Places for People has agreed a partnership with Countryside to acquire 10,000 homes over the next 10 years.
The deal supports a major expansion of Countryside’s Partnerships business.
The partnership aims to deliver the homes across different tenures, including at current projects, at larges sites across the UK.
It follows recent agreements from Countryside with Sigma Capital and EQT to deliver 367 homes in the first phase of a £1bn London PRS venture and with Goldman Sachs to deliver 1,000 homes over three years.
Last year, Places for People agreed a £100m deal to acquire 750 homes with ilke Homes, in the largest UK modular housing commitment to date.
David Cowans, group chief executive for Places for People, said: “For our future housing market to be successful, we need to provide more housing choice, improve quality and increase efficiency.
“Working with Countryside, a business that shares our commitment to creating well designed, sustainable communities, will help us deliver quality homes that provide choice and meet people’s needs and aspirations.”
Iain McPherson, group chief executive for Countryside, said: “Our business has a proven track record and, together with our clear strategy for growth, we look forward to continuing to work with our partners as we focus on the delivery of high quality and sustainable mixed-tenure communities.”
Countryside is seeking to triple its Partnerships development to 10,000 homes a year by 2025, supported by its modular housing initiatives. The board has appointed Rothschild to advise on the separation of the housebuilding business, where it believes growth opportunities are restricted.
In full-year results reported today, it announced the appointment alongside the departure of chairman David Howell. The news follows activist pressure from Browning West, which owns 9.4% of Countryside.
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