The UK’s Housing Growth Partnership (HGP) has announced an investment of £2.8m in Autograph Homes’ first two development sites, The Paddocks in Hambrook and The Old Library on Bristol’s Cheltenham Road.
HGP is a social impact investor, backed by Lloyds Bank and the Homes and Communities Agency. Its objective is to address housing affordability by providing support to regional residential developers to increase the number of new homes built in the UK.
HGP’s Investment Director, Andrew Fairley, said the organisation used a flexible approach, coupled with structuring expertise, to provide the right solution for Autograph. “HGP worked closely with the management team to drive the transaction to a tight deadline and provide essential funding to unlock the development sites. We are very pleased to be supporting Autograph Homes on both these projects.”
Paul Abson, Chairman of Autograph Homes agrees, “The proactive way in which all parties approached this transaction has been excellent and this bodes well for our future working relationship. It’s unusual to be able to forge such a strong partnership in such short timescales.”