Joint venture will develop host of new-build care schemes
North West-based property investment and development company, Cityheart, has joined with HBV Group to form a joint venture that will deliver a UK-wide pipeline of new-build developments, including several in the North West.
Known as HBV Cityheart, the JV will see Cityheart fund an initial pipeline of 10 new HBV Group projects during the next 18 months. HBV will also support Cityheart through its public procurement programme to deliver extra care schemes across its portfolio and join its future bids programme.
The JV will also expand into developing care homes with several sites already secured in the North West.
HBV Group, based in Knutsford, is a developer of new-build supported living accommodation. These developments are occupied by people with physical disabilities and learning disabilities and tenants are referred into the schemes by officers at local authorities.
HBV collaborates with housing associations, care companies and local authorities across the country. Over the past 15 years it has delivered more than 60 supported living and extra care schemes which are supported with assistive technology to provide some of the most innovative and energy efficient schemes within the sector.
Chester-based Cityheart, which also has offices in Wilmslow, is an award-winning property development and investment company that specialises in delivering major town centre regeneration schemes through successful public private partnerships as well as student accommodation and affordable housing schemes across the country.
Jonathan Wrigley of HBV Group, said: “This JV builds on a long standing relationship between the two organisations and enables both our businesses to expand and fill the gap in the market for high quality new-build accommodation for people who need extra support.
“HBV Group will also support Cityheart on its own pipeline of developments where there are elements of housing with care. Together, we will continue to deliver innovative and progressive schemes and we’re committed to setting new standards across all of our developments.”
He added: “We share the same ethos of creating living spaces that make communities stronger and more connected. This deal supercharges our strong pipeline of supported living schemes across the country which include several sites in the North West.”
Mark McNamee, Cityheart managing director, said: “We’re pleased to officially confirm our joint venture with HBV Group.
“This partnership blends the expertise of both organisations in a way that is mutually beneficial and will allow us to grow our operational activities in the care sector.
“We’re selective on who we choose to partner with and having already established a trusted working relationship with HBV, we are in no doubt that this new strategy will significantly enhance our company’s future growth.”