Construction to start this summer on 1,500 home community

Grant Prior 7 years ago
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St Modwen is set to start construction of a new 1,500-home community in South Oxfordshire this summer.

The 227 acre site will be transformed
The 227 acre site will be transformed

The regeneration specialist has submitted a detailed planning application for the 227 acre site at Crab Hill in Wantage.

St Modwen confirmed today it hopes to start within weeks on the first phase 0f 150 homes.

The development will also contain a new primary school, a neighbourhood centre including pub/restaurant and local retail accommodation, sports pitches, employment space and community amenities set around a central park.

St. Modwen will implement the infrastructure works and deliver up to half of the 1,500 new homes through its housebuilding arm St Modwen Homes.

The rest of the development plots will be awarded in tranches and sold to other housebuilders for building out.

St Modwen confirmed the deal in a trading update today which included a new group strategy following a six month review of the business.

It includes plans to accelerate commercial development activity and grow the residential business.

Chief executive Mark Allan said: “Over the last six months we have undertaken a detailed review of the current portfolio and the existing opportunities within our extensive asset base.

“The outcome of this review has been positive, highlighting the strength and depth of opportunity within the business and portfolio to create value through our regeneration, commercial and residential expertise.

“Having experienced a positive start to the year that reflects management expectations, we will now continue to refine the strategy further and concentrate on those areas of our deep and diverse portfolio that present genuine opportunities for value generation and further business growth which will ultimately lead to enhanced shareholder returns”.

 

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