Swiss Life AM, Homes England, Capital&Centric launch UK housing JV

Swiss Life Asset Managers, Homes England, and Capital&Centric will jointly develop over 2,250 mixed-use residential homes in underserved regions across England.

C&C development

The project will see an investments of £860 mln (€1.0 bn) over the next decade.
Swiss Life Asset Managers and Capital&Centric will collectively hold a 60% stake in The Impact & Places Partnership, while Homes England will have the remaining 40%.
Homes England is the UK government’s housing and regeneration agency, while Capital&Centric is a regeneration specialist with completed projects such as Goods Yard in Stoke-on-Trent and Kampus in Manchester.
Steve Reed, Secretary of State for Housing, Communities and Local Government, said: “We will get Britain building again by backing brilliant homegrown developers like Capital&Centric, and bringing in major institutional investors like Swiss Life Asset Managers, to build the homes this country desperately needs. We are pulling every lever to fix the housing crisis and it is exactly this kind of deal that will help us build the 1.5 million homes, faster, and in the communities that need them most.”
Jan Plückhahn, head of Real Estate at Swiss Life Asset Managers, commented: “Swiss Life Asset Managers has a strong residential investment heritage, and this joint venture expands our ambition to develop housing solutions beyond our traditional markets in Switzerland, Germany and France. We look forward to bringing our financial strength and expertise, as one of Europe’s longest-standing financial institutions, to the partnership.”
Simon Century, CIO at Homes England, stated: “Attracting institutional investment into the housing sector is critical to build the new homes the country needs and contributes to the government’s ambition to build 1.5 million new homes in this parliament. This new joint venture aims to develop high-quality, mixed-use residential schemes and brings together Swiss Life’s real estate experience and expertise with Capital&Centric’s impressive residential-led placemaking focus.”
Tom Wilmot, joint managing director of Capital and Centric, added: “This joint venture brings together three like-minded partners focused on delivering high quality neighbourhoods in a range of locations. Not just in core cities but also in under-invested locations where the impact story is more compelling and the supply and demand dynamics are more favourable. This demonstrates that risk management, long-term returns and delivering positive social change are not mutually exclusive.”