Global investment manager Man GPM has signed a £50 mln (€57 mln) deal with 3D modular house builder TopHat to deliver up to 226 zero carbon homes in Lewes, East Sussex.
Man GPM will develop the community of highly energy-efficient homes with a range of home ownership and rental options, giving a significant boost to modular housing in the UK.
The homes will be targeted at key workers and those in need of affordable rental housing in addition to shared ownership.
Construction work is planned to start on site in 2024, and TopHat will closely work with the local community and planning authority on the project.
Jordan Rosenhaus, CEO and founder of TopHat, said: ‘TopHat offers a unique proposition for investors deploying capital into the residential markets. Our use of low-carbon technologies and cutting-edge manufacturing processes mean that TopHat can deliver future-proofed assets at pace so that income can be received sooner in the development cycle. Our partnership with Man GPM will help address some of society’s most pressing issues – namely the chronic shortage of affordable housing and the cost-of-living crisis. Diversifying the supply of new-builds will be vital in increasing the supply of energy-efficient housing across the UK.’
Shamez Alibhai, managing director and head of community housing at Man GPM, added: ‘The development at Old Malling Farm is a clear demonstration of the positive outcomes socially and environmentally responsible capital can deliver to local communities. The homes will address the dual crisis of housing affordability and climate change, while delivering a high-quality place-based development to meet the aspirations of the local council and residents. By working together with progressive partners like TopHat, we have demonstrated that communities no longer have to choose between quality, affordability and sustainability.’
The new homes will be built at TopHat’s new 60,387 m2 manufacturing facility, achieving significant reductions in embodied carbon and less disturbance for local residents compared to on-site construction activity.
Once operational in 2023, Europe’s largest facility of its kind will bring together the latest robotics and the company’s proprietary technology to manufacture and distribute up to 4,000 homes per year.
The homes will be zero-carbon, as no operational emissions are produced from heating and utilities, thanks to the use of solar panels, air source heat pumps and battery storage.
