The brownfield site in a former industrial area is now set to be repurposed into a residential scheme of houses and apartments, comprising 50% affordable homes.
A £40m deal was agreed between Countryside Partnerships and Gresham House Residential Secure Income LP (GH ReSI LP) — a partnership that invests in shared-ownership housing — to deliver 167 of the homes as affordable housing through accessing government grant funding.
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GH ReSI LP will deliver 159 shared-ownership and eight affordable rented homes, with the rest of the site being sold on the open market.
The shared-ownership homes will boast private gardens or balconies, fitted with heat pumps that will ensure the apartments are built to an EPC A standard.
Construction is set to begin later this year with the first builds due to be completed in early 2025.
Darren Dancey, MD at Countryside Partnerships West, commented: “We are delighted to work with Gresham House on this development, which will have a real positive impact for the local community.”
Ben Fry, MD of housing at GH ReSI LP, added: “It is a pleasure to be working with Countryside Partnerships on this scheme, which will help to support economic growth and social well-being in the local area and provide much needed affordable homes.”