£100m housing mandate for Langham Hall 18 February 2016London Reporter: Stephanie Palmer
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Langham Hall has been appointed as onshore administrator for the Housing Growth Partnership (HGP).
The partnership was established in July 2015 between Lloyds Banking Group and the Homes and Communities Agency, which each invested $50 million of equity in to the venture.
It is intended to address the housing shortage in the UK by increasing private equity backing for small, residential developers.
The partners plan to facilitate the building of 2,000 homes, through 50 investments within four years. HGP will support projects with a gross development value between £750,000 and £35 million, offering investments ranging from £250,000 and £5 million.
Langham Hall will provide accounting services including book and record keeping, preparation of quarterly management accounts and investor reports and treasury functions. The mandate was reportedly based on the administrator’s experience in real estate accounting.
Andy Hulme, CEO of the HGP, said: “The appointment of Langham Hall as administrator for the HGP represents another step forward in our journey to increase housing output by supporting small and mid-sized UK builders. They have an experienced accounting and administration team and we look forward to working with them as we build our portfolio.”
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