Modular housebuilder TopHat has agreed a £50m deal with Man GPM to deliver up to 226 zero carbon homes on a site in Lewes, East Sussex.
The homes, which will be built offsite in TopHat’s 650,000 sq ft manufacturing facility, will be targeted at key workers and those in need of affordable rental housing in addition to shared ownership. Subject to approval of reserved matters, work is expected to start on site in 2024.
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.”
