Housebuilder GS8 has secured £650m in funding from two residential investors as it seeks to expand its pipeline to 1,000 homes annually over the next five years.
The new investment from TPG Angelo Gordon and Ridgeback Group will allow the housebuilder to purchase three new sites in the Home Counties – Epping Forest, Three Rivers and Buckinghamshire.
Approximately 40% of new homes developed across the sites will be allocated as affordable housing.
They have also announced the former shadow minister for energy and climate change and ex-Labour MP Luciana Berger as a newly appointed strategic advisor to the group.
Josh Gordon, co-founder of GS8, said: “The UK’s housebuilding sector is known for being slow to adapt, and we feel now is the time for real and fundamental change.
“Our planet-positive framework delivers environmentally conscious, high-performing, design-led housing, as we focus on simplifying construction by taking a rationalised approach to housebuilding, proving high-quality housing doesn’t need to cost a fortune or impact viability.
“We have worked with leading industry partners to establish a regenerative, community-led housing solution that both maintains our design ambitions and doesn’t demand a premium – and we believe this represents the future of sustainable housebuilding in the UK.”
Mike Diana, managing director of Europe real estate at TPG Angelo Gordon, added: “With their differentiated, sustainability-focused approach to housebuilding, we believe GS8 is well suited to address the significant demand for new homes in the UK.
“Together with Ridgeback, we look forward to working with the GS8 team as they seek to accelerate their expansion and further cement their position as a leading provider of sustainable housing solutions in this undersupplied market.”
