Huge venture to create £2.5bn of developments
ANEW joint venture has been formed to deliver up to £2.5 billion worth of property developments in the West Midlands over the next 30 years.
Warwickshire County Council and its property company Warwickshire Property & Development Group have teamed up with housebuilder Countryside Partnerships for the project.
The Essex-based property group won the brief following an 18-month procurement exercise.
The first three projects of the new partnership, called ‘Develop Warwickshire’, will see more than 1,800 new houses built across Warwickshire, the majority of which will be at Top Farm in Nuneaton and the remainder in Warton and Water Orton. Top Farm has outline consent for 1,700 homes and will include a local centre.
A public consultation will begin in the new year on the development of 54 homes in Water Orton and a reserved matters application has been submitted to build 71 homes at Warton and is awaiting determination. Properties created by Develop Warwickshire will be timber-framed and include features such as solar panels.
Stephen Teagle, chief executive of Countryside Partnerships, said: “This new joint venture with Warwickshire County Council enables us to deliver high-quality, mixed-tenure homes at scale across the region.
“By combining the skills of our group with the council’s ambitions to unlock and regenerate its own land assets, we can deliver true regeneration and maximise the benefits for local communities.”
Adam Daniels, Midlands managing director, added: “We have a very strong track record for housing delivery across Warwickshire and the Midlands and this JV builds on our existing partnership with Warwick District Council which is already delivering 620 homes in Kenilworth.
“Over the next 30 years, we can make a major contribution to the area and we can’t wait to get started on our first schemes.”
Warwickshire County Council’s deputy leader Cllr Peter Butlin added: “This partnership is key to our ambition to make the most of the county’s assets for the benefit of local people and local communities.
“Unlocking our sites to create sustainable, high-quality homes and communities is a key ambition for the council and Develop Warwickshire will play a major role in this.
“Working with Countryside Partnerships over a longer period enables us to take a more strategic approach and to maximise investment and efficiency in delivering developments which make our county an even more attractive place to live and do business.”
Stuart Buckley, managing director of Warwickshire Property & Development Group, added: “We are delighted to be moving forward with Countryside, helping to unlock these sites, create homes and stimulate communities.
“The whole reason for our formation is to help realise the potential of the council’s property and land assets and housing is a main pillar of that drive.”