Affordable housing: Former Lloyds data centre in Pudsey set to be transformed into 124 homes

The banking group said the project demonstrates how disused buildings can be refurbished to create homes.

In a statement, Lloyds said: “Subject to full planning approval, the proposed scheme will deliver a mix of houses and apartments, all affordable.

"Approximately 70 per cent of the homes will be available for rent, the majority at social rent levels, with the remaining 30 per cent offered through shared ownership.”

Charlie Nunn, Group Chief Executive, Lloyds Banking Group, said: “Greater partnership across the public and private sectors is fundamental in achieving the UK’s national ambition for the biggest increase to social and affordable housing in a generation.

“We have the bold ambition, and what’s needed now is momentum. Recent Government commitments have unlocked immense opportunity for renewed investment, accelerated delivery and innovation at scale.

"We want to deliver more good quality and genuinely affordable homes, in the places they’re needed most.”

Mr Nunn hosted the Social Housing Forum (SHF) in London, which brought together leaders from housing, finance, government and the third sector.

The statement added: “The SHF is part of the Social Housing Initiative (SHI), launched by Lloyds Banking Group in 2023 to design and deliver practical, scalable solutions to the housing crisis. Its work is grounded in partnership, convening organisations from all three sectors to move from strategy to delivery.”

Deputy Prime Minister and Housing Secretary, Angela Rayner said: “This Government will deliver the biggest boost to social and affordable housebuilding in a generation, unleashing a social rent revolution and embarking on a decade of renewal for social and affordable housing across the country.

Ms Rayner added: “We need all parts of the social housing sector to help us meet this ambition and turn the tide on the worst housing crisis in living memory.

"By working together in partnership across the public and private sectors we can deliver the homes and living standards working people and families desperately need through our Plan for Change.”

Earlier this month, Ms Rayner announced plans to build 180,000 new social homes in the next decade as the Government seeks to “turn the tide on the housing crisis”.

Ms Rayner’s target for social and affordable housing formed part of a wider long-term plan setting out how the Government both builds more houses and improves housing standards.

Mairi MacRae, housing charity Shelter’s director of campaigns, said the focus on social housing was “a vital step in tackling the housing emergency and getting homelessness under control”, but urged the Government to do more.

Lloyds Banking Group said that since 2018, it has provided more than £20bn in funding to the housing sector supporting everything from large-scale developments to smaller, community-led schemes.

Earlier this year, Lloyds Banking Group joined The Royal Foundation’s Homewards programme, which aims to demonstrate that homelessness can be ended through partnerships.