Housebuilder signs £50 million JV
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Holme Valley headquartered housebuilder Yorkshire Country Properties has signed a joint venture with Dominvs Group, one of the fastest growing real estate groups in the UK, that will result in an initial £50 million of new homes being delivered.
As part of the deal, Dominvs is earmarking a further £50 million for land acquisition in Yorkshire over the next 12 months, enabling the partnership to deliver on its ambitious expansion plans.
The JV is part of the Dominvs’s strategic focus to rapidly storm ahead with its best-in-class residential and mixed-use developments outside of London, focusing on the South West, North West, West Midlands, and Yorkshire.
The London-based real estate and investment group view Yorkshire as a key area for growth, with demand for property in the region booming, and increases in house prices continually topping the national average, as a result offering a real opportunity as the business looks to diversify its portfolio beyond London.
The funding injection brought about by the JV will allow Yorkshire Country Properties and Dominvs to secure and deliver more residential sites and expand its reach across Yorkshire over the next two years. As part of its aggressive growth strategy, the Group will build on its development experience in complex and varied settings by expanding its residential offering in rural locations.
Stewart Brown, managing director of Yorkshire Country Properties, said: “This investment will enable us to maintain our bespoke and high-quality principles whilst allowing us to grow the business into new markets and areas. Dominvs Group is a great partner, and they recognise our unique potential and ambition to move forward with our ‘bespoke your home’ model to a wider audience.
“Furthermore, Dominvs is an ambitious, entrepreneurial property group that’s on a fast growth path. It has the in-house expertise to enable us to jointly deliver many more bespoke, quality homes in Yorkshire, and eventually further afield. This deal will take the company to a completely a new level.”
“We offer a different service and product to the national housebuilders and are confident we can upscale this successful model with this investment.”
Jay Ahluwalia, senior director of Dominvs Group, said: “We have worked with Yorkshire Country Properties for over two years, and they are a leading residential developer that has a strong reputation for delivering beautiful, bespoke homes across Yorkshire where people want to live.
“As a business, our strategic focus over the next 12 months is to rapidly expand our investments into Yorkshire and across other regions of the UK, and this deal with YCP is part of that strategy.
“This joint venture formalises our relationship with the house builder and creates a unique proposition in the market, for both customers and those looking to sell land. It will allow us to build on our long-standing relationship and draw on the strengths of both companies.
Following the JV, Yorkshire Country Properties will also continue to secure funding from Homes England, as it has done on previous sites. The company is currently building houses at Netherthong and Shepley, in the Huddersfield area, with various other sites in its development pipeline.