A Midlands-based housing association has put its offsite housing subsidiary up for sale, saying the “landscape has changed significantly”.
GreenSquareAccord (GSA), which manages 25,000 homes, said it wants to offload its LoCaL Homes brand to focus on its core social landlord services.
Mona Shah, chief finance and investment officer at GSA, said: “LoCaL Homes has made an important and innovative contribution to housebuilding in the UK, and our product has been used by housing providers on developments up and down the country.”
“However, the landscape has changed significantly and while it has been a difficult decision to exit, it is a necessary one,” he added in a statement this morning.
“We have a strategic objective to simplify and strengthen our organisation to enable us to focus on our core offer and to realise our vision of being a great social landlord.”
LoCaL Homes offers a variety of timber-frame panel products, with flexibility over design, including external cladding and insulation materials.
The Walsall-based business manufactures houses, apartments, schools and care homes for assembly on site.
Shah said GSA was in “active discussions with interested parties” and was “hopeful” a buyer can be found, but added that LoCaL Homes’ factory will be closed in spring 2026 if none can be found.
“We have informed all LoCaL Homes colleagues and customers and our focus in the coming weeks and months will be on supporting them as we continue our search for a buyer.”
GSA is the latest company looking to exit the modular building market, after Lorne Stewart announced it would wind up its offsite subsidiary in July.
The sector has also been beset with business collapses in the past three years, including the demise of Ilke Homes, Mid Group, Eco Modular Buildings and Caledonian Modular.