New homes needed nationwide will be made possible through a joint venture between Homes England, Lloyds Banking Group, and Barrett Developments PLC.

Together, the three entities have created the MADE Partnership, which will focus on the master development of large sites and help deliver thousands of new homes. Large brownfield developments and new village-style communities are in the pipeline, with residential-led developments, and community facilities creating employment opportunities.

This is a long-term partnership, initially backed by combined equity funding of up to £150m provided equally by the partners. The partnership brings together the essential skills, expertise and long-term approach, with the ability to unlock and scale the capital required to bring larger sites into production, enabling both major and SME homebuilders to build the new homes and communities the country needs.

Housing and Planning Minister, Matthew Pennycook said: “This 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.”

Peter Denton, Chief Executive of Homes England, said: “. Whether it’s transforming a brownfield site, extending an existing town, or creating a whole new village, the partnership will have the finance, tools, expertise and partners required to ensure a cohesive approach to delivering a fabulous place that people want to live and work.

Charlie Nunn, Chief Executive of Lloyds Banking Group, concludes: “This pioneering MADE Partnership is the cross-sector collaboration we need, that will enable the largest-scale projects and place-based solutions to be achieved, and help deliver tens of thousands of new homes which are so urgently required.”

It is envisaged the MADE Partnership will provide a master developer platform to manage the infrastructure and placemaking needed to deliver at scale, with both the ambition and capability crucial for creating not just the homes but vibrant and diverse places England needs