Member Article

Keepmoat invests Sixty million in Land Acquisitions

Keepmoat Homes is investing around £60 million in a major land acquisition and building programme, after witnessing good growth over the past year.

The firm specialises in starter and mid market family homes, and hopes to have completed 400 units in the region by April, representing a 13%growth on the previous year.

This news is especially positive for Keepmoat Homes, as stringent lending conditions, a 10% fall in the granting of planning permission and a 58% drop in socail housing approvals has curbed the UK market.

Richard Bass, Regional Managing Director, commented: “This will enable us while safeguarding over a hundred construction jobs.

“We are also intending to create new apprenticeship opportunities to help young people secure their first job.”

Keepmoat were recently awarded three social housing development projects by Newcastle Council and Leazes Homes worth £11 million.

The projects in Fenham, Lemington and South Gosforth will create 86 new homes, and will generat cross subsidy to allow Keepmoat Homes’ sister company Frank Haslam Milan to construct special needs housing for Leazes Homes at a further seven sites.

Keepmoat Homes North East Land and Partnership’s Director, Ian Prescott, said: “The approach of mixing Homes and Communities Agency grant with cross subsidy from private homes for sale is an imaginative way of meeting the challenge of providing family homes for rent and delivering much needed special needs accommodation.

“This partnership approach to the delivery of new affordable homes is set to become the norm in the years to come.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .