Sector - Public Sector
Japanese housebuilder comes to UK
Japan’s biggest housebuilder Sekisui house has struck a deal with Homes England to build thousands of homes across the UK.
Sekisui House is a leading global housebuilder known for modern homes and modular building. They have struck a £90million deal which includes a 35% stake in Urban Splash’s ‘House’ development company.
Sekisui House have invested £22m of new equity, with £30m of equity and debt funding coming from the Government’s Home Building Fund, administered through Homes England. It is hoped that the partnership will generate thousands of sustainable homes in a quick and cost-effective method, helping the government achieve its goal of 300,000 new homes.
Yoshihiro Nakai, President and Representative Director of Sekisui House Ltd said: “We are extremely pleased to be able to work together with Homes England and Urban Splash to establish our operations and help to create outstanding communities in the UK.”
“Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths. Our technology and know-how can help resolve pressing social issues in the UK, and I want to see us play our part effective immediately. These operations can also help bring vitality to UK regions, and we will work to make the strongest connections with the local communities.”
The deal was overseen by real estate and financial advisor JLL and entrepreneur Noel McKee took on a large 5% stake. It is hoped the deal will facilitate growth in the country’s modular building industry, which speeds up construction by creating large components in a factory and delivering them to sites.
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