Homes England signs deal to build 3000 homes in Nottinghamshire.
The deal will support 3,000 new homes and 100,000 square metres of employment space. The site is in Rushcliffe and has a gross development value of £825million.
The government’s housing accelerator has today announced a deal unlocking 3,000 homes in Rushcliffe, Nottinghamshire, to support the delivery of much needed new housing in the area.
Homes England has acquired 250 acres of the 605 acre site, known as Fairham, and will support all aspects of the delivery to accelerate the creation of a high quality and diverse community.
The acquisition will see Homes England working with other land owners, CWC and local authority Rushcliffe Borough Council, on a project that will deliver 3,000 homes and 100,000 square metres of employment space – equivalent to more than a dozen football pitches – over the next ten years.
The site has been secured through the Government’s £1.3 billion Land Assembly Fund, which is used to acquire land needing work to get it ready for the market, and Homes England will accelerate the delivery of the scheme by providing infrastructure loan funding to CWC.
Minister of State for Housing, Kit Malthouse MP, said: “This Government is on an urgent mission to deliver 300,000 new homes a year by the mid-2020s, helping a new generation to realise the dream of home ownership.
“Our £1.3 billion Land Assembly Fund is supporting more than 3,000 new homes in Rushcliffe but it is also about building a community, with new space for culture and commerce – as we create a place the people of Nottinghamshire can be proud of.”
Executive Director for Land Stephen Kinsella said: “Homes England is committed to working creatively with local authorities that have clear growth ambitions and we have worked closely with Rushcliffe Borough Council to ensure this site is unlocked to deliver new homes in an area of high affordability. Our acquisition of this land is an example of how Homes England can provide more certainty for the delivery of infrastructure and will accelerate overall development. Homes England and CWC will work jointly as Master Developers to deliver the primary infrastructure to create a high quality sustainable urban extension.”
Rushcliffe Borough Council’s Executive Manager for Communities Dave Mitchell said: ”Rushcliffe has been working hard to deliver its local plan which commits to building 13,150 new homes by 2028. Delivery of the Fairham site is essential to our ability to maintain the momentum required, whilst is it is also a strategically important site locally, regionally and nationally for Nottinghamshire County Council, Nottingham City Council and ourselves.
“We will now look forward and remain committed to working closely with Homes England and CWC to ensure the delivery of a high quality scheme that continues to enhance the attractiveness Rushcliffe as a great place to live and work.”
Robert Hepwood, Land and Planning Director at the CWC Group, said: “Our priorities are first and foremost around delivering an exemplar development that will enhance the region and locality, as well as being of the very highest quality and sustainability. With this new investment from Homes England we can move forward more quickly with infrastructure and preparatory work across the site, readying Fairham for its first homes and commercial buildings in 2020.”
For more information contact Kate Hall, Communications Officer at Homes England on 0115 852 6900 or email kate.hall@homesengland.gov.uk.