The Hill Group and institutional investor, L&G, have announced a partnership to deliver affordable homes in the first phase of the landmark City Centre South regeneration scheme in Coventry. This collaboration marks the first time Hill and L&G have worked together on a major residential development.
Under the deal, L&G will acquire 200 affordable homes being delivered by Hill within the first phase of the regeneration. The homes will include 145 for social rent and 55 for shared ownership. They will be delivered across the first four buildings of the scheme, which are prominently located at the front of the development on both Queen Victoria Road and Market Way, helping to create diverse communities at the heart of the masterplan from the outset.
Hill and L&G, in close collaboration with Coventry City Council, West Midlands Combined Authority and Homes England, share a vision to deliver high-quality homes and an inclusive development that meets the needs of the whole community. Phase one of the wider £450million regeneration will deliver 991 new homes, 8,000 sq m of commercial space and 17,000 sq m of new public open space, transforming this key site in the heart of the city.
Andy Hill OBE, group chief executive at The Hill Group, said: “We are delighted to be working with L&G for the first time on the delivery of affordable homes. Their commitment to high-quality, long-term investment in communities aligns closely with our own values. From the beginning, we set out to make City Centre South a new benchmark for inclusive regeneration, and this partnership ensures that the very first homes delivered will be genuinely affordable and visibly central to the life at the new development.”
Ben Denton, chief executive at L&G’s affordable homes division, said: “We are dedicated to addressing the UK’s pressing housing crisis. We’re uniquely positioned to deploy significant institutional capital to deliver safe, secure, and affordable homes where they’re most needed, all while ensuring an excellent customer experience. Our involvement in City Centre South perfectly illustrates this commitment, and we’re proud to partner with The Hill Group and Coventry City Council on this vital regeneration project.
Prioritising affordable homes as part of the development also reflects the strategic vision of Coventry City Council and the West Midlands Combined Authority, which has provided significant investment to unlock the scheme. Located in the heart of Coventry city centre, City Centre South sits just a five-minute walk from Coventry Railway Station and is positioned around the historic Coventry Market and adjacent to the new Cultural Gateway, placing future residents at the centre of the city’s cultural, retail, and employment districts.
Cllr Jim O’Boyle cabinet member jobs, regeneration and climate change, commented: “This agreement is a significant and important step in bringing forward the type of housing that local people need. I’m particularly pleased to see affordable and social homes being placed right at the heart of the development with some being delivered as part of the very first phase. It shows a real commitment to creating a welcoming inclusive community in the city centre.”
Construction of phase one is expected to begin later this year, with the first affordable homes completing towards the end of 2027.
