£7.5m deal to bring forward 100 homes at huge mixed-use scheme
Nurton Developments (Quintus) has signed a £7.5m deal with Cameron Homes to complete a fourth phase on its 400-acre Branston Locks mixed-use scheme in Burton-on-Trent.
Cameron Homes says it has already sold over 80% of the first and second phase with the remaining homes to be delivered this year. It plans to provide a further 99 homes, ranging from 2 to 4 bedrooms.
Branston Locks is one of the first large-scale urban extensions to be delivered in the UK and when complete, the scheme will offer 2,500 homes alongside 1m sq ft of commercial space, creating up to 3,000 jobs.
An initial £8m investment in infrastructure spending, supported by a Strategic Infrastructure Award, has already unlocked the development of a new free primary school which hopes to be open towards the end of 2021.
Nurton Developments (Quintus) is a JV between Birmingham based Nurton Developments and a private investor.
Ian Willicombe, development partner at Nurton Developments said: “Branston Locks is an ambitious 10 – 15 year project which has been widely welcomed by the local community and stakeholders, which will provide an exemplar of how urban extensions should be delivered in the UK.
“Strategic land, forms a core strand of Nurton’s business and Branston Locks is a flagship scheme for the company and one which we hope will leave a lasting legacy, with significant investment in placemaking and green infrastructure to create a community people are happy to live, work and play in.”
Willicombe continued: “The residential element has made good progress with Cameron Homes and Taylor Wimpey already signed up and advance negotiations underway with a further two housebuilders to complete a third of the overall homes. We are in discussions with a number of occupiers for significant pre-lets on the commercial space.”
Ian Burns, CEO for Cameron Homes, which has already committed to 70 homes over its first three phases added: “Branston Locks is a flagship development for Cameron Homes. The investment in placemaking and the subsequent quality of design and sense of identity fits well with our brand and ethos.
“Throughout our developments, we create sought after places to live combining the quality and design of our homes with the quality of the local environment. The combination of the two at Branston Locks, makes this is unrivalled place to live and work in the region.”