Executive Summary

This briefing document synthesizes the strategic, technical, and financial frameworks underlying Halo Village, the United Kingdom’s first net-zero carbon Purpose-Built Student Accommodation (PBSA), and its developer, Verto Homes. 

The central takeaway is that Verto Homes is attempting to redefine sustainable living through their “Zero Carbon Smart Homes™” and large-scale communities. Halo Village, located in Cornwall, serves as the flagship for this vision, providing 1,858 student beds while maintaining an operationally carbon-neutral footprint. The project is supported by a robust financial structure.

Key performance indicators include: 

• Revenue to Date: £95.7 million.
• Pipeline Revenue: £291 million.
• Development Scale: 1,858 beds and 13 acres of commercial amenities.
• Efficiency: EPC ratings up to 130A (40% above the minimum ‘A’ rating).

Project Overview: Halo Village

Halo Village is positioned as the world’s first zero-carbon PBSA community. Located at Penvose Farm, Roskrow, near the Tremough Campus in Penryn, it is designed to service students from both Exeter (Russel Group University) and Falmouth universities. 

Development Specifications 

• Capacity: 1,858 beds (en-suite and studio formats), including 97 wheelchair-accessible units.  

• Health & Education: New doctor’s surgery and children’s day nursery. 

• Leisure: Gym, yoga studio, squash and tennis courts, and a sports clinic. 

• Commercial: 48-bed budget hotel, pub, restaurant, café, shopping parade, and business units. 

• Infrastructure: Sustainable transport infrastructure and underground parking with passenger lifts. 

• Environmental Status: Net-zero carbon (embodied and operational). The project includes a 35% net gain in local biodiversity habitats. 

Strategic Objectives 

The development aims to alleviate the pressure on local housing by moving students out of private Houses in Multiple Occupation (HMOs), thereby freeing up residential properties for local families. Economically, the project is forecast to generate over £100 million in Gross Value Added (GVA). 

Developer Profile: Verto Homes 

Founded in 2010, Verto Homes specializes in “Zero Carbon Smart Homes™.” Their business model integrates advanced design with renewable energy systems to create operationally carbon-neutral environments. 

Technical Innovation 

Verto’s homes utilize a “Zero Bills” concept pioneered through a strategic partnership with Octopus Energy. This is achieved through: 

• On-site Micro-generation: Integrated solar PV panels. 

• Energy Storage: Home battery systems that store unused energy. 

• Climate Control: Ground or air source heat pumps, triple-glazed windows, and Mechanical Ventilation with Heat Recovery (MVHR). 

• Smart Integration: Homes connect to a proprietary trading system to optimize energy storage and usage. 

Corporate Performance and Pipeline 

Financial Structure and Investment

Verto utilizes a blended finance approach to support its rapid scaling and land acquisition strategy. 

Management Expertise 

The leadership team possesses significant industry experience: 

• Richard Pearce (Co-Founder): Focuses on land acquisition, planning, and legal strategy. 

• Tom Carr (Co-Founder): Creative lead for design and sustainable vision. 

• David McManus (Construction Director): Formerly Construction & Safety Director at Kier; managed projects worth £3.5 billion in Saudi Arabia. 

• Joshua Carr (Group Financial Accountant): Chartered Accountant instrumental in securing over £100 million in funding. 
  

Community and Economic Impact

The Halo Village development is expected to serve as a major economic catalyst for the Cornwall region. 

Employment Generation 

• Construction Phase: Estimated 1,550 jobs created over the build period. 

• Operational Phase: 350 permanent jobs once the village is fully functional. 

Planning and Public Benefit 

Despite initial rejection in 2023, the scheme received planning consent in 2024. Verto has utilized a Planning Performance Agreement (PPA) with Cornwall Council to manage the complex requirements of the 1,858-bed site. The development is crucial for Falmouth, which currently suffers from a high concentration of HMOs due to university growth targets for 2030. 

“The approval for this development is a significant step forward as we bring much-needed accommodation for students, freeing up local properties and delivering new amenities for use by the whole community.” — Tom Carr, Co-Founder, Verto Homes.