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Housing Growth Partnership (HGP) II Equity Fund

23 September 2021/Categories: Grants_and_Funding

Funding for small and medium-sized housebuilders in the UK, to support the development of 10,000 new homes by 2025.

Fund Information

Funding body:
Housing Growth Partnership
Maximum value:
£ 10,000,000
Application deadline:
None specified

Background

Launched in 2015, The Housing Growth Partnership (HGP) is a social impact investor funded by Lloyds Banking Group and Homes England.

Objectives of Fund

The Housing Growth Partnership (HGP) has announced a new £300 million funding commitment to SME and regional housebuilders in the UK. HGP aims to help address housing affordability by providing support to the regional residential development community to increase the number of new homes built in the UK.

The new equity funding package will be provided via a split of £180 million from Lloyds Banking Group and £120 million from Homes England. The partnership aims to bridge the homebuilder funding gap, allowing housebuilders to build more homes across the UK and grow their businesses.

The new HGP II Fund aims to support a wider range of housing tenures to meet the UK’s diverse and evolving housing needs. Building on the success of the first HGP fund, HGP II is expected to help the Housing Growth Partnership achieve its target of supporting the development of 10,000 new homes by 2025.

The new fund will be broader in scope to enable investment into larger housebuilding projects with a development value of up to £75 million. It will offer support for the delivery of a wider range of housing projects, including Build to Rent, Regeneration and Retirement Living. The partnership will also look to prioritise projects with a greater sustainability focus, as well as those using modern methods of construction and other evolutionary construction methods.

Value Notes

The programme has an overall budget of £300 million of equity funding.

Up to £10 million per investment is available for individual housebuilders, for projects with a development value of up to £75 million.

Regional Growth Initiative

The HGP fund will also partner with the most ambitious SME housebuilders in the UK to support their growth and development through its new Regional Growth Initiative. This scheme will see HGP committing a higher level of dedicated equity support to these housebuilders over a defined period to allow them to invest in their businesses and target larger and more strategic sites.

The Regional Growth Initiative is being rolled out UK wide with the aim of trying to support the next generation of large regional housebuilders.

Who Can Apply

Experienced small and mid-sized housebuilders and developers looking to grow their business in the UK may apply.

HGP aims to invest in a wide range of residential projects from private for sale and affordable family housing to projects that include elements of Build to Rent, PRS, Regeneration and Retirement Living. Developers building between 5 and 500 units per year are eligible for support.

Previous Success

September 2021:

Since its launch, the Housing Growth Partnership has invested alongside 46 housebuilders to support the delivery of over 4,568 new homes, with nearly half now completed and sold to families across the UK.

Location

United Kingdom.

How To Apply

Applications are made online at the programme website.

Interest may be expressed at any time.

Further advice and assistance may be sought directly from the Housing Growth Partnership by emailing [email protected]

More details can be accessed here


Useful documents & links

Useful Links


Addresses and contacts

For further information on how to obtain this grant locally, please contact the following:

  1. Enquiries
    Housing Growth Partnership Manager Limited
    Housing Growth Partnership
    Housing Growth Partnership Manager Limited, 25 Gresham Street, London, EC2V 7HN
    Email: [email protected]
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