The housing provider has secured a 46 acre prestigious site on the edge of Harrogate, North Yorkshire in the face of tough competition from long established commercial rivals. The land will be used to build predominantly family homes.
The multi-million pound deal will enable the Newcastle headquartered company to build almost 350 homes. The majority of the homes will be sold for private sale with some affordable homes also provided.
The site is at the junction of the Otley Road and Skipton Road and adjacent to the new groundworks on the Bellway Scheme.
Sean Egan, Home Group director of development, said:
We’re delighted to have acquired this land in what was a very competitive bidding process. It’s clear that our financial strength, including our healthy surplus and favourable borrowing rates, were a significant factor in our successful bid.
Our appetite for new land opportunities is strong. We will deliver outstanding new homes on this site. The deal supports our growth strategy which is to build more mixed tenure communities and overall 50% of our development programme will involve homes for private sale.
CEG secured outline planning permission for the site and has worked closely with Harrogate Borough Council to masterplan an attractive scheme.
David Hodgson, CEG’s Regional Head of Strategic Development, North, said:
We specialise in placemaking and we masterplan our schemes to enable the creation of vibrant new communities. We look forward to seeing Home Group deliver the Skipton Road development.
The land already has already been granted outline planning permission for 345 homes ranging from two bedroom to five bedroom properties.
Mr Egan added:
This is a prime site in a very popular town where there is a high demand for housing. We intend to deliver high quality homes which will be sought after by those wanting to live in the area.