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Wednesday, February 06, 2024

Development Securities Plc and Blue Limited announce joint venture

Development Securities Plc and Blue (Sustainable Living) Limited, advised by Savills, have announced the formation of a new 50:50 Joint Venture to pursue sustainable residential and mixed-use development opportunities in the UK.

The joint venture will promote, define and develop high-quality, authentically sustainable places and communities, and will employ the expertise of sustainability consultants Beyond Green.

The JV's first project is under development and expects to submit a planning application later this year for a sustainable and mixed-use neighbourhood of some 800 homes that will establish new standards for authentic sustainable development locally, regionally and nationally.

Jonathan Smales, founder and CEO of Blue (Sustainable Living) Limited, says: "Sustainability objectives are now enshrined as the central purpose of the planning system. Working with Development Securities, we intend to profitably demonstrate that, when given the choice, people want to live in better places and homes that are truly fit for the future and in real communities that respect environmental limits and improve quality of life."

Matthew Weiner, Executive Director of Development Securities PLC, adds: "An important element of our strategy is to develop more sustainable residential and mixed-use projects in the UK and this new joint venture with Blue, will help us to achieve our objective far more quickly and effectively. We are very excited that the first project is secured and look forward with Blue to extending our expertise in the sustainability area."

Andrew Causer of Savills Corporate Finance continues: "We saw this as a great opportunity to introduce two parties, who together can provide a high quality development solution responding to the ongoing demand for sustainable housing across the UK."