Housebuilder signs £49m deal to develop 195 new homes

A housebuilder with a focus on the south and south-east of England has entered into a multi-million pound agreement to deliver 195 new homes.

Via its joint venture Cheshunt Lakeside Developments Limited, brownfield developer Inland Homes will sell Phase 1a at its Cheshunt Lakeside project in Hertfordshire to local housing association, B3Living for £15m.

In addition, Inland Partnerships has entered into a contract with B3Living to construct 195 apartments in a deal worth £34.5m, with constructions set to commence in October.

Stephen Wicks, Inland Homes’ group chief executive, commented: “These recent transactions, at attractive prices and in a difficult economic environment, are a testament to the high quality of Inland’s assets.

“The new partnership housing contract with B3Living takes our forward order book in this division to over £100m.

“We have a number of further significant sales in the pipeline and we will update the market in due course.”

B3living’s chief executive, Steve Woodcock, added: “This project represents a real milestone for B3Living. This will be our largest project to date and a significant growth for our size.

“This development will also transform the local area and local lives. In our borough, we see many people who can’t afford to buy outright or pay private sector rents, so homes like these are desperately needed.”