Joint venture partners Apache Capital and Moda Group have agreed a deal to sell a development plot to affordable housing provider Homes for Brighton & Hove in Hove for an undisclosed price.
The affordable housing provider was established seven years ago as a joint venture between Brighton & Hove City Council and the Hyde Group with the purpose of delivering 1,000 lower income households in the city.
The land disposal marks the final phase of the joint venture partner’s ‘Moda, Hove Central’ build-to-rent (BTR) neighbourhood, which has seen a former trading estate transformed into 564 BTR homes, retail, Grade A office space and new public realm.
The new homes delivered by Homes for Brighton & Hove on the development plot will be added to the affordable homes already being delivered at Hove Central.
John Dunkerley, chief executive officer of Apache Capital, said: “Hove Central is a diverse and multi-faceted masterplan which will now deliver high-quality housing across a range of tenures alongside its positive environmental and social impact on the area. We prudently adapted our strategy to satisfy market demand, with the new affordable provision set to supply much-needed social housing in the area and bolster the placemaking credentials of the scheme, which is already a hive of activity despite only opening in spring 2024.
“Leasing activity at the build-to-rent element illustrates the strength of demand for a living proposition underpinned by high quality sustainable rental housing, professional management and amenity offerings, which is also seen through investor confidence. Institutional capital continues to be drawn to the sector’s strong structural tailwinds and growth outlook, and one in which Apache has one of the largest operational portfolios.”
Tony Brooks, executive chair at Moda Group, added: “From site acquisition and planning through to delivery and long-term operation, we have worked closely with Brighton & Hove City Council and the city’s wider community to deliver a neighbourhood that meets its needs and embraces the vibrant spirit of this amazing location. The sale of this final plot to an affordable housing provider is a fitting conclusion, helping to address the city’s housing need while reinforcing our long-term commitment as a partner and neighbour to Brighton & Hove. We look forward to seeing these much-needed homes come to fruition as part of the wider masterplan at Hove Central.”
Jaime Buckley, development director at Hyde Group, said: “We’ll be applying for planning permission in June 2025 to build 306 affordable homes at Sackville Road, 183 for council rent and 123 for shared ownership. The homes will be designed to high sustainability standards using renewable energy systems and will deliver 10% biodiversity net gain. Should permission be granted, we hope to start construction in early 2026.”
