Barratt Developments PLC has entered into a joint venture with Homes England (the Government’s housing and regeneration agency) and Lloyds Banking Group to create master developer – the MADE Partnership.

The partnership brings together the essential skills and expertise to unlock the capital required to bring larger sites into production, enabling both major and SME homebuilders to build new homes and communities.

This is the cross-sector collaboration we need, at significant ambition and scale.”

MADE will be responsible for the overall vision and strategy as well as coordinating the wide range of stakeholders required to make developments a success.

It will be a long-term partnership, initially backed by combined equity funding of up to £150m provided equally by the partners.

Potential development opportunities include large brownfield developments, as well as new garden village-style communities.

Ramp up

Housing and Planning Minister, Matthew Pennycook said MADE 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, added: “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: “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 (in).”

And Charlie Nunn, Chief Executive of Lloyds Banking Group, finished by saying:

“This is the cross-sector collaboration we need, at significant ambition and scale.”