Barratt Developments Creates Master Developer JV for U.K. Housing Projects

By Anthony O. Goriainoff

Barratt Developments said it was launching a joint venture aimed at creating residential-led developments for 1,000 to 10,000 homes in the U.K.

The London-listed house builder said on Monday that it was joining government agency Homes England and Lloyds Banking Group to create the MADE Partnership, a long-term master developer proposal initially backed by up to 150 million pounds ($197 million) in equity funding.

The company said MADE's potential development opportunities include large brownfield developments--sites previously developed for industrial or commercial purposes--as well as new garden village style communities.

"The landmark new partnership...will support our commitment to ramp up housing supply and boost economic growth by developing more large-scale, attractive and sustainable places across the country with the homes, jobs and infrastructure that communities need to thrive," Housing and Planning Minister Matthew Pennycook said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

September 09, 2024 02:42 ET (06:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.