Estate agents could soon be selling modular homes built by a Japanese company following a £90 million house-building partnership with Manchester developer Urban Splash.
Called Sekisui House, the company is a household name in Japan and pre-fabricates its homes in factories before shipping them out to sites to be assembled. It also has operations in the US, Australia, China and Singapore and has so far built two million homes around the world.
It has signed a partnership with Urban Splash that will see ‘thousands’ of modular homes erected across the UK and also help the Castlefield-based developer expand into a nationwide homes builder.
The Japanese company has taken a £55 million stake in Urban Splash and now owns 35% of the company while government agency Homes England has chipped in £30 million of equity and debt funding. WeBuyAnyCar.com founder Noel McKee has taken a 5% stake in the company.
“Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths,” says Yoshihiro Nakai, President of Sekisui House (left).
“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.”
Sir Edward Lister, chairman of Homes England, says: “ “When Homes England launched last year we said we’d disrupt the housing market to increase the pace of construction. By helping bring one of the world’s largest and most innovative house builders to UK shores, we’re putting our money where our mouth is.”
Urban Splash says it hopes the deal will make it the “housing partner of choice for both public and private landowners”.