Aster Group and Linden Homes launch new housebuilding joint venture
Ethical housing developer Aster Group and award winning house builder, Linden Homes, have launched a new joint venture, Boorley Green Land LLP, to deliver new homes in Hampshire.
The JV has been formed to deliver a third of the properties at a 1,400-unit scheme in Boorley Green, Hampshire. Working alongside developers Bloor and Bovis, the JV will deliver 443 new homes, of which 303 will be offered on the open market and 140 through affordable tenures.
The homes will be delivered by Linden Homes – Galliford Try’s housebuilding business.
Aster Group and Linden Homes have already delivered hundreds of new homes through existing JVs in the South West and this latest partnership will mean the two organisations will deliver more than 1,200 open-market sale together.
The joint ventures with Galliford Try support Aster’s long-term development plans, which will see it invest £500 million over the next five years in building new homes.
Martyn Blackman, development director at Aster Group, said: “We’ve had great success through our existing partnership and. extending its geography through a new joint venture well help us bring even more much-needed new homes to market in Hampshire.
“Increasing housebuilding rates is a UK-wide challenge and partnerships between traditional private sector firms and housing associations need to be more prevalent. These joint ventures work successfully by spreading risk and pooling resources, allowing bigger schemes to get off the ground quicker. It also allows the partners to respond to market conditions and step up build rates when demand is high.”
Andrew Hammond, Chairman at Linden Homes, said: “Ensuring that we are delivering homes that meet local needs is a top priority for us and this commitment with Aster ensures that we are able to provide the right blend of housing tenure.
“We have delivered a number of successful JV schemes in partnership with Aster and are pleased to be launching these much needed homes at Boorley Green.”