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Construction News
09/01/2012
Build Now, Pay Later Homes Agreement Signed
Flagship proposals to develop the final phase of new homes on the former Park Prewett Hospital site near Basingstoke have received a boost after partners reached a deal to progress the project.
Site owner the Homes and Communities Agency (HCA) has signed an agreement with David Wilson Homes which will see them work to develop a masterplan for the site and begin consulting on a planning application for a proposed 585 homes. The agreement will see them deliver the phase of 300 homes and manage the rest of the site.
Park Prewett is an early pilot for the Government’s Build Now, Pay Later initiative, which aims to get work started on thousands of new homes across the country without developers facing the expense of buying the land upfront. The project will aim to use a mix of deferred and guaranteed payments to support development.
The HCA marketed the site through a competitive selection process using its Delivery Partner Panel, which includes housebuilders, contractors, housing associations and developer consortia. Hungerford-based David Wilson Homes Southern was selected as preferred bidder.
Under the agreement, around 40% of the new homes built at Park Prewett would be classed as affordable. All properties would be built to Level 4 of the Code for Sustainable Homes, which is a higher standard of sustainability than a traditional house, and meet Lifetime Homes standards, designed to enable people to live independently for longer.
Kevin Bourner, HCA head of area, said: "Reaching this agreement with David Wilson Homes is an important milestone for the project. We will now work closely with David Wilson Homes and local community to produce a vision and masterplan that will deliver a high quality project that is fitting for this attractive part of Basingstoke."
The Park Prewett hospital site was purchased by the HCA's predecessor body English Partnerships in 2005. Since then, the Core and Southern Farmlands areas of the former hospital have now largely been developed, with around 900 homes delivered under a village masterplan developed by NHS Estates.
(CD/GK)
Site owner the Homes and Communities Agency (HCA) has signed an agreement with David Wilson Homes which will see them work to develop a masterplan for the site and begin consulting on a planning application for a proposed 585 homes. The agreement will see them deliver the phase of 300 homes and manage the rest of the site.
Park Prewett is an early pilot for the Government’s Build Now, Pay Later initiative, which aims to get work started on thousands of new homes across the country without developers facing the expense of buying the land upfront. The project will aim to use a mix of deferred and guaranteed payments to support development.
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The HCA marketed the site through a competitive selection process using its Delivery Partner Panel, which includes housebuilders, contractors, housing associations and developer consortia. Hungerford-based David Wilson Homes Southern was selected as preferred bidder.
Under the agreement, around 40% of the new homes built at Park Prewett would be classed as affordable. All properties would be built to Level 4 of the Code for Sustainable Homes, which is a higher standard of sustainability than a traditional house, and meet Lifetime Homes standards, designed to enable people to live independently for longer.
Kevin Bourner, HCA head of area, said: "Reaching this agreement with David Wilson Homes is an important milestone for the project. We will now work closely with David Wilson Homes and local community to produce a vision and masterplan that will deliver a high quality project that is fitting for this attractive part of Basingstoke."
The Park Prewett hospital site was purchased by the HCA's predecessor body English Partnerships in 2005. Since then, the Core and Southern Farmlands areas of the former hospital have now largely been developed, with around 900 homes delivered under a village masterplan developed by NHS Estates.
(CD/GK)
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