Housebuilder Hill, which has offices throughout East Anglia, has joined forces with Clarion Housing Group to purchase a new residential site to the west of Cambridge.
The scheme currently has outline planning approval for 155 new homes and is to be built in the village of Hardwick, just six miles from the centre of Cambridge and within the rapidly evolving Oxford-Cambridge arc corridor.
The development has a Gross Development Value (GDV) of around £55 million and will include a mix of one, two and three-bedroom homes. 40% of the homes will be affordable tenures, with Clarion Housing managing 43 shared ownership properties and 19 homes for affordable rent. The remaining 93 properties will be for private sale.
Hill is expected to begin building work in the autumn of 2020, subject to final planning approval.
Rob Hall, Deputy Managing Director of Hill, said: “We are thrilled to be partnering with Latimer again to deliver what is set to be a fantastic addition to Hardwick. As a company, we strive to build distinctive and high-quality homes, with Cambridgeshire being a big area of focus for us.”
“We look forward to the continued expansion of our portfolio in the region and we’re excited to see our ambitions for this project come to life when we begin construction later this year”.
Richard Cook, Group Director of Development for Latimer, Clarion Housing Group’s development arm, said: “We are delighted to be in a joint venture with Hill on a scheme that will deliver a new mixed community in a region of the country where there is high demand for homes of many different tenures.”
“Alongside homes for the private sale, this development will deliver much-needed affordable rent and shared ownership homes, enabling more people to benefit from all that Cambridgeshire has to offer.”
Latimer aims to help tackle the housing crisis by building high-quality homes and creating sustainable and thriving communities. The profits from Latimer schemes are reinvested into Clarion Housing Group to build more affordable homes, improve and maintain existing homes and support communities through the Group’s charitable foundation, Clarion Futures.