Founded in 2013 and headquartered in Oxfordshire, Greencore Construction Ltd (“Greencore”) is an award-winning designer and builder of sustainable, high performance, climate positive homes. Greencore’s unique science led solutions are helping the housebuilding sector to change its methods in order to meet the UK governments net zero targets and reduce household energy bills.
M&G Plc has acquired a majority stake in Greencore on behalf of its policyholders in its £143bn Prudential With Profits Fund. The investment will assist Greencore expand its capacity and increase its impact on the housebuilding sector across the UK. M&G plans to invest up to £500m over the next 5 years in sustainable developments of private affordable housing and to do this in partnership with Greencore.
Greencore will shortly be completing Springfield Meadows, an award-winning sustainable housing development in Oxfordshire, one third of which is available for affordable rent or shared ownership. WSP, the leading engineering professional services firm has confirmed that Greencore’s products are at the forefront of sustainable housing in the United Kingdom with negative whole life carbon emissions (-278kg CO2e/M2), well below the Royal Institute of British Architects’ target for domestic of +625kg CO2e/M2 by 2030.
Ian Pritchett, Managing Director of Greencore said “With this investment, Greencore can scale to have a transformational impact on sustainable house building standards in this country. The build environment is one of the best emitters of carbon, both in construction and occupation, we have shown it does not have to be this way. Our homes are sustainable to build and sustainable to live in, which is becoming more important than ever as energy prices continue to spiral.”
Clifton Ingram has a long association with Greencore since its incorporation, having acted on numerous property and corporate matters. Barry Niven, Partner of the Corporate Team said, “We are delighted to have advised Greencore on this important investment which will allow it to continue to provide sustainable, high performance, climate positive homes for the benefit of communities and the environment.”
Commenting on the services provided by Clifton Ingram, Martin Pike, Chairman of Greencore added “Clifton Ingram have shown real understanding of our business and our strategy, and their straightforward pragmatic advice was exactly what we needed to secure this investment into the business on commercial terms that supports the future growth of the business.”