HGP and Stonewood Partnerships (‘Stonewood’) are pleased to announce that Stonewood will be the first partner in the South West and part of the first wave of partners supported by the recently established Regional Growth Initiative (‘RGI’), which forms part of HGP’s newly created £300m property equity fund.
Stonewood is the housing development division of the Stonewood Group, an award-winning construction and development group with over 45 years of experience in delivering high quality schemes throughout the Cotswolds, Central, South and South West England.
The Stonewood Group also consists of Stonewood Builders, the specialist contracting arm of the Group; Stonewood Homes which works closely with Stonewood Builders to deliver small size and bespoke developments; Earthstone Construction which devises and implements technical groundworks solutions; and Stonewood Design, the architectural practice that is well equipped with depth of experience in high-end residential and commercial design. The various business divisions operate independently, however the knowledge base is shared and divisions can collaborate on opportunities to provide highly efficient and effective solutions for their customers.
Stonewood, has an excellent track record of delivering premium, medium sized residential schemes, with a focus on new build developments of between 20 – 100 units. Typically, schemes are situated in consistently popular, rural locations and deliver family housing that respects the local character, whilst developing a unique sense of place.
The RGI is a 4-year commitment that will see HGP investing up to £15m of equity alongside Stonewood in residential developments across Wiltshire, Gloucestershire, Oxfordshire, Somerset, Berkshire and Devon, and will allow Stonewood to increase annual productivity and grow into an established regional housebuilder in a sustainable manner.
HGP’s relationship with Stonewood has continued to flourish since HGP’s £1.9m equity commitment in 2019, supporting Stonewood’s Somerbrook development in Wiltshire. Access to the RGI will be transformational for Stonewood, enabling the acceleration of its growth plans whilst facilitating the production of over 400 homes by the end of 2027, which will help address housing affordability in the undersupplied South West of England.
Commercial Director of Stonewood, Adam Marks commented: “We could not be more delighted to be one of the first companies to have signed up to the RGI fund with the Housing Growth Partnership. The relationship between us has been nothing short of excellent since 2019 despite all of the unprecedented challenges that we have faced in that time. Having the RGI fund behind us will allow us to accelerate our growth and also become much more agile & confident in terms of future opportunities and how we can approach them.”
Arnaud de Blay, Investment Director of the South West at HGP commented: “We are very pleased to be able to continue our support of Stonewood and its growth aspirations through the RGI £15m commitment. We are confident that Stonewood’s quality will mark the venture as a great success and access to the fund will be transformational for Stonewood’s business over the next few years.”
