14th May 2019 16:12
LONDON (Alliance News) - Property developer and investor Urban&Civic PLC on Tuesday said a planning committee has agreed to grant permission for 6,500 new homes to be built at the former Waterbeach Barracks site in Cambridge.
A specially constituted Planning Committee of South Cambridgeshire District Council has resolved to grand permission for the new homes, as well as associated transport, employment, education, and community uses over the former barracks site.
Formal planning consent has not yet been obtained, as it requires completion of a Section 106 agreement. This agreement is, Urban&Civic said, "well progressed".
The application for the new project was submitted jointly by Urban& Civic and the Secretary of State for Defence back in February 2017. The Waterbeach site is entirely brownfeild and located three miles from Cambridge's science and business parks.
The land will remain under the majority ownership of the Ministry of Defence and administered by Defence Infrastructure Organisation, however it is "subject to a participation in favour of Urban&Civic".
Preparatory works will start straight away and the initial major infrastructure is expected to be in place by no later than the end of 2019.
"The current programme anticipates first occupation of new homes on the site during 2022," said Urban&Civic.
Shares in Urban&Civic were up 3.3% a 310.00 pence on Tuesday afternoon.
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