Living Space set to break ground on record number of homes in 2024
February 21, 2024
· The affordable housing specialist has 372 homes in the pipeline for 2024 – which follows the completion of 139 homes in 2023.
· New homes will be spread across seven sites with a gross development value (GDV) of £88m.
Living Space, the affordable housing specialist, is expecting to break ground on 372 homes across seven sites in 2024, as it builds on the 139 homes it completed in 2023. The pipeline for the Solihull-based developer will deliver a gross development value of £88m.
The business partners with housing associations in the Midlands and the South of England and is targeting growth of more than 60% this year, to £50m, after recording its strongest revenue figures ever in 2023 (£30m).
One of the schemes to break ground in 2023 was an all-affordable development on the outskirts of Melksham. The community-orientated scheme – comprising 50 homes and managed by Sovereign – will see priority given to people with a local connection to the parish through family or work.
Each property will be heated cleanly using air source heat pumps, making it an all-electric development, which will lower Sovereign’s residents’ energy bills and reduce each home’s carbon footprint.
The 2024 pipeline includes a scheme in Aston, Oxford where Living Space is partnering with social housing provider, Stonewater to build 40 affordable homes.
As another 100% affordable scheme, the West Oxfordshire development will deliver a mix of property types catering to couples and families. Residents will benefit from the introduction of extensive green infrastructure, which will account for 40% of the total site area.
Paul Breen, Managing Director of Living Space, said: “Despite the headwinds and hurdles facing new housing development, we had a record year in 2023 and are well positioned to accelerate our construction activity this year owing to our careful and disciplined approach and the strength of our industry partnerships.
“Each and every one of the new homes we’ll deliver this year will reflect the passion our team has for providing quality housing that communities can be proud of.”