4th Sep 2014 06:44
LONDON (Alliance News) - Urban&Civic PLC Thursday said it has been selected by the UK Ministry of Defence to act as development manager for a new 6,500 sustainable new homes site on the outskirts of Cambridge.
The site is on the former Royal Air Force barracks at Waterbeach.
The development management agreement means that Urban&Civic will progress the scheme through the planning system before funding and constructing necessary development infrastructure, and managing the disposal of land to housebuilders.
Urban&Civic also will construct 35% of the new homes at the development, and will benefit from any value uplift on land sales after costs. The current expectation is for an outline planning application to be submitted within 24 months.
The company intends to focus on providing some homes for the private rented sector
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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