Buying and owning property is an investment strategy that can be both satisfying and lucrative.
From buy-to-let and adding value to property development and flipping, there are plenty of options open to those investing in the residential or commercial property markets. But have you ever considered investing in modular homes?
Legal & General clearly sees this area of the market as offering significant room for growth – and profits.
The company announced yesterday that it has partnered with Town & Country Housing to acquire a site in Broadstairs, Thanet, Kent, for the development of 153 modular homes.
Together with its schemes in Selby, Bristol and North Horsham, this latest development brings Legal & General Modular Homes’ pipeline to 670 new homes.
Working alongside RP partner Town & Country Housing, the scheme, located on Poorhole lane, which will be funded by Homes England, will deliver 153 affordable homes for shared ownership and social rent.
A range of two-, three- and four- bedroom houses will be offered through Town & Country Housing’s trading brand, Love Living Homes. All homes have been designed to achieve an Energy Performance Certificate (EPC) ‘A’ rating, a standard met by only around 1% of new and existing dwellings in England & Wales.
From its factory in Sherburn-in-Elmet in Yorkshire, Legal & General Modular Homes has ambitions to build its annual housing delivery to 3,000 modular homes a year in 2024, bringing rapid and disruptive change to the construction industry. It is designing and manufacturing homes which are sustainable, high-quality, and affordable, transforming the way we build in the UK.
Rosie Toogood, CEO, Legal & General Modular Homes, said: “In a post pandemic environment, the importance of delivering affordable, carbon-friendly homes, set within green open spaces and at the heart of a well-connected local community has moved to the top of the agenda. Through modular construction, Legal & General is able to deliver all of this and in half the time of traditional methods.
“With our delivery pipeline now for 670 homes, the business is making great steps forward. Our latest scheme in Broadstairs, along with our schemes in Selby, Bristol and North Horsham will really showcase the part modular can play in helping the UK to Build Back Better.”