A new housing development under construction in Virginia Water has already provided more than £3.4 million in funding for local services and infrastructure.
The money has been paid to local authorities in the area by homebuilder Bellway as part of its Regent’s Gate development, where it is building 67 new homes on land off Trumps Green Road, next door to Wentworth Golf Course.
It represents the initial tranche of payments in a funding package that will eventually deliver an investment of more than £5.75 million by the time the development is completed – including contributions for infrastructure, affordable housing and wildlife mitigation.
Construction work at Regent’s Gate began last May after Bellway secured detailed planning permission from Runnymede Borough Council to develop the four-acre site. A showhome is now open at the development and the first homes for occupation are due to be ready soon.
The development will comprise 33 apartments and a mix of detached, semi-detached and terraced houses, with public open space including an equipped children’s play area in the western part of the site.
Greg Allsop, Sales Director at Bellway North London, said: “As well as providing a range of aspirational houses and apartments to meet the demand for modern, energy-efficient properties in this highly sought-after location, Regent’s Gate is also delivering a multi-million-pound investment to support infrastructure improvements across the area.
“More than half of the money will be paid through the Community Infrastructure Levy (CIL) for allocation by Runnymede Borough Council to infrastructure projects in the borough, while the rest is being provided in the form of agreed contributions for the provision of affordable housing off the site, wildlife mitigation measures, and bus service improvements.
“These financial contributions form a major part of our investment in the local area, which also includes the provision of new homes, public open space, biodiversity enhancements and road upgrades to create an attractive and accessible location for new residents to live. A significant proportion of this funding has already been paid ahead of the first homes being occupied, with further payments to follow as construction work progresses.”
Bellway has made all four CIL payments due for Regent’s Gate, totalling £3,441,247. The homebuilder has also paid a £41,567 contribution towards wildlife mitigation measures within the Thames Basin Heaths Special Protection Area through the planning agreement for the development.
Future contributions to be made through the planning agreement include £1.67 million towards the provision of affordable housing outside of the development and more than £600,000 for local bus service improvements.
As part of construction work at the development, Bellway is also improving local roads, including an upgraded pedestrian crossing over Trumps Green Road, priority junctions with Wellington Avenue, Tithe Meadows and Crown Road, and an upgrade to the Oak Tree Close bus stop on Trumps Green Road.
Regent’s Gate comprises a mix of one and two-bedroom apartments, and two, three, four and five-bedroom houses, all for private sale. The first houses went on sale last year and a selection of apartments were released onto the market in March this year. A number of properties have now been reserved, and the first residents are due to move into their new homes this month.
A selection of one and two-bedroom apartments priced from £300,000 are currently available at Regent’s Gate, while a range of two to five-bedroom houses are also on the market, with prices starting at £550,000.
For more information about the development, visit https://www.bellway.co.uk/new-