Preferred Homes has appointed Lambert Smith Hampton to support its acquisition drive of new sites for affordable extra care housing developments across the country.
A registered provider of social housing for older people, developer and long-term owner of its completed assets, Preferred Homes has set out plans to grow its portfolio five-fold over the next seven years .
The developer has secured £100m backing from Nuveen Real Estate and its parent TIAA to develop, own and manage its first eight extra care housing developments.
LSH has been instructed to target sites between 1 and 1.5 acres in urban areas, close to amenities. While these can be standalone, they can also form part of larger development proposals, with a view to delivering between 65 and 85 affordable homes.
Preferred Homes provides 100% affordable rent extra care housing for older people through nominations agreements with the housing and care commissioning authorities within local councils. The registered provider is also an investment partner of Homes England and secures supporting funding via the Affordable Homes Programme.
Preferred Homes has developments complete or underway in Leeds, Telford, Nottingham, Bicester and Shrewsbury, with two further schemes in planning in the South of England.
Preferred Homes and its partners have plans to grow a pipeline of 50 schemes over the next four-to-seven years.
“With its extensive network of offices and agents across the country, close working relationships with numerous local authorities, along with their parent company Connells’ links, LSH was the obvious choice to support us in our acquisition programme.
“Having already worked with LSH in the acquisition and planning of our Nottingham site, they already have a great understanding of what our developments can offer to local communities making it an easy decision to appoint the firm”.
Image: Hunslett Moor House, Leeds © Preferred Homes
Send feedback to Akanksha Soni
Follow Estates Gazette
