Bromford has announced it has entered into a multi-million pound partnership with a national housebuilder to deliver hundreds of affordable homes in Gloucestershire
The housing association has secured a deal with Taylor Wimpey to build 455 homes at Innsworth, in Gloucestershire, in Bromford’s biggest deal of this kind to date. Bromford’s homes will be a mixture of one to four-bedroom houses and flats for rent and shared ownership and form part of its increasing development programme. They’re part of a larger development of 1,300 homes being built on the site along with infrastructure, a business park, and a primary school.
Bromford’s executive director of new homes Martyn Blackman said: “We’re delighted to confirm this partnership with Taylor Wimpey which is the biggest in our history and strengthens our already excellent relationship with them.
“We’re committed to investing in building new homes to help meet the rising demand for affordable homes. We’re already one of the biggest builders of affordable homes in the country and aim to build on this to deliver 14,000 new homes by 2028. To meet this goal we will be seeking further opportunities to work together with housebuilders on projects like this one with Taylor Wimpey, as well as increasing the number of new homes we develop ourselves.”
James McLoughlin, business development lead at Bromford, added: “We’re excited to be working with Taylor Wimpey to provide affordable housing for hundreds of local families.
“Gloucestershire is an important area for us and the addition of these homes will help to tackle the housing crisis here. House prices across the county are more than ten times average earnings, which is increasingly pricing many out of the housing market and increasing the demand for affordable homes.”
Amy Thomas, acting land director for Taylor Wimpey Bristol, says: “We are pleased to be partnering with Bromford to bring over 450 affordable homes to the Innsworth area.
“By working together, we look forward to bringing a range of affordable housing , from one and two bedroom flats up to four-bedroom houses to market as part of the development and providing a wide range of choice to our customers.”
Earlier this year the housing association finalised a £100m private placement with North American investors to fund its growing development ambitions and secured £66m in funding after becoming one of Homes England’s strategic partners.
The deal between Bromford and Taylor Wimpey is the latest in a string of partnerships between the two organisations, who are already working to deliver more than 340 affordable homes at other sites. The first homes at Innsworth are due to be completed in 2020-21, with the rest completed in phases up to 2029.