Housebuilder The Hill Group and investor L&G have announced a partnership to deliver affordable homes in the first phase of the 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 are working in collaboration with Coventry City Council, West Midlands Combined Authority and Homes England.

Phase one of the wider £450m regeneration will deliver 991 new homes, 8,000 sqm of commercial space and 17,000 sqm of new public open space, transforming this key site in the heart of the city.

Andy Hill, 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.”

Construction of phase one is expected to begin later this year, with the first affordable homes completing towards the end of 2027.