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Cambridge Challenge - Southern Fringe Sites
11th Nov 2009
As has previously been reported, Henry Riley LLP were recently selected by Cambridgeshire Partnerships Ltd (CPL) to be one of five organisations to act as their EA's on the Cambridge Challenge Sites, on which CPL have funding to provide 3,300 affordable homes across the Cambridge area.
CPL have now, assisted by ourselves, signed a Development Agreement with the Trumpington Meadows Land Company (TMLC) to facilitate the delivery of 480 of these homes on a new estate almost adjacent to our Cambridge office in Trumpington.
The whole estate will comprise 1200 units, with 40% being affordable homes, together with a school and new Country Park along the river Cam. TMLC will provide estate wide infrastructure and then sell serviced parcels to house builders, who will be required to work with CPL and ourselves to provide the affordable homes along with their own for sale units
A major UK house building is currently looking to purchase the first 4 of 10 development parcels from TMLC and we are currently in negotiations with them on the terms and conditions covering their delivery of 145 affordable homes on these initial parcels, with an estimated value in the range of £15-20M.
Infrastructure works on the estate have commenced and the first house delivery is expected mid 2011. |
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