Skip to main content

Hyde awarded £414m in grant funding from Homes England and the GLA to deliver nearly 4,500 new homes

Posted on 08 September 2021

The Hyde Group has been named as one of the 31 new strategic partners in Homes England’s Affordable Homes Programme, as well as one of the 53 housing providers who will receive funding for new homes as part of the GLA’s Affordable Homes Programme (AHP).

Homes England has allocated almost £5.2billion through its Affordable Homes Programme to a range of housing associations and, for the first time, to for-profit providers to deliver 90,000 homes outside of London.

Hyde, who will receive £250million from Homes England, will be able to use this funding to deliver around 3,000 new homes for shared ownership and social rent across their operating areas, outside of London.

The GLA has also allocated £3.46 billion in affordable housing grant to housing associations, local authorities and for-profit providers to cover the next five years, as part of London’s Affordable Homes Programme. Partners will be expected to build 29,456 homes, with 57% of the funded homes set to be for social rent.

Hyde will receive £164million from the GLA which will allow them to build 1,476 new homes; 590 of which will be for social rent and 886 will offer affordable home ownership options.

Hyde has a successful track record of delivering new homes through their existing partnerships with both Homes England and the GLA. It was awarded grant funding of £198million in 2016 to deliver over 4,000 shared ownership, social rent, London Living Rent or London Affordable Rent properties.

Guy Slocombe, Chief Investment Officer at the Hyde Group said: “We are committed to working with partners to deliver more of the homes that this country desperately needs. We are delighted to be named as one of Homes England’s, and the GLA’s, strategic partners on their Affordable Homes Programmes and are looking forward to expanding our own programme to boost housing delivery throughout London and the South East.

“I’m pleased that the GLA funding comes with such stringent safety and design requirements and the Homes England funding with a focus on modern methods of construction and sustainability, as these elements already form a fundamental part of our approach. Customer safety is paramount, and I’m pleased to see the sector working together to make the right changes to ensure that people can live in safe, decent and energy efficient accommodation.”