Man GPM team invests in new affordable, net zero* housing community at Old Malling Farm, Lewes
22 March 2023
Man GPM’s Community Housing team will partner with modular housing firm TopHat, to deliver up to 226 new homes in an affordability-constrained area with considerable demand for affordable family housing.
The UK has experienced a significant, long-term mismatch between supply and demand in the housing market, which has led to an affordability crisis impacting households earning the median income and below. The team invests institutional capital – from investors such as LGPS, Homes England and Big Society Capital – to build new homes with the aim of generating positive returns for investors whilst delivering a demonstrable social and environmental impact.
Old Malling Farm is a high-quality landscape-led and place-based development, which will respect the national park setting. The site will be delivered more swiftly than a traditionally built site due to the efficiency of modular manufacturing techniques and the final home is expected to be completed in early 2026.
The intention is to support a more accessible housing market for the local area by providing a mix of housing for rent for lower income families and key workers and shared ownership for first time buyers. The homes for rent will include homes let under the Lewes Low Cost Housing scheme, in accordance with local planning policy.
The environment and sustainability are at the core of the development’s design and manufacturing processes: the proposed modular homes produce ~82% less embodied carbon than a traditional home and are designed to be energy efficient and zero carbon in use. This double-pronged approach to sustainability is achieved using precision manufacturing in a controlled factory environment. The homes will also be significantly more energy efficient to run, exceeding current environmental legislation and performance requirements, using air source heat pumps together with solar panels and proprietary cladding systems.
Shamez Alibhai, Managing Director and Head of Community Housing at Man GPM, said:
“As the cost-of-living crisis continues to challenge the living standards of millions across the UK, the demand for affordable, quality homes is greater than ever. Old Malling Farm is an excellent example of what we’re capable of: combining affordability and sustainability to create places where people can thrive. Man GPM has a heritage of offering compelling impact opportunities for investors and finding innovative solutions for compound problems.”
Tom Shaw, Investment Director at Man GPM, added:
“Tackling climate change, head on, has never been more important. We are excited to deliver this net-zero development and help be a part of the solution by providing homes built for the future. We look forward to engaging with the local community as we develop the detailed plans for the site before submitting a reserved matters application later in 2023.”
* Net-zero carbon housing is housing that contributes no additional carbon to the environment. Net-zero carbon housing contributes no additional CO2 or greenhouse gases to the atmosphere. The concept of net-zero carbon recognises that a house will actually produce some carbon, but that the carbon may be offset somewhere else resulting in net-zero. Strictly there is no such thing as a carbon zero house since building and using any building invariably involves producing carbon.
Source: Property Investment UK.