Member Article

£976k funding package sees Keepmoat land a North East first

National housebuilder Keepmoat has won the first Builders Finance Fund (BFF) contract signed for a project in the North East.

Securing £976k, the funds will be used to support Keepmoat’s delivery of a £13m Moorland View home scheme in Bishop Auckland.

Ian Prescott, Land and Partnership’s Director for Keepmoat in the North East, said: “We are delighted to be the first developer in the North East to secure loan monies from the HCAs Builder’s Finance Fund.

“The monies received will allow us to further expand our delivery of new homes for first time buyers in the region.”

The BFF was launched by the Homes and Communities Agency (HCA) to accelerate housing provision following the economic slowdown. This latest allocation to Keepmoat’s Bishop Auckland scheme is part of a package of government measures to deliver 1 million new homes by 2020.

Keepmoat is delivering 99 two, three and four bedroom homes on land acquired from the Church Commission at the former Bracks Farm site. The development will consist of 84 houses for private sale, six houses for discounted sale and nine houses for affordable rent.

Ian added: “We have been actively expanding in the southern part of the North East region, due to high demand for new homes.

“This is fuelled in part by a rise in employment opportunities thanks to the opening of the £82m Hitachi train factory, as well as the new £100m leisure proposals at Auckland Castle – which will both deliver a significant economic boost to the area.”

The first houses for sale at Moorland View have now been released and the development is expected to complete by March 2018.

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