Lands Improvement has completed the sale of a land parcel to developer Stonebond and Bedford-based housing association bpha.
Stonebond will deliver a 100% affordable scheme, with bpha taking all of the 236 new homes to help meet a growing need for affordable housing in the area.
Linmere is being brought forward by the Houghton Regis Management Company (HRMC), a consortium comprising Lands Improvement, Aviva and the Diocese of St Albans. On behalf of its consortium partners, Lands Improvement is leading on the development, which is situated north of Houghton Regis. Linmere’s collection of leafy and walkable neighbourhoods is set to be a new centre for South Bedfordshire.
The homes will sit within phase 3A of the wider Linmere development, which will ultimately deliver up to 5,000 homes, along with 90 hectares of green spaces, shops, community facilities and schools. Approximately 400 homes have been already completed at Linmere by Barratts, David Wilson, Bellway and Stonebond.
James Stone, Managing Director of Lands Improvement said:
“This deal is a great way to round out the year, and another string in the bow of the growing partnership between Houghton Regis Management Company, Stonebond and bpha at Linmere that spans multiple phases. This site sits adjacent to another parcel being delivered by bpha, and together they will create a fantastic gateway to the development that elevates the centre of Linmere, while providing much-needed affordable homes for the growing community.”
The homes will be provided in shared ownership, social rent and affordable rent tenures and will include one- and two-bedroom apartments and two-, three- and four-bedroom houses.
Thanks to the partnership with bpha, the site will deliver 192 additional affordable houses over the S106 requirements, delivering much-needed affordable housing to the area.
The site is Stonebond’s second land purchase at Linmere, which now totals a portfolio of 437 homes to be constructed.
Peter Williams, Managing Director of Stonebond St Albans, said:
“Linmere is set to become a major new community and we’re delighted to be bringing forward more than 400 new homes across these two land parcels. By working in partnership with bpha, we are able to deliver this latest phase in 100% affordable tenures, which will have a significant impact on the area’s affordable housing supply.”
James Edge, Assistant Director of bpha, said:
“We are excited to be delivering 102 affordable rent and 134 shared ownership homes in partnership with Stonebond to this vibrant community. All the homes will benefit from the latest building regulations including air source heating, which will also help to reduce energy costs.”
Construction works are due to commence in 2024 with the first homes delivered during 2025.