A national housebuilder has become the latest to join the list of developers building a new £1 billion community on the edge of Leicester.
Redrow Homes East Midlands wants to build 163 new homes at New Lubbesthorpe, a 4,250 home scheme going up on green fields near junction 21 of the M1.
Pending planning permission, Redrow will joins Barratt Homes, David Wilson and Davidsons Homes, who are already contributing to the development.
The first residents have moved into the first 300 properties on the 1,000 acre development and a £7 million, 420 place primary school opens in September.
A secondary school will open when there are around 2,000 new homes up, in around seven years time.
It has been estimated the total cost of the homes and schools, along with warehousing, industrial and office units, a new £15 million bridge which has gone up over the M1, and roads, sewage, electricity, mains water and gas systems, could be more than £1 billion.
Redrow has bought 9.5 acre of land from landowners the Drummond Trustees, who are represented by Loughborough development consultancy Mather Jamie.
It is asking Blaby District Council for permission to put up 163 one-to-four-bedroom homes including apartments, townhouses and detached properties, 32 of which will be allocated for affordable housing.
The sale has enabled the repayment of a loan from Homes England taken out in order to help start the development infrastructure, the cost of which currently totals almost £40 million.
Work on the Redrow homes could start in October, with the first available in the spring.
Andrew Noton, divisional land director at Redrow Homes, said: “We are thrilled to announce we are building homes in New Lubbesthorpe, which is set to be a thriving new community in Leicestershire.
“This development will offer the best of both worlds, complete with vibrant urban amenities, in a rich rural setting and brilliantly well-connected to the surrounding areas.
“This is our fourth development in Leicestershire and it’s wonderful to be building homes in what is set to be a fantastic new community for the people of the county.”
Leicester Business News
Blaby District Council spokesman Ian Cockerill said: “Redrow Homes’ land purchase is a fantastic example of collaboration between the public and private sectors in the East Midlands.
“The new homes will help to expand what is already a thriving urban development, delivering a significant number of much-needed new homes in Leicester.”
Mather Jamie director Martin Ward has been looking after the interests of landowners the Leicestershire Drummond family for several years.
He said: “On behalf of our clients, the Drummond Estate, we are delighted to confirm the completion of this residential development land sale to Redrow Homes.
“Once complete, the range of new homes will offer affordable and conveniently located housing that is ideal for first-time buyers, families and those looking to downsize.
"We look forward to seeing this phase of New Lubbesthorpe’s development come to fruition.”
New Lubbesthorpe won infrastructure project of the year at the 2018 Leicestershire Procon Awards, as well as the housing initiative award at the LGC Awards in March 2019.
The development was also shortlisted for large residential development of the year at this month’s Midlands Residential Property Awards.
