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Cross Keys Homes is set to create even more new homes in the region after it announced today that it is creating a joint venture (JV) with Kier Living, part of the residential division of Kier Group plc.
The agreement will enable Cross Keys Homes to generate and continue to invest its profit into more homes for the region. Using Cross Keys Homes strong track record and Kier’s value of its historic land bank in the East of England the JV will generate new cash which can be reinvested.
Of the partnership, Claire Higgins, Chief Executive of Cross Keys Homes, said: “I am really delighted that our joint venture has launched – it is the fantastic result of a great deal of creative thinking around the need to increase the supply of housing in general and for us, affordable homes in particular. Kier is a great business to work with and I look forward enormously to taking our partnership to the next level via this innovative venture.”
Commenting on the announcement, John Anderson, executive director, Kier Living says “This joint venture represents a strategic milestone in our five year strategy for Kier Living and will allow us to build on our strong track record in the East of England and leverage the value of 13 of our key sites. Kier and Cross Keys Homes have worked well together in the past and the joint venture provides a long-term sustainable relationship, building on our mutual track records.”