£20m Homes England loan supports new Leeds property scheme

Templegate Developments Limited has secured a £20m loan from Homes England to support its delivery of a new mixed-use community at Skelton Gate, Leeds Aire Valley.

Planning permission is in place for 1,100 new homes; a primary and secondary school, public open space; a local centre and a convenience store; and associated infrastructure on the 170-acre former open cast colliery site.

In July this year, Templegate Developments submitted an additional application for a further 700 homes, taking the total housing numbers to up to a potential 1,800.

Peter Garrett, managing director of Keyland Developments, said: “Templegate Developments is committing major investment into the Skelton Gate regeneration scheme and we are delighted with the support the development has received from all key stakeholders and the community.

“The plans to create an entirely new sustainable community, whilst aspirational, have always been entirely deliverable and we are incredibly excited to be at the stage where preparatory works can commence.”

The Homes England loan will support the initial infrastructure and reclamation works which alone carry a cost of some £53m.

These works will facilitate the development of the entire scheme which is set to make a ‘significant impact’ on the region’s housing and economic targets.

James Pitt, development director at Evans Property Group, added: “The securing of this significant loan from Homes England has unlocked and accelerated the development of Skelton Gate and will enable us to commence the first phase of our groundworks and infrastructure programme with immediate effect.

“The vision for Skelton Gate has been developed over almost a decade with close collaboration between Homes England, Leeds City Council, as well as NHBC and we are now looking forward to commencing on site.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →