Midlands property development and investment business Gallagher Estates has been renamed as part of its integration into the housing association and residential developer L&Q.
The Warwick-based business will be known as L&Q Estates. The company, one of the largest strategic land businesses in the UK, was acquired by L&Q in February 2017 and has continued to grow ever since.
It has sold over 5,500 plots since its acquisition, and currently controls land capable of delivering 46,500 new homes, mainly in the South and South Midlands.
Gallagher promotes sites through the planning process, from pre-allocation stage to securing implementable planning consents, before delivering serviced land to the market place.
This move will help to enable L&Q to assume the role of “master developer”, boosting its ability to work strategically with local authorities and other public and private sector partners and house builders, as it accelerates development towards 10,000 new homes a year.
Over the next 10 years, L&Q will respond to the housing crisis by building or funding 60,000 new homes, and enabling the delivery of a further 40,000 new homes.
Read more: Annual house price growth is stable
L&Q Estates will have a key role in helping the Development Division of L&Q to achieve this ambition, through the supply of land to both L&Q to build out itself, and to new and existing third party PLC and SME housebuilders across the country.
L&Q has already contracted on the first three land deals (totalling 735 homes) with Gallagher Estates and the teams have collectively identified a further 3,000 homes to be built out as L&Q. In addition, during the same two year period Gallagher Estates sold over 5,000 plots to PLC and SME housebuilders.
Gregg Wilkinson, Group Managing Director at L&Q Estates, said: “Our highly experienced team of experts will continue to deliver a quality product to the market place that provides landowners with the confidence that our approach will drive best value, and demonstrates to local authorities that we are a leading enabler of quality homes and sustainable communities.
“By aligning with L&Q’s broader ambition to deliver 100,000 homes, L&Q Estates will now expand by targeting additional opportunities with new partners.
“Furthermore, we will increase our area of operations to support L&Q’s wider geographical interests such as those in Greater Manchester.”
Gallagher Estates was founded in 1956 and employs 40 staff at its headquarters in Gallagher Way, Warwick.
Fiona Fletcher-Smith, Group Director, Development & Sales for L&Q, said: “This move responds to Homes England’s five-year plan and the Letwin Review by enabling L&Q to unlock land for development across a wider range of tenures, and speed up the delivery of new homes on a regional basis through our ability to commit and invest over the long term.
“By bringing the unrivalled skills and experience of the Gallagher team into L&Q’s Development Division, L&Q will be able to promote land, secure consent, deliver essential infrastructure, build quality new homes and create many thriving communities that are managed by L&Q in perpetuity.”
Fiona added: “As a charitable housing association, L&Q drives value for everyone – from land owners to the wider community – and our door is open to new partners. Our track record of successful delivery stretches back more than half a century, and by forging a network of strategic partnerships we can step up and support the Government’s ambition of building 300,000 urgently needed new homes a year.”