Member Article

£105m investment via new homes development

A trio of new developments is set to deliver more than 750 homes and represents an investment in the region of more than £105 million.

Persimmon Homes Central will build 758 homes – including 159 affordable properties - at new developments opening in Birmingham, Coventry and Rugby during the first half of 2022.

Nick Wilkins, technical director at Persimmon Central, said: “The collective achievement of our land and planning team in getting these deals over the line is fantastic, and demonstrates our commitment to continued investment across our region.”

The first of the trio is the third and final phase at Persimmon’s popular Coton Park development in Rugby, representing an investment of £32m.

Of the 224 new homes, 67 (30%) will be affordable and the mix will include one-bed maisonettes, two and three-bed semis and terraced and four-bed detached properties.

As part of the planning approval from Rugby Borough Council Persimmon is set to contribute almost £4.8m to the local community, including: £3.1m into education; £993k into highways and £338.8k into public transport; and £403.8k into the NHS. The first properties are expected to be available from the end of February.

Whitmore Place on Holbrook Lane in Coventry is a development of 347 homes on the site of a former factory operated by Meggitt plc and represents an investment of more than £48m by Persimmon.

The mix of properties will include two-bed apartments, two and three-bed semi-detached and terraced houses, and four-bed detached homes. Of those, 73 will be affordable (21%) and four of them will be designated First Homes providing local first time buyers who meet the criteria with at least a 30% discount on the market price.

The first properties at Whitmore Place are expected to be available for sale off plan in March.

Persimmon will contribute more the £2m to education in the area through section 106 contributions, as well as £25k to highways, NHS CCG £197k, NHS Trust £367k and £50k for a sports club.

In Birmingham, work is underway at the former Nock brick works in Erdington to build a development of 187 new homes made up of two-bed apartments, two and three-bed semi-detached and terraced houses, and three and four-bed detached properties.

Holly Fields represents a total investment of more than £25m and will include 19 affordable properties. The first homes are expected to be released for sale at the end of March.

This was posted in Bdaily's Members' News section by Sam Taylor .