Japan’s biggest housebuilder will move into the UK housing market with immediate effect after striking a multi-million pound deal that will see it work with Homes England and Urban Splash to deliver thousands of new homes across England.
Sekisui House, one of the world’s leading housebuilders, are pioneers of modern methods of construction, where homes are built in factories and then shipped out to sites.
The £90m deal, which has been facilitated by lead real estate and financial advisor JLL, comprises a total new investment of £55m into regeneration company Urban Splash’s ‘House’ development business. It provides a significant boost to the UK’s modular housing industry and will help to speed up production of much-needed new homes.
Sekisui House have invested £22m of new equity, with £30m of equity and debt funding coming from the Government’s Home Building Fund, administered through Homes England.
Experienced entrepreneur Noel McKee, founder of We Buy Any Car, has also made a sizeable investment in the new partnership and will take an incremental c 5% stake.
Yoshihiro Nakai, President and Representative Director of Sekisui House Ltd said: “We are extremely pleased to be able to work together with Homes England and Urban Splash to establish our operations and help to create outstanding communities in the UK.
“Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths. Our technology and know-how can help resolve pressing social issues in the UK, and I want to see us play our part effective immediately. These operations can also help bring vitality to UK regions, and we will work to make the strongest connections with the local communities.”
‘House’ is expected to deliver thousands of homes across England using modern methods of construction.