Making a housebuilding splash

Jules Birch

Originally posted on insidehousing.co.uk on May 14.

The entry into the UK market of an overseas company that last year built almost as many homes as Barratt, Taylor Wimpey and Persimmon combined is by any standards a big deal.

That’s even before you add what looks like a major step forward for modular building in the UK and one of the most eye-catching individual investments yet by the self-styled disruptors at Homes England.

The £90m deal involves Sekisui House, the biggest housebuilder in Japan, taking a 35% equity stake in Urban Splash’s modular House business. The Manchester-based developer will retain 60% with Noel McKee, one of its existing investors and founder of We Buy Any Car, taking what’s described as an incremental 5% stake

Homes England will take a 5% stake worth just over £3m in the company and will also be providing a £27m loan from its £4.5bn…

View original post 732 more words