© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
One hundred and ninety new homes will be created across the south of England following the creation of a joint venture consortium between Mill Group and Bovis Homes Limited.
The new properties will comprise 110 houses and 80 apartments, designed for couples and families. They will be built in phases over the next 18 months and are located in Cambridge, Bristol, Gloucester, Southampton, Horsham and Hemel Hempstead. The portfolio will be asset managed by Investors in Homes Management Ltd, Mill Group’s residential asset management company.
David Toplas, Chief Executive of Mill Group, said: “There is a significant, well-recognised shortage of homes and an ever-growing need for good quality, affordable rental accommodation, and this deal will help tackle that. We are delighted to play our part to encourage greater institutional investor participation, ultimately helping spur an increase in supply of private rental homes.”
The deal totals £45m. The Homes and Communities Agency has also provided £8.77m funding for the transaction as part of the Build to Rent Fund.
Housing Minister Kris Hopkins said: “Millions of people use the flexible option of renting in the private sector. I want to ensure tenants have a choice of high-quality homes, rented under reasonable terms. So I’m pleased that this deal is complete to build 190 homes across six sites specifically for private rent.
“And with more sites being considered for a share of our £1billion Build to Rent fund, we’re well on track to have work under way on 10,000 homes for rent by 2015.”