Homes England and Aviva have launched one of the first investments supported by the government’s newly established National Housing Bank, announcing a £100 million partnership to deliver high‑quality family rental homes in underinvested urban areas across the UK.
The new partnership, working alongside Place Capital Group, will develop homes on underused brownfield sites, starting with advanced pipeline developments in Liverpool and Manchester. The initial phase aims to deliver around 300 homes, with the potential to expand to up to 3,300 homes as funding grows.
The homes will be designed to meet the needs of lower‑ to middle‑income working families, offering secure, long‑term rental accommodation in well‑connected urban areas with strong social infrastructure.
This investment is among the first supported by the National Housing Bank, a new government‑backed vehicle operating within Homes England. The Bank is designed to accelerate housing delivery and regeneration by deploying flexible public finance to crowd in private investment and unlock schemes at scale.
By working through funds, platforms and partnerships, the National Housing Bank aims to support long‑term place‑shaping rather than piecemeal development, targeting areas that have historically suffered from underinvestment.
Homes delivered through the partnership will be:
- Built on underused brownfield sites in regional towns and cities
- Low‑energy and high quality, supporting sustainability goals
- Aimed at working families priced out of home ownership
- Designed to provide certainty of tenure and stable communities
The focus on brownfield regeneration is intended to improve existing neighbourhoods, make better use of land with established infrastructure, and create environments that are visibly well‑managed and cared for.
The partnership has already secured two major development sites, at Vecock Street in Liverpool and Moston Lane in Manchester. Both schemes are expected to play a key role in improving housing supply while contributing to wider regeneration and economic growth.
By combining government‑backed finance with institutional investment, Homes England said the new partnership demonstrates how the National Housing Bank can accelerate delivery and unlock projects that might otherwise struggle to secure funding.
Leaders involved in the initiative described it as a model that could be replicated across other regions, supporting housing growth while ensuring developments are aligned with local regeneration priorities.
National Housing Bank Chief Executive Simon Century commented:
“This partnership with Aviva is exactly the kind of investment that the National Housing Bank was created for. Bringing together government-backed finance and institutional capital from a Sterling 20 investor, it supports the creation of a new housing delivery platform, working with talented delivery partners with the ambition to deliver at scale. It will unlock brownfield land and deliver high quality, affordable family homes for rent across the UK, starting in Liverpool and Manchester.
“We look forward to the establishment of more platforms like this powered by the National Housing Bank, to bring investment from institutional investors and the private sector into England’s housing market.”
As further funding is secured, the partnership expects to expand its pipeline significantly, delivering thousands of new homes in cities where demand for quality rental housing continues to grow.
Image credit: iStock
