Man Group has agreed a deal to forward purchase 226 zero-carbon homes from modular developer Top Hat.
Institutional investment giant Man Group is planning to develop the scheme, which is expected to have a gross development value of £50m, at Old Malling, Lewes, in east Sussex.
The homes will be built offsite in TopHat’s new 650,000 square ft factory, believed to be the biggest in Europe, which is due to open next year. The scheme has outline planning permission and work is due to start next year.
The homes will be a mix of keyworker housing, affordable rent, and shared ownership.
TopHat says every home produced in its factories are capable of being zero carbon, through the issue of solar panels, air source heat pumps and battery storage.
Jordan Rosenhaus, CEO and founder of TopHat, said: “Our use of low-carbon technologies and cutting-edge manufacturing processes mean that TopHat can deliver future-proofed assets at pace so that income can be received sooner in the development cycle.”
Shamez Alibhai, managing director and head of community housing at Man GPM, said: “The development at Old Malling Farm is a clear demonstration of the positive outcomes socially and environmentally responsible capital can deliver to local communities.
“The homes will address the dual crisis of housing affordability and climate change, while delivering a high-quality place-based development to meet the aspirations of the local council and residents.”