Manchester Is Turning Japanese: One Of The World's Biggest Housebuilders In £90M Debut
Japan’s biggest housebuilder, Sekisui, will move into the UK housing market after taking a 35% stake in Manchester-based housebuilder Urban Splash.
The £22M investment will see it work with Homes England and Urban Splash to deliver thousands of new homes across England.
Sekisui House, one of the world’s leading housebuilders, is a pioneer of modern methods of construction, where homes are built in factories and then shipped out to sites.
The deal is a smart move for Urban Splash who have been moving decisively in the direction of modular housing.
Sekisui House aims to create homes and communities that improve with time and last for generations. With “love of humanity” as its corporate philosophy, Sekisui House believes that homes should offer comfort, security and peace of mind for residents, while maintaining harmony with the environment and its surroundings.
Founded in 1960, Osaka-based Sekisui House is one of the world’s largest homebuilders and an international diversified developer, with cumulative historic sales of more than 2 million homes. It is listed on the Tokyo Stock Exchange and the Nagoya Stock Exchange.
The deal, facilitated by lead real estate and financial advisor JLL, comprises a total new investment of £55M into regeneration company Urban Splash’s ‘House’ development business. Sekisui House have invested £22M of new equity, with £30M of equity and debt funding coming from the Government’s Home Building Fund, administered through Homes England.
“Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths," Sekisui House President Yoshihiro Nakai said. "Our technology and know-how can help resolve pressing social issues in the UK, and I want to see us play our part, effective immediately. These operations can also help bring vitality to UK regions, and we will work to make the strongest connections with the local communities."
We Buy Any Car founder Noel McKee has also made a sizeable investment in the new partnership and will take an incremental 5% stake.