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Residential

Creating inspiring places to live is a core mission for our business and we are significantly invested in the sector through our strategic land and residential development joint ventures.

These operate in all main residential markets covering for sale, affordable and build to rent product in locations from Prime Central London to the Central Belt of Scotland. Our strategic land business is a significant provider of serviced land to mainstream house builders.

As our business has grown, we have seen increasing emphasis in the BTR, assisted and co-living and student markets, and over the last few years have been investing in the US student and multi family markets in Boston, Washington DC and Atlanta.

Residential Case Study 1

Hanwood Park, Kettering

Hanwood Park, Kettering image

A 50:50 Joint Venture with London based Long Harbour, Hanwood Park is one of the UK’s top 10 largest urban extensions providing a major new community in a highly sustainable environment. On site amenities will include the provision of new schools, community centre, healthcare, retail and leisure uses.

Strategically located in the heart of the UK and only 50 mins by train to London, the development already benefits from significant expenditure on infrastructure including the major spine roads and one new school and with 6 different housebuilders currently constructing homes on site. Funding for these works has been provided in partnership with Homes England who continue to support the project.

Hanwood Park, Kettering site plan

Site: 810 acres

£25m

invested in infrastructure to date

2 million

sq ft of commercial space

5,500 new homes

5,500

new homes

1,100

houses occupied and under construction

37% site cover dedicated to public outdoor space

37%

site cover dedicated to public outdoor space

Residential Case Study 2

Native Land

Native Land image

Native Land develops high quality mixed-use projects predominantly in Prime Central London. Current projects include the redevelopment of South Kensington Station, the 1.4m sq ft, 5.5 acre Bankside Yards site in Southwark and New Eidyn in Edinburgh’s St James Quarter.

Buccleuch Property has held a strategic shareholding in Native Land since 2004, shortly after the business was founded and we have invested equity in every project since.

Landmark developments include Holland Park Villas, NEO Bankside and Montrose Place. Native Land has a worldwide reach with investors, funders and end purchasers across most continents.

£3 billion

Gross Development Value (GDV) of completed projects

Native Land supporting image

£35m

invested by Buccleuch Property

£100m

of affordable housing provision

550 private apartments sold

550

private apartments sold

Residential Case Study 3

Shawfair

This 50:50 joint venture with Mactaggart & Mickel Homes was formed in 2015 to deliver a New Town at Shawfair, creating the largest urban expansion programme currently in Scotland. Revitalising the south east of Edinburgh, the project is establishing a brand new community within a fully landscaped environment surrounding a new town centre and recently opened railway station which is only an 15 minute journey to Edinburgh Waverly. Shawfair residents will benefit from three new schools, two primary’s and a secondary, neighbourhood shops, new community and health centres as well as a variety of sports facilities. 

The objective of the JV has been to secure the necessary planning consents, undertake the provision of all infrastructure works and land remediation and then sell serviced sites to house builders. This includes the provision of new roads and drainage infrastructure, primary and sub stations to provide power and a district heating main using carbon free heat from the adjacent Energy From Waste facility.

See shawfair.co.uk for more information.

Shawfair site plan

site: 750 acres

£1.2bn

Gross Development Value (GDV)

1m

sq ft of commercial space

£100m per annum estimated net impact on economic output when complete

£100m

per annum estimated net impact on economic output when complete

4,000 new homes when complete

4,000

new homes when complete

1,200

built or under construction

6,500 jobs will be supported

6,500

jobs will be supported

Residential Case Study 4

Queensberry Properties

Queensberry Properties image

Established in 2006, this longstanding Joint Venture with Cruden Group, one of Scotland’s foremost privately-owned house builders, focuses on developing high quality housing for sale in Edinburgh, Glasgow and the Central Belt of Scotland. Combining Buccleuch’s land and property expertise with Cruden’s extensive construction and marketing skills, Queensberry is well placed to deliver high quality and complex projects from inception to completion. An increasing focus on Build to Rent has already delivered a pipeline of 300 units in Edinburgh with aspirations to grow this further.

Focusing on upper market quartile, 350 new private homes have been delivered with a pipeline of 250 under construction and in planning. Notable developments include Woodcroft in the Grange area of Edinburgh, Bonnington Mill and Waverley Gate. We are also cornerstone investors in New Eidyn, comprising 150 prime apartments as part of the newly completed £1 bn St James Quarter.

See queensberryproperties.co.uk for more information.

£250 million +

Gross Development Value (GDV)

Queensberry Properties supporting image

300

Build-to-rent (BTR) units in pipeline

100+

Affordable units delivered

1,000 Market units developed, under construction or in the pipeline

1,000

Market units developed, under construction or in the pipeline

Residential Case Study 5

COSMOS, Sheffield

COSMOS, Sheffield image

In JV with Litton Properties, we assembled this 3 acre site in Sheffield city centre from Sheffield City Council and other private landowners, before securing planning for an 864 unit Co-Living residential scheme.

The project, one of the largest of its type in the UK, was sold to Fusion Living having secured a change of use and detailed planning permission. Completed in 2021 it includes amongst other amenities an indoor basketball court, combat zone, private dining area, roof top bar, on-site library and karaoke bar.

COSMOS, Sheffield site plan

Maps Data: Google, ©2022 Getmapping plc, Infoterra Ltd & Bluesky, Maxar Technologies, The Geoinformation Group, Map data ©2022

250,000 sq ft

£95m

total development costs

3 acre

land assembly

864 Co-living apartments

864

Co-living apartments

Residential Case Study 6

ELV Associates

ELV Associates image

Buccleuch Property has a long tradition of investing overseas with previous opportunities in various markets including Germany, Australia and Sweden. The US has been our longest standing commitment with over 20 years’ experience and since 2017 we have been co-investing with Boston based developer ELV Associates.

ELV are focussed on the Multi Family and student markets along the Eastern Seaboard with current investments in Boston, Washington DC and Atlanta. As a diversification to our UK activities with a highly experienced and financially aligned partner we see our continued exposure to this market as a core part of our business.

$581m

Gross Development Value (GDV) of current projects

$13m

invested by Buccleuch Property

19.7%

blended pre-tax equity IRR

10 projects invested

10

projects invested

4 completed exits

4

completed exits

Residential Case Study 7

Maple Oak

Working in partnership with our Joint Venture partner iMpeC we are building quality family homes in the North East of England under the banner of Maple Oak Homes. With a focus on good design and an attention to detail, we are not just creating homes but new communities. 

The Acorns, Spennymoor, County Durham 

The final phase of this 108 unit development was completed and fully sold at the end of 2021 and offered six different home types, in a high quality environment. 

Barcusclose Lane, Burnopfield, County Durham

We promoted this 12-acre site on behalf of a local landowner. The challenge was to create  attractive homes for people in a development which would also be supported by the local community. Although the site was not included within the Council’s Local Plan, we were able to secure planning consent for 60 homes by designing a scheme which offered value to the local community, including the provision of significant public open space. 

Maple Oak wide image Maple Oak square image

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