UK's leading national sustainable housebuilder,
recognised through membership of CDP's Climate Change A List, one
of fewer than 365 companies globally.
For more information visit
www.barrattdevelopments.co.uk
About Homes England
As the Government's housing and
regeneration agency we believe that affordable, quality homes in
well-designed places are key to improving people's lives. We make
this happen by using our powers, expertise, land, capital and
influence to both bring investment to communities and get more
quality homes built.
For more information visit:
www.gov.uk/government/organisations/homes-england
About Lloyds Banking Group
Lloyds Banking Group is a leading
UK-based financial services group. The Group provides a wide range
of banking and financial services, focused primarily on retail and
commercial customers.
The Group's purpose is Helping
Britain Prosper, we do this by creating a more sustainable and
inclusive future for people and businesses, shaping finance as a
force for good.
For more information visit:
https://www.lloydsbankinggroup.com/