Joint venture partnership set to create 850 homes
£300m of new developments will be built in Birmingham and Ipswich from a partnership venture.
Galliard Homes and Apsley House Capital have entered into a joint partnership with Midlands property developer Wavensmere Homes.
At Belgrave Village in Balsall Heath, an urban village of 438 homes, compromising of two, three and four-bedroom townhouses and one and two-bedroom of apartments will be built.
Courtyard gardens will be at the centre of the development alongside a landscaped public realm, a linear park, retail space and parking facilities.
Stephen Conway, executive chairman at Galliard Homes, said: “We are delighted to have entered into joint venture developments with Wavensmere Homes, along with our existing partner Apsley House Capital.
“Together we will deliver around £300 million of new development and provide almost 850 new homes. The new developments will offer high quality, affordable homes for hard-working families in Birmingham and the London commuter region.”
The 12-acre development received planning approval in October and is located between Birmingham city centre and Moseley. It fronts the A4540 Belgrave Middleway and the A435 Haden Way.
Subject to Section 106 Agreement finalisation, construction of Belgrave Village is anticipated to start in Q1 2022, with an estimated three-year build programme.
In Ipswich, Galliard Homes and Wavensmere Homes, are building 400 new and converted homes at Barrelman’s Point, Shotley, on the site of the former HMS Ganges Naval facility.
The joint venture partners are also looking at other development opportunities across the Midlands and South East.
Belgrave Village and Barrelman’s Point build on the existing joint venture partnership between Galliard Homes and Apsley House Capital.
The Galliard Apsley Partnership, made in 2017, has already established a £400m+ (GDV) portfolio of current and pipeline developments in Birmingham, with projects including The Timber Yard, St Paul’s Quarter and Soho Wharf delivering some 1,400 homes and more than 9,290 square metres of commercial space.
Gerard Nock, chairman at Apsley House Capital, said: “As demonstrated by the construction of The Timber Yard and Soho Wharf, the partners are committed to delivering and creating new communities through inspired regeneration projects. We are very excited about the new partnership with Wavenmere Homes and are looking forward to commencing the first development together at Belgrave Village in early 2022.”
The Timber Yard, in Southside, is nearing completion and more than 80% forward sold. Construction of Soho Wharf is well underway and scheduled for completion by 2024.
James Dickens, managing director at Wavensmere Homes, said: “We are delighted to be working with The Galliard Apsley Partnership. Our collaborative approach will make a significant impact on urban regeneration in the Midlands and South East.”