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12/04/2018

£74m deal for Ebbsfleet completed

Words: Laura Edgar
New House 3

Homes England has completed a £74 million deal it says will unlock the next phase of development at Ebbsfleet Garden City in Kent.

The Homes England money has been loaned to Henley Camland, the landowner, and will go towards preparing the land for housing development on both the Castle Hill site and the Eastern Quarry.

The money, which comes from the government’s £3 billion Home Building Fund, will enable a variety of infrastructure works, including earthworks to fill in a lake to prepare 657 hectares of land for more than 5,290 homes.

This accounts for about a third of the total homes planned for Ebbsfleet Garden City. More than 1,000 of the homes are expected to be completed by 2021, with the full scheme due to be completed over the next decade.

Alongside the housing, the money unlocks around 180,000 square feet of commercial development.

Henley Camland, a residential infrastructure and placemaking firm, recently bought the Eastern Quarry site from Landsec.

It has simultaneously agreed land deals for 2,900 homes to be developed. Of these, 2,600 will be delivered by Countryside Properties and Clarion Housing Group in a new joint venture. Barratt Homes will build 300 homes on this part of the wider site as a direct result of the works funded by Homes England.

The loan will also facilitate the delivery of a secondary school and a fast-track route to be created through the site to connect Bluewater Shopping centre to Ebbsfleet International Station.

Ian Piper, chief executive of Ebbsfleet Development Corporation, which is overseeing Ebbsfleet Garden City, said: “This [money] from Homes England, when combined with the investments already made by Ebbsfleet Development Corporation in key utilities infrastructure, is key to delivering the new homes that are required to create our vision for the garden city. It is a good example of public bodies working together to deliver great places.”

Ian Rickwood, CEO of Henley, which has secured the delivery of 2,900 homes through a series of simultaneous deals, commented: “Following Homes England’s investment and our quick succession of deals with various housebuilders, £1 billion 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.”

Image credit | iStock

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