Hearthstone Investments, an investment manager focused entirely on suburban private rented housing in the UK, has purchased a new scheme of zero-carbon houses in Sittingbourne, Kent.
Developed by PSP in partnership with offsite manufacturer NetZero Buildings (part of the Premier Modular Group) using modern methods of construction (MMC), the homes serve as prime examples of high-quality net-zero carbon buildings in operation, powered from renewable energy sources. The traditional-looking buildings, which seamlessly blend with the surrounding area, are equipped with air source heat pumps and solar panels, in addition to high-quality insultation offering low energy bills for the end user. All of the houses have an EPC ‘A’ rating and come with car parking spaces, with the wiring in place to power charging units, designed with electric car users in mind.
The project showcases how MMC and Design for Manufacture and Assembly (DfMA) can be used to create a cost-effective solution for delivering affordable net zero homes compared to traditional methods. Completed in September 2021, these purpose-built family homes are now fully let.
Following the completion of this project, PSP was shortlisted for both the 2022 RESI Awards within the ‘Climate Crisis Initiative – Residential’ category and the EG Tech Awards 2022 within the ‘Innovation Award (Building)’ category – this is testament to the trailblazing characteristics of the Sittingbourne properties.
Allsop acted on behalf of PSP, the vendor.
Mark Davis, Partnerships Director at PSP, said: “The Sittingbourne homes we’ve developed in partnership with NetZero Buildings are a fantastic example of sustainable, socially responsible housing. Offsite construction and energy efficiency tend to go hand in hand as typically, offsite designs achieve a substantial reduction in carbon as standard.
“The energy efficiency of these properties offers low running costs for the end-user, which is an important consideration for many as the cost-of-living crisis in the UK worsens. As ESG becomes increasingly important for investors, who seek to future-proof their portfolios, we expect there to be more appetite for carbon neutral homes in the future and look forward to working with housing associations and councils across the UK and Ireland to deliver new climate-conscious housing projects.”
Helen Simons, Investment Director at Hearthstone Investment, said: “PSP’s track record in delivering impact focused and energy-efficient projects is an ideal fit for our suburban private rented housing strategy and this scheme is a great example of this approach. Given the recent surge in energy prices our residents can save the equivalent of a month’s rent from savings in energy bills.”
PSP is a leading Strategic Asset and Development Manager to the public sector.
We create long term Partnerships with Councils and provide technical property services to the wider public sector across the UK and Ireland. Through the unique PSP Partnership, we bring resources, expertise and innovative funding solutions to deliver land, property and asset related projects to support regeneration, climate change, employment, housing and placemaking initiatives.
In the last decade, we have established 21 Partnerships across the country to help Councils to achieve property related goals along with socio economic outcomes to the benefit of the Council, Community and local stakeholders.
We work closely with our Partners, as part of their team and have delivered all types of real estate projects including the development of zero carbon homes, master planning, delivery of significant employment sites and infrastructure, portfolio and asset rationalisation, the creation of new income generating assets and the conversion of listed buildings.
We exist to support the public sector to create place and value for communities, offering brighter solutions and improving lives.
About Hearthstone Investments
Hearthstone Investments (‘Hearthstone’) is an investment manager entirely focused on suburban private rented housing in the UK.
Across a range of funds and segregated mandates, Hearthstone manages capital on behalf of UK Local Government Pension Schemes, as well as other institutional and private investors.
The team oversees an income generating portfolio of over 1,400 homes across the England, Wales and Scotland with the aim to deliver resilient income and capital growth for investors.
Investments by Hearthstone have increased the provision of energy efficient and well-maintained rental homes affordable to tenants in areas with an undersupply of good quality rental housing. Homes managed by Hearthstone are rented by residents on average and below average salaries, many of whom are key workers.
Hearthstone is committed to working with housebuilders in the transition towards net zero. Homes managed by Hearthstone emit, on average, 1.3 tonnes of CO2 per annum, significantly below the national average of 6 tonnes per annum.
A pioneer in the sector with its first fund launched in 2012, the team at Hearthstone brings a decade of experience and a demonstrable track record. Its success is based on long term relationships with investors, residents, housebuilders and agents.
For further information, visit https://www.hearthstone.co.uk
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