Kent and Kier in new deal
Published: 11 February, 2013
Kier is to build 152 houses in a new deal with Kent County Council. Under the deal, the council has transferred three sites to Kier which, with an institutional investor, will act as a registered social landlord to fund and manage the houses.
"This model opens up the chance to develop affordable, intermediate or market rented housing without necessarily using any public sector funding," said Dennis Seal, director for development and affordable homes at Kier.
"Anybody can negotiate this type of deal. The model has the flexibility to deliver housing across different tenures to take into account local need, and if you target the right opportunities, you don't need any public funding at all."
Homes can also be delivered immediately rather than over a period of years as buyers and mortgage finance are lined up, he added.