10,000 new UK homes to be built using £1 billion Kier and Cheyne Capital fund
A syndicate of investors and developers have launched a £1 billion fund to support the building of thousands of homes on council-owned land.
The new partnership developed between Kier and Cheyne Capital, along with a joint venture between Lloyds Banking and the Government’s Homes and Communities Agency, aims to build approximately 10,000 homes on land purchased from the council across the UK over the next four to five years. This enterprise will work with the local authority to provide a mix of properties to rent and buy, with the council able to maintain and manage any rental properties whilst keeping a portion of the rental prices as income. The more homes are released for sale, the more the syndicate will pay for the land, and properties will include discounted homes for the disabled, the elderly, and first time buyers.
Shamez Alibhai, Head of Cheyne’s Social Property Impact Fund, told The Telegraph: “The traditional model is to build homes for sales or for rent. We want to work with councils and say what do you need for your communities.”
This fund comes following the Department for Communities and Local Government’s claim that housing developments over the past three years have included an average of only 11pc affordable housing, with the new partnership aiming to provide as much as 50pc affordable housing per development, resulting in a vast increase in housing available to those unable to afford to buy or rent from the private sector. Kier, according to John Anderson, Executive Director of Kier Living, aims to increase its current average number of builds per year from 2,200 to 4,000 by 2020.
China’s Broad Group builds 10-storey apartment in 28 hours
The China-based manufacturing enterprise Broad Group has managed to construct a 10-storey steel apartment building in just over a day. Constructed in the city of Changsha in China, the company used bolt-together modular units known as its “Living Building System”.
A video time-lapse showing the build process. Video: Broad Group.
Broad Group, a manufacturing company based in Changsha, constructs a range of air-conditioning, heating, and prefabricated structural units. It accomplished the challenge in 28 hours and 45 minutes, enlisting help from three cranes and an on-site workforce.
Broad Group’s “Living Building” system
Designed to be easy to transport and install, Broad Group’s “Living Building” system uses components that are able to fit into a standard shipping container, and then be bolted together when they reach the site. Ductwork and wiring are fitted directly by the factory, the company said.
As part of the system, Broad Group’s B-Core steel slabs are used as structural elements which, the company claims are 10-times lighter and 100-times stronger than conventional slabs. The company also says they have the ability to resist earthquakes and typhoons, and that it costs less than a carbon steel building and has low energy consumption.
Broad Group also says that buildings of up to 200 storeys, supertall towers, could be built using the same modules due to the B-Core steel slabs’ strength and lightness.
Other Broad Group projects
Broad Group has completed other significant projects in the past. In 2012, for instance, it attempted to build the tallest tower in the world in Changsha at 838m, which would have made it 10m taller than the Burj Khalifa in Dubai. The company claimed it could have made the building, named Sky City, in just eight months. However, due to not receiving approval, it was never built.
In 2015, the company accomplished another “speed-build” challenge, constructing a 57-story tower using the “Living Building system”. It was completed in just 19 days.