New master developer LLP launched by Barratt Developments PLC, Homes England and Lloyds Bank

JLL, as lead real estate and financial advisor, has facilitated a new partnership between three of the biggest players in the housing industry – Barratt Developments PLC, Homes England and Lloyds Banking Group. Together they are launching a new master developer joint venture called MADE Partnership that will focus on the master development of large sites, to help deliver thousands of much needed new homes across the country.

MADE Partnership will act as master developer for multiple large scale, residential-led developments from 1,000 to more than 10,000 homes along with a variety of community facilities and employment uses.

Potential development opportunities will include large brownfield developments, as well as new garden village style communities. The partnership brings together Barratt, the UK’s leading national sustainable housebuilder, Homes England, the Government body responsible for housebuilding and regeneration in England, and Lloyds Banking Group, one of the largest funders of the UK housing sector.

This is a long-term partnership, initially backed by combined equity funding of up to £150m provided equally by the partners. The partnership brings together the essential skills, expertise and long-term approach, with the ability to unlock and scale the capital required to bring larger sites into production, enabling both major and SME homebuilders to build the new homes and communities the country needs.

Ian Guthrie, Senior Managing Director at JLL, said: “There are insufficient experienced master developers capable, or willing, to operate at scale on a national basis – this has led to an undersupply of oven-ready development sites which in turn impacts the continual undersupply of quality housing across the country. JLL identified early that a key component to addressing this issue was the creation of a unique and scalable public private partnership – this underpinned the creation of MADE Partnership. JLL was able to combine our real estate and financial expertise and, through our client network we were able to bring these leading organisations together to create MADE Partnership. We look forward to working with MADE, and its partners, going forward to deliver strategically important sites across the country.”