The Midlands-based property developer, Prosperity Group, has announced the expansion of its business, with a new focus on the affordable homes sector.
Headquartered in Birmingham’s Jewellery Quarter, Prosperity Group is a niche residential developer that specialises in the building and selling of buy-to-let apartments in key locations across the UK. The developer recently announced the launch of their new division, ‘Prosperity Homes’, focusing on developing affordable and desirable homes for owner-occupiers.
Prosperity Homes launched its first housing development this month, introducing a 300-home development on a 30-acre site in Downham Market, West Norfolk.
The Borough Council of King’s Lynn and West Norfolk has already granted outline planning for the 300 homes, which will comprise of a mix of one-bed maisonettes, and two-, three- and four-bedroom family homes. Prosperity says that 60 of which will be affordable homes.
Commenting on the development and the plans for what lies ahead, Joe Billingham, CEO of The Prosperity Group, said: “Our group ethos is centred on a commitment to providing high-quality properties, and we’ve developed a solid reputation for bringing profitable pre-built and off-plan property investments to market.
“Now we’re pleased to be able to offer this to both the investor and owner-occupier markets through Prosperity Homes. This is a welcome addition to the developments team, which has built and delivered more than 3000 homes across the UK since 2007 and to our sales arm, Prosperity Wealth, which comprises industry experts who build wealth for clients via secure high yielding buy-to-let property.
“The launch of Prosperity Homes is an exciting new chapter for our business and will enable us to build and deliver attractive homes for modern-day living. We are committed to developing on high-quality sites that are located in areas with good amenities, schooling, transport links, recreation and leisure venues.”
The Prosperity Group has a portfolio of 39 new-build and conversion projects with a gross development value (GDV) of more than £420 million.