4th Jul 2016 06:45
LONDON (Alliance News) - Property investor Urban&Civic PLC on Monday said it has entered into contracts with Redrow PLC for the FTSE 250-listed housebuilder to build out 200 plots under licence on a third parcel of land in Alconbury Weald in Cambridgeshire.
The land parcel comprises of 16.6 acres of land and is the third parcel at the site on course to be developed, after Urban&Civic previously entered into contracts with property developers Hopkins Homes Ltd and Morris Homes for two parcels in Alconbury Weald.
Hopkins Homes are on site now, and Morris Homes are scheduled to start building in September 2016, with Redrow also expected to commence construction in early Autumn, Urban&Civic said.
In total, Urban&Civic has contracted on almost 500 plots across 41 acres at Alconbury Weald, the company said, noting that demand appears to be strong at the site, with 29 private housing reservations having been taken by Hopkins since coming on site in mid-April.
"Redrow are reputed for the quality of their housing offer. The fact that they are prepared to complete arrangements at the current time is both a reflection of our shared aspirations for Alconbury and the strength of the Urban&Civic licence model," said Chief Executive Nigel Hugill.
By Hannah Boland; [email protected]; @Hannaheboland
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