Lloyds Banking Group to convert old data and office sites into homes

Lloyds Banking Group has said it intends to convert decommissioned data and office sites into new social housing.

The first redevelopment in Pudsey, West Yorkshire, will create dozens of new homes to help increase the supply of good, affordable homes in the UK.

Lloyds Banking Group plans to identify suitable housing partners who will be responsible for redeveloping the sites to increase the availability of social housing.

The construction of the first site in Pudsey, formerly an office and data centre, is set to start in 2026. Subject to planning permission, it will create up to 80 new homes that could be available for social rent.

A full review of the group’s legacy commercial real-estate portfolio is currently underway, with plans progressing to finalise additional sites that could also be developed by housing partners as social housing in the coming years.

Lloyds Banking Group is also making a new £200m financing commitment to support local providers who provide housing for those who need it most.

It will enable small housing providers across the country to increase the number of quality homes they are able to make available for.

Through Citra Living, the group will acquire suitable homes and work with housing organisations and local authorities to lower the costs of providing suitable accommodation for families who are currently living in temporary accommodation.

Charlie Nunn, chief executive officer, Lloyds Banking Group, said: “Everyone has the right to build a future from the foundation of a secure home.

“Social housing is part of this country’s critical infrastructure, and we need to direct and increase investment into the right homes, in the places they’re needed most.

“Lloyds Banking Group has provided £17bn of support to the sector since 2018 and today we also have announced our plans to redevelop decommissioned Group data centres and former office sites for new housing projects. I would encourage others to also consider this.

“We’re also making a major financing commitment to housing providers, and through Citra Living we will own good-quality homes to be made available for those most in need.

“In partnership across the private, public and third sectors, we can create more good-quality, genuinely-affordable homes.”

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