Elivia Homes has announced a partnership with Seaward Strategic in a deal that will see over 1,000 units jointly promoted, with a gross development value (GDV) of circa. £500m.
The move signals considerable growth for Elivia Homes’ Southern region, with 11 new sites at varying stages of planning across West Sussex, Hampshire and Dorset. With developments ranging from 20 to 200 units, the deal will see Elivia deliver much-needed quality new homes across the south, including hundreds of affordable properties.
The addition of this portfolio land further cements Elivia’s M&A credentials and innovative approach to expansion. It marks another impressive milestone for the Octopus Investments-backed business following swiftly after the acquisition of Kent-based Millwood Designer Homes in January. The additional portfolio underpins Elivia Homes’ future growth plans by securing longer-term cashflow certainty and reflects its continued investment in strategic land and an expertise in land promotion and planning.
Seaward Properties, based in Chichester, has been a creative and innovative developer of both commercial and residential developments in the South and South East of England since 1972. Since then, it has established a reputation for building homes with distinctive character in sought-after locations. The partnership with Elivia reflects a commitment to further enhance the speed and certainty of delivering planning consents for the land owners they represent.
Kevin Wawman, Managing Director of Elivia Homes Southern, comments: "It has been an absolute pleasure working with the Seaward team in a deal that provides long-term growth and stability for the business. We look forward to building approximately 1,000 homes within the new portfolio, using our combined knowledge and experience to successfully deliver these high-quality sites over the next few years.”
Barry Sampson, Chairman of Seaward Properties, comments: “It was important to find another like-minded housebuilder which matched our own passion for design and build principles and Elivia Homes were the perfect fit. We have thoroughly enjoyed the working relationship to date and look forward to strengthening our partnership moving forwards to deliver our valued strategic portfolio.”
Elivia Homes’ new three-region business plan sets out to triple in size by 2027 to a £350m turnover business, delivering over 1,000 design-led and sustainable homes per year in aspirational locations across the South East. The acquisition of the Seaward portfolio sees its land pipeline grow to a GDV of over £1.5 billion.
The company remains focussed on its mission to create developments that help people and places thrive, with growth driven by an active land acquisition programme, investment in digital technologies, sustainable development and a commitment to skills and training.