Willmott Dixon JV to build 250 new homes in Preston, UK

Willmott

July 10, 2019 – Trafford Housing Trust and L&Q have partnered with Willmott Dixon for the development of Homes England’s £47m D’Urton Lane site in Preston, UK.

The project will comprise 250 new homes for shared ownership, affordable rent and private sale and it will be located in D’Urton Lane in the Fulwood area.

The homes will be a mix of two-, three- and four-bedroom homes, of which half will be affordable housing, either for shared ownership or affordable rent. The remaining homes will be for outright sale. The project will also include green space.

To execute the project, Trafford Housing Trust, L&Q and Willmott Dixon have formed a joint venture company, Laurus Partnership Homes. Subject to planning approval, the joint venture will buy the land for development and begin construction in 2019.

Willmott Dixon said that it will accelerate the delivery of the project and expects to add to the government’s target of developing 300,000 homes per annum.

Trafford Housing Trust CEO Larry Gold said: “D’Urton Lane meets our core objective of tackling the current housing crisis, which is leaving hard working families struggling to make ends meet, and reflects our commitment to developing affordable homes.

“We are proud of our innovative development model which sees us reinvest all profits into providing more new homes and supporting wider social purpose initiatives – a model which we believe should be rolled out across the sector.”

According to Willmott Dixon, the D’Urton Lane is centrally located with good transport links and easy access to M6 and M55 motorways. Furthermore, the project is expected to boost Preston City Council’s North West Preston Masterplan and will help in creating a new vibrant community, targeting downsizers and first-time buyers, including through Help to Buy.

Willmott Dixon North managing director Anthony Dillon said: “Trafford Housing Trust and Willmott Dixon recently delivered the Limelight development on Shrewsbury Street in Old Trafford and will be bringing this collaboration to Preston as partners in this LLP.

“For our community focused businesses, we’ll deliver more than high quality new homes as the D’Urton Lane project is a great opportunity to achieve a wide range of community benefits. These include apprenticeships and work experience for local people of all ages as well as working closely with local schools and colleges to leave a lasting legacy.

“As part of Laurus Partnership Homes we will work tirelessly in establishing a partnership with Homes England and its stakeholders to deliver a high-quality development which delivers aspirational new homes and achieves an accelerated pace of delivery.”

Source:- http://www.worldconstructionnetwork.com/news/willmott-dixon-jv-to-build-250-new-homes-in-preston-uk/

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