New company will target regeneration sites beginning with two estates in Basingstoke
Sovereign Network Group (SNG) has selected housebuilder Hill Group to be its investment partner in a new venture aimed at developing urban brownfield sites.
The company, called Sovereign Hill Partnership, is 50:50 owned by the two organisations.
Its first project will be the regeneration of the Buckskin and South Ham estates in Basingstoke. Basingstoke and Deane Borough Council has identified the regeneration of the estates, which consist of 4,700 homes, as a key priority in its local plan.
SNG began initial consultation with the community this week but no specific plans have yet been published.
SNG, which was created last month through the merger of 61,000-home Sovereign and 21,000-home Network Homes, is aiming to build 25,000 homes over the next 10 years.
>>See also: Spinning plates: an interview with Sovereign boss Mark Washer
>>See also: How to get the green light for brownfield
Tom Titherington, chief investment and development officer at SNG, said: “This partnership aligns with our bold ambition to build good quality, well-designed homes in sustainable communities for our customers whilst embedding our future vision towards net zero.
Andy Hill, group chief executive at The Hill Group said: “We are delighted to be entering into this long-term strategic partnership with Sovereign Network Group and advancing with our plans to improve the lives of a great many people through a programme of high-quality regeneration.
Hill was selected following a selection process led by consultant Arcadis.
No comments yet