It has established a new subsidiary for the acquisition, Eco-Space 41 Ltd (ES41), and aims to build homes in just 41 days.
The target market for ES41 homes are three-bedroom affordable homes to be developed for between £100,000–115,000.
Staminier will also acquire an interest in an SPV which has the rights to obtain a development site in Hertfordshire.
It is hoped that 14 luxury homes will be built in the first phase of development at this site, subject to planning.
- DFT roundtable: Aggressive business plans, development delays and managing expectations
- Unite Group confirms acquisition discussions regarding Liberty Living
- Government to scrap leasehold for all new-build houses
Tim Stanton, director at Staminier, said: “We are delighted to have reached agreement to acquire a scalable and innovative solution to the pressing affordable housing market crisis in the UK.
“This fast-build, low-cost and energy-efficient housing product could play an influential role in meeting the large demand for affordable homes in the coming years.
“The added planning gain opportunity makes this a deal that gives opportunity for a near term significant increase in Staminier shareholder value, while the longer-term opportunity for this housebuilding business is highly compelling.
“We hope to be a significant player in the low-cost, fast-build and energy-efficient affordable homes market in the coming years.”