Sekisui House has partnered with the government’s housing delivery agency Homes England and developer Urban Splash in a bid to increase the supply of homes in the UK using modern methods of construction.

The deal will see Sekisui House and a number of other partners invest in developer Urban Splash’s new ‘House’ development business, which will focus on the delivery of modular homes.

This investment will include £22m of new equity from Sekisui House, £35m from Urban Splash and £30m of equity and debt funding from Homes England.

Sekisui House will own a 35% stake in the business, Urban Splash will hold 55%, and Homes England will own 5% of the business.

Noel McKee, owner of We Buy Any Car, will also own 5% in exchange for a £2.5m equity investment.