A UK housebuilder founded by the former CEO of Bloor Homes has announced plans to deliver more than 1,000 properties per year following an investment boost.
Warwick-headquartered HarperCrewe has received significant strategic backing from investment manager TPG Angelo Gordon and property investor Ridgeback Group, who previously acquired nine UK build-to-rent assets worth more than £800 million.
HarperCrewe founder and ex-Bloor Homes boss Adrian Bloor said his company will use the money to grow its existing landbank and scale delivery of new homes “at pace”.
It is understood the challenger housebuilder has amassed an initial land portfolio of more than 3,000 plots since its inception in 2022.
New residential projects supported by the investment will include for-sale, rental, and affordable housing tenures.
HarperCrewe recently opened another regional office in Nottingham and plans to open more regional offices in line with its expansion plans.
Mike Diana, managing director, Europe real estate at TPG Angelo Gordon, said, “Our investment in HarperCrewe is underpinned by our belief that this is a highly scalable business that has a differentiated approach to housebuilding and serves a fundamentally undersupplied market.
“With a best-in-class homebuilder in Adrian Bloor and Ridgeback’s operational expertise, together, we believe we are well-positioned to execute on this significant opportunity in the UK and address the demand for new homes therein.”
Bloor added: “Consolidation in the UK plc housebuilding sector is creating a path for new entrants that are committed to doing things differently.
“Our partnership model is a unique proposition and genuine alternative to the typical approach of a listed housebuilder.
“From our regional offices in Warwick and Nottingham, our dealmaking capabilities take us straight to the source of off-market land with landowners that are looking to leave an enduring legacy.”
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