Tewkesbury-based housing association Bromford has agreed a multi-million pound deal to buy two parcels of land in Cheltenham on which it plans to build 180 homes. The 16-acre site, on Old Gloucester Road, is currently owned by Cheltenham Borough Council and Gloucestershire County Council.
The plots of land are next to an existing development - which will provide access to the new sites - where Bromford is building 85 affordable new homes. Bromford started work on the site last year and the neighbourhood of homes is due to be completed in 2025.
Of the 180 extra homes proposed on the new land, 50% will be market-led housing and 50% will be affordable. Housing options will include shared ownership and social rent homes, Bromford said. The Housing association says it is already working on the plans for the land and, subject to receiving planning permission, hopes to start work later in the year.
Bromford’s head of land, Lyndon Parkes, said: “We’re thrilled to have agreed these deals and to be working with Gloucestershire County Council and Cheltenham Borough Council to provide these new homes.
“Having already acquired and started work on the first parcel of land at Old Gloucester Road, buying these two adjoining pieces of land is an ideal opportunity for us to create a joined-up vision for the whole site and to create an attractive and flourishing new neighbourhood."
Councillor Victoria Atherstone, cabinet member for housing at Cheltenham Borough Council, said: “This is an exciting start to the new year and is another step towards increasing the number of affordable, energy efficient homes our town really needs. Bromford have demonstrated that they can deliver affordable housing which will help create more sustainable communities and reduce homelessness.
”Councillor Peter Jeffries, cabinet member for finance and assets at Cheltenham Borough Council, said: “Once again this demonstrates how the council makes the best use of its assets to deliver the right outcomes for Cheltenham’s residents and businesses; and with this initiative this means securing both modern, sustainable housing and maximising financial returns for reinvestment back int Cheltenham.”
Bromford said it would be using Homes England grant funding to finance the development.
Councillor Lynden Stowe, cabinet member for finance and change at Gloucestershire County Council, added: “These much-needed new homes will deliver a range of affordable housing for Cheltenham on land ideally located for this purpose.”
Bromford is one of the country’s biggest housing associations and already owns more than 12,000 homes across Gloucestershire, including 900 homes in Cheltenham.
