Delivering high-quality, lower cost housing in Leeds.
- Investment StrategyLower-cost housing, Property
- Date of Initial InvestmentDecember 2020
- Bridges ExecutivesSimon Ringer
Celia Harrison
Thesis
Research indicates that England needs 340,000 new homes a year until 2031 to tackle the housing shortage, including 90,000 for social rent. High demand means there is a pressing need for more lower-cost and affordable housing, while investing in high quality housing provision will help towards community regeneration.
Investment
Latitude is a 2.3-acre site in a major regeneration area close to the centre of Leeds, which we acquired in December 2020. The local authority is one of the 18% most underserved in England; with our long-standing joint venture partner HUB, we’re addressing the strong demand for lower-cost and affordable family units in this area.
Outcomes
The Latitude development is expected to deliver over 850 high-quality lower cost housing units – a significant contribution (over 25%) towards the annual housing needs of Leeds – and will play a crucial role in the positive regeneration of the area. Preliminary estimates have indicated that the build will achieve a c.50% reduction in CO2 emissions vs a standard new-build.