Barratt Developments has entered a joint venture with Homes England and Lloyds Banking Group.

The new venture, which the partners are calling MADE Partnership, will act as a master developer for multiple large scale, residential-led developments from 1,000 to more than 10,000 homes along with a variety of community facilities and employment uses.

Potential development opportunities will include large brownfield developments, as well as new garden village style communities.

The move will be a long-term partnership, initially backed by combined equity funding of up to £150m provided equally by the partners.

Chief executive of Barratt Developments, David Thomas, said: “We are committed to playing our part in delivering the millions of new homes the country needs over the next 10 to 20 years. To help us achieve this goal, we need to deliver more large developments.

“Through the MADE Partnership, we are creating a master developer which can manage the infrastructure and placemaking that is needed to deliver at scale, whilst consistently achieving the high quality and sustainability standards that Barratt is known for.”

Chief executive of Homes England, Peter Denton, commented: "MADE Partnership will provide a master developer platform with the ambition and capability crucial for creating not just the homes but the vibrant, diverse places England needs.”

Lloyds chief executive, Charlie Nunn, added: “This is the cross-sector collaboration we need, at significant ambition and scale.”

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