William Eichler 01 June 2018

Homes England loans £22.4m to build Cambridge homes

Homes England loans £22.4m to build Cambridge homes  image

The Government today announced a new multi-million pound deal that will deliver 1,300 homes for Cambridge.

The joint venture Hill Marshall LLP will get £22.4m from Homes England as a 10-year loan to help accelerate the delivery of the housing.

The development will be on 160 acres of brownfield land in the village of Wing.

The funds are drawn from the Home Building Fund (HBF) which helps unlock the delivery of residential and mixed-use housing developments through loans for the infrastructure needed to prepare land for development.

A spokesperson from Hill Marshall LLP said: ‘Marshall Group and Hill are two like-minded family firms committed to making Cambridge one of the best cities to live in the UK.

‘We are delighted to have secured new funding from Homes England’s Home Building Fund for this development in the City — it will ensure we are able to deliver an outstanding new community for local residents in half the amount of time it would normally take.

‘Cambridge has long been established as one of the best places to live in the UK and this new community seeks to add further to the City’s success.’

Nick Walkley, Homes England chief executive, added: ‘At Homes England we’re using our land, finance and expertise to speed up the delivery of new homes.

‘This loan through our Home Building Fund is a significant step towards seeing this 1,300 home new community at this key development site in Cambridge become a reality and I look forward to seeing work start on site.’

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