Aitch Group has launched a £60m fund to build up its land bank.
The boutique developer plans to invest the cash in plots to deliver residential, student accommodation and retirement developments in London and the home counties.
The land fund will target sites without planning permission or with consent for alternative uses, but which are capable of accommodating between 50 and 250 new homes. Its target for residential land is £30m, valued at between £500 and £950 per sq ft.
Aitch has bought six London redevelopment sites in the past six months.
Earlier this year, the developer lodged plans for its largest scheme to date, with 1,250 homes in Belvedere, Bexley (pictured). Aitch Group has 310 homes and 86,000 sq ft of commercial space under construction, with more than 2,400 homes in the pipeline.
Land director Stephen Hollyoak said that the developer needed to boost its pipeline after it had “successfully built and sold out much of our current development stock ahead of programme”.
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