Weston Partnerships is pitching to work with build-to-rent (BTR) fund managers, local authorities, later living developers, student accommodation providers and others.
Weston Group will continue to develop its own housing, through Weston Homes, but sees Weston Partnerships as a strategic expansion that will leverage its subsidiary British Offsite, which manufacturers panels and frames for building systems.
Weston Partnerships is led by development director Steve Hatton, working alongside group chief executive Peter Gore and chairman Bob Weston.
As part of its initial pipeline, Weston Partnerships has already established various partnerships. In the BTR sector Weston Partnerships has entered into an agreement with Royal London Asset Management to provide homes across two developments – Bracknell Beeches and Town Quay, Barking. These will deliver 411 BTR properties with Weston Homes overseeing the construction.
In the local authority housing sector Weston Partnerships has entered into an agreement with Barking & Dagenham Council (via Be First, the council’s regeneration arm), enabling the delivery of local authority affordable housing at Town Quay in Barking. This project will provide affordable homes on a turnkey basis with Weston Homes constructing and delivering the completed homes.
Weston Partnerships is also working with retirement housebuilders, local developers and contractors needing British Offsite’s building components. The deals include a collaboration with Elkins Construction across three developments using British Offsite’s load bearing UniSystemLB product.
British Offsite will also play a role in Weston Partnership’s delivery of student accommodation in Orchard Park, Cambridge, in partnership with Vertex Living, which will also incorporate British Offsite’s UNisystemLB.
Steve Hatton said: “Our priority is to work closely with our partners to help accelerate housing delivery, improve affordability, drive MMC innovation and uphold the highest construction standards. Through this expansion we are well positioned to make a meaningful impact on the future delivery of housing.”
Peter Gore added: “Whilst the group will continue to operate within the build-to-sell sector via our core Weston Homes division, the housebuilding industry has changed dramatically over the last few years and it is important for us to expand and create new income streams for the business. The build-to-rent, local authority and some of the other deals we have already secured have the advantage of being forward funded providing an upfront income stream which is highly advantageous for our cash flow and financial strength.”
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