Homes England, the Government body responsible for promoting the development of housing, has announced the completion of a £74m deal to deliver thousands of homes.
The deal, representing one of the body’s largest over the last year, will open the way for the construction of 5,290 houses as part of the Ebbsfleet Garden City development in Kent.
The £73.97m loan will go to the developers Henley Camland and will be used for a range of infrastructure works that include earthworks to fill in a lake.
The payment is being made through the Home Building Fund (HBF).
More than 1,000 of these new homes at Ebbsfleet will be provided by 2021, with the full scheme due to be completed over the next decade.
‘At Homes England we’re using our land, finance and expertise to speed up the delivery of new homes,’ said Nick Walkley, chief executive of Homes England.
‘The vital infrastructure works that we’re funding in Ebbsfleet will bring forward the development of many new homes by around four years overall and, importantly, will mean many more homes can be built in the earlier phases of the development as a result of our support with the significant infrastructure costs.’
Henley Camland has simultaneously agreed land deals for 2,900 homes to be developed, 2,600 of which will be delivered by Countryside Properties and Clarion Housing Group.
The remaining 300 will be built by Barratt Homes as a direct result of the works funded by Homes England.
Nick Walkley, chief executive of Homes England, commented: ‘At Homes England we’re using our land, finance and expertise to speed up the delivery of new homes.
‘The vital infrastructure works that we’re funding in Ebbsfleet will bring forward the development of many new homes by around four years overall and, importantly, will mean many more homes can be built in the earlier phases of the development as a result of our support with the significant infrastructure costs.’
Ian Rickwood, CEO of Henley, said: ‘Following Homes England’s investment and our quick succession of deals with various housebuilers, £1bn worth of quality homes will be delivered at a time when the UK is in dire need of them.
‘We’ve worked hard alongside our partners to unlock these homes, as well as the new senior school and remain committed to bringing forward more homes and infrastructure at Ebbsfleet Garden City.’
