£10bn Homes England loan will help build 1,300 new homes in Cambridge

£10bn Homes England loan will help build 1,300 new homes in Cambridge

More than 1,300 new homes are to be built in Cambridge by two local firms with funding from Homes England. The homes will be built on a new development called Wing, which is 160 acres of brownfield land, and financed through a 10-year loan worth £22.4 million from Homes England, the agency set up to help deliver more new homes.

The project will be delivered by Hill Marshall LLP, a joint venture between Marshall Group Properties and housebuilder Hill, both of which are family-owned businesses in Cambridge. The brownfield site is owned by the Marshall Group.

Financing essential infrastructure

The loan from Homes England will finance infrastructure works for the development, including roads, drainage network, pumping station and strategic landscaping. Nearby roads will also be upgraded while the ground running enclosure at the nearby airport will be relocated to reduce noise effects.

Wing's architects Pollard Thomas Edwards say the development will be an urban development, not a housing estate. Its location, to the north of Newmarket Road in the city and close to its park-and-ride facility, will appeal to commuters and local residents alike.

Hill, a UK top 20 housebuilder, will deliver the first phase of the development comprising of 350 private homes and 150 affordable homes. The properties will range from one, two and three-bed apartments to two, three, four and five-bed homes, while the development will include a new primary school, sports pitches, allotments and retail and commercial space. The first homes are expected to be complete in 2020.

Delivering a new community

A spokesperson for Hill Marshall LLP said: "Marshall Group and Hill are two like-minded family firms committed to making Cambridge one of the best cities to live in the UK.

"We are delighted to have secured new funding from Homes England's Home Building Fund for this development in the city – it will ensure we are able to deliver an outstanding new community for local residents in half the amount of time it would normally take.

"Cambridge has long been established as one of the best places to live in the UK and this new community seeks to add further to the City's success."

And Nick Walkley, Homes England chief executive, added: "This loan through our Home Building Fund is a significant step towards seeing this 1,300 home new community at this key development site in Cambridge become a reality and I look forward to seeing work start on site."


by Frances Traynor
Friday 1st of June 2018 02:26:20 PM