Places for People and Barratt Redrow have unveiled a new joint venture to build an 8,500-home community in interconnecting villages around Gilston, East Hertfordshire.
The scheme will be set within 660 hectares of public open space, restored historic parkland, meadows and woodland. Of the 8,500 homes to be built across six walkable villages, at least 1,950 will be affordable.
The recently approved strategic landscape masterplan includes 15km of heritage trails, move than 410 hectares of integrated green spaces, as well as an orchard and allotments.
The joint venture is forecasted to generate more than £6 billion in economic impact and create thousands of local jobs. 29,000 square metres of commercial space will also be delivered within the scheme.
News of the joint venture comes shortly after the government launched the National Housing Bank and committed to seven new towns across the UK as part of its ambition to build 1.5 million homes by 2029.
Greg Reed, chief executive of Place for People, said: ““The UK cannot meet its housing targets without partnerships that deliver differently. Our vision for this development is a new blueprint for modern garden towns, shaped by deep community insight and a commitment to doing things the right way from day one.
“By combining Places for People’s long-term stewardship and social value approach with
Barratt Redrow’s exceptional capability to deliver homes at scale and like-minded approach to social value, we can accelerate one of the most significant new communities in the UK.
“They say the best time to plant a tree is 20 years ago, and with Gilston we did just that. It’s taken two decades to get to this point, and now we are ready to roll.”
Plans for the scheme also include six new primary schools, two new secondary schools, £600 million in transport and social infrastructure investment, health centres, leisure and sports facilities, community hubs and 88 hectares of enhanced green habitat.
David Thomas, chief executive at Barratt Redrow, said: “Working with Places for People offers the opportunity to show what large-scale, responsible, community-led development looks like.
“Our new joint venture will deliver up to 8,500 new homes, featuring our three brands, Barratt Homes, David Wilson Homes and Redrow, plus Places for People, so giving customers the best possible choice for their new home. This is a once-in-a-generation project where we can create a modern garden town, connecting people to nature, and growing with the community.”
Peter Blake, who leads the national development consultancy team within Savills operational capital markets division, and Andy Redman, director in the Chelmsford office’s development team, advised Place for People throughout the deal. JLL acted for Barratt Redrow.
Peter said: “The agreement brings together PfP’s master developer expertise with Barratt Redrow’s reputation as the UK’s leading homebuilder and represents a step change in how new communities are delivered – highlighting the strength of collaboration and ambitious thinking.”
The joint venture was also supported by Dentons and Shakespear Martineau.
Images: Places for People
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