Homes in the Pipeline
We reviewed and updated our 5-year Business Plan in October 2020. This included commitment to an ambitious new homes programme that should see us increase our stockholding by approximately 30% over the next 3-5 years, with 150-60 new homes.
We have agreed funding facilities that should enable us to deliver this programme, together with our designation as Investment Partners with Homes England.
In the recent past, we have completed schemes at:
- 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.
- 4 x 2-bedroom bungalows in Keats Drive, Bembridge. Two are for rent and two shared ownership.
- 13, 2 and 3-bed houses and 6 1/2 bed flats in Bouldner Mead, Yarmouth. Nine of these are affordable rent and 3 shared ownership.
- 14 units in Ash Lane, Gunville, of which 4 are for shared ownership.
We are also on-site on two sites:
- 4 additional units at Ash Lane, two of which are for rent and two Rent-to-Buy - due in May 2021
- 10 homes at Alvington Manor View, Gunville - 8 for rent, 2 shared ownership - due in March 2021
We have about to start on site with an exciting 42 home scheme at Branstone Farm, Arreton, due for completion over two phases in March 2022 and March 2023.
We have a number of other sites that should be progressed over the coming few months.
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.