A joined venture between two housing associations and a housebuilder has been formed to deliver a £47 million development to build 250 new homes on a “coveted” site in Preston.
Trafford Housing Trust (THT) and London-based L&Q have joined with Willmott Dixon to create the joint venture company, Laurus Partnership Homes LLP to develop the Homes England site on D’Urton Lane.
Situated in the Fulwood area of Preston, the £47 million development will consist of a mixture of two-, three- and four-bedroom homes and will also include green space. Over half of the homes will be either for shared ownership or “affordable” rent. The remaining homes will be for outright sale.
Subject to planning approval, the joint venture partnership will purchase the land for development and begin construction in 2019. Willmott Dixon has committed to delivering the homes at an accelerated pace, which reflects a key element of the Government’s 300,000 homes per annum target.
“D’Urton Lane meets our core objective of tackling the current housing crisis, which is leaving hard working families struggling to make ends meet, and reflects our commitment to developing affordable homes,” said Larry Gold, THT’s acting chief executive. “We are proud of our innovative development model which sees us reinvest all profits into providing more new homes and supporting wider social purpose initiatives – a model which we believe should be rolled out across the sector.
Anthony Dillon, managing director of Willmott Dixon in the North, said: “We and Trafford Housing Trust are community focused businesses that will not only deliver high quality new homes but, as partners in this LLP, will also deliver enhanced inward investment into the local community, going beyond just the bricks and mortar.
“We see the D’Urton Lane project as a great opportunity to achieve a wide range of community beneﬁts. We are committed to providing apprenticeships and work experience for local people of all ages as well as working closely with local schools and colleges to leave a lasting legacy.
“As part of Laurus Partnership Homes we will work tirelessly in establishing a partnership with Homes England and its stakeholders to deliver a high-quality development which delivers aspirational new homes and achieves an accelerated pace of delivery.”
Duncan Inglis, head of accelerated delivery at Homes England, said: “Homes England is delighted to see a high quality contemporary proposal for this prestigious site, which will provide a scheme of 250 new homes, 127 of which will be affordable housing.
“Once on site our selected developer will embrace modern methods of construction to help increase the speed of construction and build out. They will adopt a sub-assemblies and components approach, which includes building techniques such as the installation of pre-cast ground floors, first floor cassettes, and installing pre-formed wiring looms.”
Elsewhere, in a separate development, THT’s subsidiary, Laurus Homes, is working with Whitfield & Brown and Assura on a £6.5 million project in Baker Street, Timperley, in Greater Manchester.
The scheme includes a medical centre and library, along with 29 one- and two-bedroom luxury apartments.
The development, based around the town’s Baker Street area, consists of two standalone buildings; one consists of the new medical centre on the ground floor, community library on the first floor and four luxury apartments on the second floor. The second building is a three-storey residential block with 25 one- and two-bedroom apartments.
Graeme Scott, THT’s development director, said: “Baker Street reflects our commitment to partnership working and building high quality homes and communities. Almost half of the apartments are available through shared ownership, which reflects our aim to get everybody on the housing ladder.”
Fifteen of the apartments will be offered for open market sale while the remaining 14 will be sold on a shared ownership basis.
Nigel Biggs, managing director of Whitfield & Brown said: “We are thrilled to be working as a strategic partner with Laurus Homes and Trafford Housing Trust once again. The relationship extends to three previous high-first class developments which have created stylish homes for professional and families. The popularity of each of the developments being evidenced with the accelerated purchase of the properties and leasing of the retail opportunities.”
The design of the buildings is complete, with the site now cleared in preparation for foundations and delivery of structural steelwork. Construction work will complete in Autumn 2020.