Land deal to bring 1m square feet of employment space and 3,000 homes to Nottinghamshire

A huge £825m residential and employment space development is to be brought forward in Rushcliffe, Nottinghamshire after Homes England signed a deal with CWC.

Homes England has bought 250 acres of the 605 acre site, at Fairham, and will support all aspects of the delivery to accelerate the creation of a high quality and diverse community.

The acquisition will see Homes England working with other land owners, CWC and local authority Rushcliffe Borough Council, on a project that will deliver 3,000 homes and 100,000 sq m of employment space – equivalent to more than a dozen football pitches – over the next ten years.

The site has been secured through the Government’s £1.3 billion Land Assembly Fund, which is used to acquire land needing work to get it ready for the market, and Homes England will accelerate the delivery of the scheme by providing infrastructure loan funding to CWC.

Minister of State for Housing, Kit Malthouse MP, said: “This Government is on an urgent mission to deliver 300,000 new homes a year by the mid-2020s, helping a new generation to realise the dream of home ownership.

“Our £1.3 billion Land Assembly Fund is supporting more than 3,000 new homes in Rushcliffe but it is also about building a community, with new space for culture and commerce – as we create a place the people of Nottinghamshire can be proud of.”

Rushcliffe Borough Council’s Executive Manager for Communities Dave Mitchell said: ”Rushcliffe has been working hard to deliver its local plan which commits to building 13,150 new homes by 2028. Delivery of the Fairham site is essential to our ability to maintain the momentum required, whilst is it is also a strategically important site locally, regionally and nationally for Nottinghamshire County Council, Nottingham City Council and ourselves.

“We will now look forward and remain committed to working closely with Homes England and CWC to ensure the delivery of a high quality scheme that continues to enhance the attractiveness Rushcliffe as a great place to live and work.”

Robert Hepwood, Land and Planning Director at the CWC Group, said: “Our priorities are first and foremost around delivering an exemplar development that will enhance the region and locality, as well as being of the very highest quality and sustainability. With this new investment from Homes England we can move forward more quickly with infrastructure and preparatory work across the site, readying Fairham for its first homes and commercial buildings in 2020.”

Original Story in Business Desk