Swiss Life, Homes England & Capital&Centric to fund housing

Swiss Life Asset Managers, Homes England and developer Capital&Centric have launched a partnership to deliver a major programme of mixed‑use housing across parts of England that have seen limited recent investment. The joint venture, branded the Impact & Places Partnership, will target more than 2,250 homes and a development pipeline valued at approximately £860m.

The tie‑up combines institutional capital with local development expertise. Swiss Life Asset Managers brings balance sheet scale and residential experience — the firm manages around £259bn of assets globally — while Capital&Centric contributes its track record in regeneration and design‑led neighbourhoods. Homes England will provide public sector land, funding levers and delivery support to steer projects into communities where supply is most constrained.

Government and partners framed the arrangement as a model for unlocking institutional investment into regional housing markets. Housing minister Steve Reed stressed the deal channels private capital towards places outside the biggest city centres, aligning with wider targets to increase housing delivery across the country.

From a market perspective, the JV reflects growing appetite among asset managers for long‑income, residential development in the UK. Institutional investors have been steadily expanding allocations to residential development and build‑to‑rent strategies as yield compression in other real estate sectors persists and rental demand remains strong. For underinvested towns the combination of public land and patient capital can materially shift feasibility.

Jan Plückhahn, Head of Real Estate at Swiss Life Asset Managers, said the partnership represents an extension of the firm’s residential ambitions beyond its Continental European core into the UK regions. Simon Century, Chief Investment Officer at Homes England, highlighted the JV as an example of using public resources to attract private finance and support smaller builders and placemakers.

Tom Wilmot, Joint Managing Director of Capital&Centric, said the venture will focus on high‑quality, energy‑efficient neighbourhoods and emphasised that delivering social value remains central to the approach. The partners plan schemes that mix homes with local retail, workspace and community facilities to boost long‑term place resilience.

For local authorities and small builders, the JV could raise land remediation, planning and delivery capacity. Over the next decade the partnership aims to sequence sites to maintain a steady development cadence, supporting jobs and supply‑chain activity while seeking stable returns for investors. The deal is notable in illustrating how blended public‑private structures are being deployed to tackle regional housing shortages while offering institutional investors exposure to residential development upside.