MMC arm of insurnace giant will build homes on canal front site
The modular housing arm of insurance giant L&G has been chosen to build a 400-home canal-front scheme on the edge of Wolverhampton’s city centre.
L&G Modular said it has been named preferred developer for the net-zero Canalside South scheme on a former industrial site fronting on to both the Wyrley and Essington Canal and the Birmingham Main Line Canal.
L&G Modular was chosen for the 17 acre site by Wolverhampton Council and its partner the Canal & River Trust following a tender process run by consultant Avison Young.
The homes will be built on land sitting on the eastern edge of Wolverhampton’s centre, combining the former Crane Foundry site, owned by the Canal and River Trust, and a former British Steel site, owned by the council, which has been brought together with the aim of delivering a comprehensive redevelopment.
Every home in the scheme will include an air source heat pump, PV panels and Electric Vehicle charging point as standard, with L&G claiming that each house will be 60% more efficient to run for the homeowner than a standard Building Regulation-compliant new build home.
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The deal means L&G Modular, which produces homes from a 550,000 sq ft factory in Yorkshire and was set up in 2016, now has a development pipeline of more than 1,000 homes with several schemes at various stages of planning, construction and completion across England. The company has posted losses of £137m since set up but is backed by its parent, £10.3bn turnover insurance giant L&G.
Rosie Toogood, CEO of Legal & General Modular Homes said she was “delighted” that Legal & General Modular Homes had been selected as preferred developer. “In the face of a chronic housing shortage, steep energy bill increases, and a looming climate crisis deadline our mission is to reduce costs to consumers and the environment by producing the best quality homes in the most efficient way possible,” she said.
Stephen Simkins Wolverhampton council deputy leader and cabinet member for city economy, said: “We have now secured a prestigious developer with the expertise to deliver this large and exciting opportunity at Canalside South and, through our Canalside Delivery Partnership with the Canal & River Trust, we are determined to realise the scheme’s full potential.”
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