UK: Developer Weston Group is launching Weston Partnerships, a new division focused on development partnerships and JVs with funds that manage BTR portfolios.
The new division has already entered into an agreement with Royal London Asset Management, part of Royal London, the UK’s largest mutually owned pensions company, to provide BTR homes across two developments, Bracknell Beeches, and Town Quay, Barking. These will deliver 411 properties with Weston Homes overseeing the construction.
In the local authority housing sector, it has entered into an agreement with Barking and Dagenham Council, via Be First, the Council’s regeneration arm, enabling the delivery of local authority affordable housing at Town Quay in Barking.
Weston Group CEO Peter Gore said that in addition to its existing affordable housing programme and market sale activities, the strategic expansion will also leverage Weston Group’s varied new-build, conversion and build-off-site expertise.
Steve Hatton, development director of Weston Partnerships, said: “I am delighted to lead Weston Partnerships, which is part of the group’s expansion into the Build-to-Rent, Local Authority Housing, retirement and student accommodation sectors, amongst other parts of the housing industry.
“Our priority is to work closely with our partners to help accelerate housing delivery, improve affordability, drive MMC innovation and uphold the highest construction standards. Through this expansion, we are well positioned to make a meaningful impact on the future delivery of housing.”
Gore said: “The BTR, local authority and some of the other deals we have already secured have the advantage of being forward funded providing an upfront income stream which is highly advantageous for our cash flow and financial strength.”
Bob Weston, chairman of Weston Group, added: “By harnessing our industry experience and British Offsite’s advanced construction technology, we can build more efficiently and at greater scale. This initiative reinforces our dedication to delivering sustainable communities while strengthening our partnerships across the housing sector.”
