European investment firm Terra Firma has announced it has set up a new parent company for its housebuilders Hopkins Homes and Tilia Homes, as it aims to increase development for the two firms to 2,000 homes a year.

Terra Firma, owned by billionaire investor Guy Hands, said that  under the new parent, which is called Untypical and is registered in Guernsey, the housebuilders will work towards delivering 2,000 homes a year in the short-term and plans to become a “leading UK housebuilder”.

Tilia, previously known as Kier Living, and Suffolk-based Hopkins Homes, will remain as separate consumer brands, but back office functions will be shared.