Homes in the Pipeline
We have recently agreed an extended funding facility with our bank. We anticipate that this should enable us to deliver between 20-25 new homes each year until 2020.
We have recently completed a scheme on an ex-school site in Bembridge, Sycamore Drive. This has delivered 13 new homes, 9 of which are for rent and 4 for discounted sale to local households.
We have purchased the land for 4, 2-bed bungalows also in Bembridge, for which we are currently on-site and expect to be completed within the next twelve months.
We have recently purchased the land for 4, 2-bed houses in Bouldner Mead, Yarmouth which we expect to be complete during the second half of 2018.
We are also in advanced discussions over new homes on sites in Gunville, Newport and Rookley that might yield a further 19 homes over the coming year.
In addition, we also have a number of other prospective development opportunities that we are currently considering.
We also consider bringing new and existing homes on long leases from private owners. This is an additional route for creating sub-market rented homes that offer good quality standards and an excellent package of repairs and management. Please see the HAL page for further details.