THE first phase of plans to build 150 homes in Bolton has been given the green light together with a £10 million funding deal for more housing across the North West.
A new northern-based homebuilder and placemaker called Northstone, part of Peel L&P, received planning approval from Bolton Council last week. This opens the way for work to start work on its first scheme of 19 homes for private sale at Roscoe’s Farm in Westhoughton.
The company has also secured a multi-million credit facility with HSBC UK to support the growth of Northstone and fund further sites to deliver more homes for the region.
The Bolton Road development in Westhoughton, named Roscoe’s, will offer a range of two-, three- and four-bed properties, and the first 19 homes form part of a bigger plan to develop further 131 homes at the site, subject to future planning.
“These are really important milestones for Northstone and we’re really excited to have planning consent and funding in place to start delivering our vision with our first homes in Bolton,” said Phil Wilson, Northstone’s chief executive.
“We’ve worked with the council and residents to shape the plans for our Roscoe’s Farm scheme which meets local housing needs and we’re confident will meet the needs of generations to come.
“We look forward to working with HSBC UK to build much-needed quality homes and set a new benchmark for design and quality of residential development across the North West.”
Northstone launched in October last year. Work at Roscoe’s is expected to start in autumn 2019 with the completion of homes due in April 2020.
Planning permission for 106 new homes at Roscoe’s Farm was initially granted to Jones Homes in 2016. Northstone subsequently purchased the site and has worked with Bolton Council and the community to redevelop the plans and house types to better suit the needs of the area.
Kevin Dawson, relationship director for real estate, HSBC UK, said: “Entering the housebuilding market, with its long established players, could seem like an intimidating prospect for many, but Phil and his team have gone about their business with confidence and commitment.
“With access to Peel Group’s land portfolio and HSBC UK’s financial backing, Northstone will undoubtedly make an impact on the robust North West housing market. We’ve supported the wider Peel Group for over 20 years and we look forward to seeing Northstone deliver much needed housing in the North West and further afield.”