Former Conservative Party Treasurer Lord Stanley Fink has backed the next generation of UK housing with a £3m million investment in turnkey homes pioneer, Project Etopia.
Project Etopia claims to be the only turnkey homes specialist in Britain to create turn-key properties that combine passive design, affordability, renewable energy generation, intelligent heating and cooling systems and smart home technology.
The cash injection from Lord Fink — currently Chairman of investment manager ISAM Europe — will help the company scale up its operations and market share over the next two years. It comes as councils increasingly turn to turnkey building to rapidly boost stock levels of quality homes at drastically lower cost than traditional bricks and mortar.
Project Etopia’s houses all incorporate smart technology, mechanical ventilation, heat recovery, air purification, daylight mimicry lighting, and solar power as standard.
Lord Fink said: “My affection for UK property investments is no secret and, given the current state of the housing crisis, I see a brighter future for first-time buyers if they are able to buy high-quality turnkey houses that offer technology that is relatively rare even in modern new-build developments.
“Project Etopia is a novel, credible, affordable and environmentally friendly way to provide starter homes for young people. Short build times, truly desirable houses and a broken housing market are three good reasons why Project Etopia has a colossal opportunity to deliver a lasting social impact.
“Generations of Britons are frankly desperate to get onto the housing ladder and I’m convinced these types of developments are going to play a central role in making that dream a reality for millions.”
Joseph Daniels, CEO of Project Etopia, added: “I feel so passionately about this business because so many young people are being forced to accept that it’s unlikely they will ever own their own home.
“Traditionally, affordable housing has gone hand-in-hand with low quality housing. We are going to be burying that preconception with homes that are truly ‘des res’ for aspiring professionals and families.
“We’re going to lead the way in providing state-of-the-art housing for a reasonable price tag, while continuing to develop our technology to make each project superior by design and with ever shorter build times.”