ISLE OF MAN, UK, Oct. 31, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Lucent Group (Lucent), the site assembly and land development specialist, has attracted a £20 million land investment from a UK public sector pension fund into its Lucent Strategic Land Fund (LSLF), the largest single UK institutional investment in the fund to date.
The investment is a vote of confidence in Lucent's ability to generate returns from the strategic development of land in partnership with local authorities and landowners in the UK. This news comes as one of Lucent's largest schemes, Lincolnshire Lakes, received outline planning permission (Wednesday, October 22, 2014).
The consent of this hybrid planning application gives the green light for 3,000 new homes to be built and major infrastructure works to be completed. The plan forms part of the wider Lincolnshire Lakes project, one of the largest development investment opportunities in the country which is forecast to provide 6,000 new homes, accelerate regeneration and bring inward investment opportunities to the area.
The outline planning consent will enable housebuilders and other development partners to acquire 'development ready' land within Lincolnshire Lakes.
Other projects currently being brought forward by Lucent include the Royal Pier Waterfront in Southampton, a development partnership with Morgan Sindall Investment Partners Ltd, and a Local Investment Partnership (LIP) with Allerdale Borough Council in Cumbria.
Planning applications will be submitted in early 2015 for these schemes. They will create high quality opportunities for developers and house builders to acquire 'shovel ready' sites with outline planning permission in place. Lucent is discussing further major development projects with local authorities and other partners across the UK.
Commenting on the recent news, Charles Flynn, Lucent Group's founder and CEO, said: "Lucent is able to accelerate the pace at which local authorities can bring land forward for development by working in partnership to provide the investment, land acquisition, project management and planning expertise for large scale schemes. This in turn helps encourage further inward investment into the wider community, creating employment and prosperity.
"Our ability to fund these long-term projects responds to the UK housing market's growth challenges. With all the UK political parties acknowledging the need to build more than 200,000 new homes annually to meet current demand, our approach performs an essential role in the housing industry, providing essential capital to deliver strategic land projects and assist developers.
"With these market forces set to strengthen, we are confident in the opportunities for Lucent to create value for its partners and LSLF shareholders in the months and years ahead."
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