First build now, pay later housing sites unveiled

Aaron Morby 13 years ago

Housing minister Grant Shapps has named the first six sites where cash-strapped house builders will be helped under the new ‘build now, pay later’ initiative.

The new Government scheme allows house builders to build and sell homes first before having to pay for the land.

David Wilson, Countryside, Keepmoat and Swan Homes have emerged  big winners in Government’s first tranche of sites to build 3,000 homes.

It is one of a raft of new measures designed to boost the ailing house building recovery.

The schemel pave the way to build 3,000 homes, safeguarding 18,000 building jobs.

Six build now, pay later sites

Hemel Hempsted
The Crown Estate and Homes and Communities Agency jointly own the site at Spencer’s Park, where planning consent is in place for a 372-home development known as Cherry Tree Lane.

Park Prewett, Basingstoke
David Wilson Homes is preferred developer to redevelopment of a former hospital site in Basingstoke, with up to 585 homes.

Blackwall Reach, Tower Hamlets
Developers Swan/Countryside will be able to start work on the £500m Robin Hood Gardens housing estate redevelopment in the London Borough of Tower Hamlets. The new plans include creating over 1,600 new homes, nearly 700 of which will be affordable.

Ransome Road, Northampton
Town centre land owned by organisations including Northampton Borough Council and Network Rail for 450 homes, with plans for a further 800 homes once a new road link has been built.

Cotgrave, Rushcliffe, Nottinghamshire
Plans include the development of a 4.6-hectare former colliery site with 470 new homes and regeneration of the town centre. The land is owned by organisations including Rushcliffe Borough Council and the local Police Authority.

Croppings, Lightmoor, Telford
Keepmoat is preferred developer to build 100 homes at Lightmoor Village. This is part of a wider development of the village which will see a further 370 new homes are expected over the next three years.

The Government is seeking to stimulate the industry after house building levels have slumped to the lowest peacetime level since 1924.

Shapps will say that making public land available could offer a huge boost to the numbers of homes being built and jobs supported.

Up to 40% of land suitable for housing development is believed to be owned by the public sector, and making it available could deliver 60,000 homes over 10 years.

The Government also aims to sell military land to raise £350m and pave the way for developers to build 20,000 homes by 2015.

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