The deal, brokered by Blackstar Advisory, will unlock a 43-acre housing site that sits in close proximity to Boots’ UK headquarters and is part of the wider 286-acre Nottingham Enterprise Zone, which was granted its status by the UK Government in 2011.
The UK's leading health and beauty retailer, part of the Walgreens Boots Alliance Group, selected ilke Homes to develop the site, which has been allocated for residential development since 2014, due to the exemplary design proposals, speed of delivery, and the sustainability credentials which are synonymous with factory-built volumetric homes.
Boots UK's decision to select ilke Homes to deliver this regeneration scheme represents the first time it has released any part of its Nottingham site holdings for housing.
This announcement follows recent news that ilke Homes has reached a milestone valuation of £200 million and has a pipeline of over 3,000 homes; this is despite being founded just three years ago.
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ilke Homes will work with its architects HTA Design to curate a ‘model village’ development that focuses on creating a connection between people and place – building on a high-quality landscape design to support a rich mix of homes in a truly unique setting.
Subject to planning consent, the proposed scheme will become ilke Homes' flagship site, and will be designed to maintain the existing campus feel and integrate sympathetically into the surrounding area, which includes iconic twentieth century buildings, the Beeston canal, and the River Trent meadows beyond.
The proposed scheme will seek to deliver 505 houses together with 117 apartments. All the houses will be manufactured along production lines at ilke Homes’ 250,000 sq. ft factory in Knaresborough, North Yorkshire.
By using precision-engineering techniques and digital design, all 505 homes will have an Energy Performance Certificate (EPC) rating of at least a 'B', making them more energy-efficient than 92 percent of all new-builds in the UK. Higher levels of energy performance are also expected to translate into huge long-term cost savings on energy bills for residents, with the homes being able to run on as little as £1-a-day.
Acting as a full 'turnkey' developer, ilke Homes will manage the entire development process – from securing the land deal, and obtaining gaining planning permission, through to developing the site and delivering the homes. As part of the company's development led offering, launched in 2019, ilke Homes is already well on its way to deliver over 2,000 homes for a mix of clients including the UK's largest housing associations and institutional investors, as well as local councils.
ilke Homes has been selected to regenerate a significant part of the Enterprise Zone due to the firm’s commitment and ability to ensure the scheme can be delivered in a sustainable and efficient manner, which aligns closely with Boots’ long-standing vision of "caring for people and communities around the world".
A Reserved Matters planning application is due to be submitted imminently.
