Housing developer buys stake in scheme that could see thousands of new homes near St Neots
PUBLISHED: 07:32 18 April 2017 | UPDATED: 07:38 18 April 2017
Property development firm Urban&Civic has purchased a stake in a scheme that could see thousands of new homes build near St Neots.
The firm is already leading the development of a new community at Alconbury Weald and has acquired a one-third share – costing £13.3million - in the development of up to 2,800 homes in Winteringham Park, acting as “master developer”.
The 400-acre site is bordered by the East Coast Main Line and the A428 and will also include space for businesses, a district centre, and two new primary schools.
The land is owned by the Nuffield Trusts, charities which are dedicated to supporting medical research and teaching at the Oxford University Hospitals NHS Trust and Oxford Health NHS Foundation Trust and within the medical sciences division of the University.
The land has been in the ownership of the Nuffield Trusts since the 1940s and forms a part of their bequest from the late Lord Nuffield.
According to a spokesman for Urban&Civic, the deal will see the developer take charge of the delivery of the site as a whole; building infrastructure to support housing; managing the roll-out of land parcels with housebuilders; and taking an interest green space management, delivery and maintenance of key infrastructure, and community development.
Nigel Hugill, chief executive of Urban&Civic, said: “The real thrill for us is in the prospect of taking our master developer model and deploying the Nuffield experience of creating healthier lifestyles to show just what well planned new large scale projects can achieve.
“We are aiming for accelerated housing delivery in which improved well being is made a priority from the outset.”
Sir Andrew Dilnot, warden of Nuffield College, Oxford, added: “The trusts are committed to furthering medical research and teaching. We have owned the site for 75 years and high quality development in the context of all that the Nuffield name stands for remains our absolute priority. We are determined that our partnership with Urban&Civic will provide an appropriate financial and environmental legacy.”