Privately owned property firm Grosvenor Britain & Ireland has inked a partnership deal with UK developer Hammonds Estates to deliver around 5,000 homes in the South of England.
Financial details were not disclosed.
The Hammonds Farm scheme, situated to the east of Chelmsford in Essex, will be built on land owned by Hammonds Estates. Grosvenor said it would promote the 1,160 acre (470 ha) site as a new community featuring a mix of residential tenures set within a high-quality environment.
In 2018, Grosvenor outlined plans to triple the size of its strategic land business, targeting a portfolio of at least 30,000 homes within the next five years. The new partnership aligns with Grosvenor’s focus on sites capable of hosting 2,000-5,000+ homes, principally in areas of economic growth where housing need is most acute.
'This new partnership exemplifies our target model for our strategic land business,' said Alex Robinson, director of development, strategic land, Grosvenor Britain & Ireland.
'Working with Hammonds Estates - as with our existing partners on our other schemes - we will focus both on delivering new homes at pace, and creating exceptional communities that create a positive legacy for residents and landowners alike,' Robinson added.
With the addition of Hammonds Farm, Grosvenor’s pipeline stands at circa 15,000 homes, up from 2,100 in summer 2017.
Matthew Lynwood, Development Manager at Hammonds Estates said: 'Our vision is to establish a different model for development. Working with Grosvenor, we want to challenge and innovate - shaping a sustainable and inclusive new community which goes beyond just delivering new homes, but which offers inspiration and opportunities not available elsewhere for all sections of the community that live and work there.'