Major East Midlands development progresses with Homes England investment

Fairham, Nottingham’s new commercial and residential neighbourhood, has been backed by a major investment from Homes England, the government’s housing accelerator.

Homes England has today announced acquisition of 250 acres of land in Rushcliffe, Nottinghamshire, making it a strategic investor in the project along with the majority landowner, Derby-based CWC Group.

The deal unlocks this strategic site for the delivery of much needed housing in one of the Government’s high affordability areas.

The acquisition enables Homes England to now work with CWC Group and Rushcliffe Borough Council on a project that will deliver 3,000 homes and 100,000 square metres of employment space across 605 acres over the next ten years. The total value of the project is over £800 million.

The company behind Fairham, Derby-based national property company, the CWC Group, says the investment will help to accelerate infrastructure and preparatory works across the site. This work will, in turn, enable the project to progress more rapidly.

It is envisaged houses and commercial properties will start to be delivered on site by 2020 and eventually over 3,000 homes and more than 1 million sq ft of commercial and employment space will be created. There will also be a district centre and extensive community facilities including playing fields, a health centre and primary school and potential future extension of the NET tram.

The most significant mixed use development in the East Midlands, Fairham is a whole new neighbourhood that will bring much-needed employment opportunities and new housing to the area.

It will also create a thriving and diverse community with new health, education, leisure, retail and community facilities for residents in a well-planned, safe and friendly environment.

Fairham sits alongside the new £150 million A453 Remembrance Way that links directly to the M1. The site is also next to the current NET tram terminus at Clifton. It is within a 15 minute drive of East

Midlands Airport, East Midlands Parkway station and the planned new HS2 station at Toton, and a 20 minute drive or tram ride from Nottingham city centre.

The scheme also includes new sports pitches, parkland, children’s play areas, community woodland and four gypsy and traveller pitches. A safeguarded route for the NET tram will enable a future extension to be built through the site.

Robert Hepwood, Land and Planning Director at the CWC Group, said: “Our priorities are first and foremost around delivering an exemplar development that will enhance the region and locality, as well as being of the very highest quality and sustainability. With this new investment from Homes England we can move forward with infrastructure and preparatory work across the site, readying Fairham for its first homes and commercial buildings in 2020.”

This flagship regional and national development will bring much-needed employment and housing opportunities to the East Midlands.

Executive Director for Land at Homes England, Stephen Kinsella, said: “Homes England is committed to working creatively with local authorities that have clear growth ambitions and we have worked closely with Rushcliffe Borough Council to ensure this site is unlocked to deliver new homes in an area of high affordability.

“Our acquisition of this land is an example of how Homes England can intervene and provide more certainty for the delivery of infrastructure and accelerate overall development. Homes England and the CWC Group will now work jointly as Master Developers to deliver the primary infrastructure to create a high quality and sustainable urban extension.”

Fairham is a key part of Rushcliffe’s Local Plan and will help meet the borough’s commitment to deliver 13,150 new homes over the next ten years. When planning permission for the development was granted in 2018, the district council welcomed both the scale and sustainability of the development.

Rushcliffe Borough Council’s executive manager for communities, Dave Mitchell, said: “Rushcliffe has been working hard to deliver its local plan which commits to building 13,150 new homes by 2028. Delivery of the Fairham site is essential to our ability to maintain the momentum required, whilst is it is also a strategically important site locally, regionally and nationally for Nottinghamshire County Council, Nottingham City Council and ourselves. 

“We now look forward and remain committed to working closely with Homes England and the CWC Group to ensure the delivery of a high quality scheme that continues to enhance the attractiveness of Rushcliffe as a great place to live and work.”

Founded by Charles Clowes in 1964, the CWC Group has flourished over the decades to become one of the largest privately owned property companies in the UK. As an experienced developer, landowner and landlord, CWC has real depth of experience across the full spectrum of real estate activity. CWC has a world-class portfolio of developments in the commercial, residential, leisure, industrial and mixed use sectors across the UK, from Scotland to London.

 

 

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For more information, please contact:

Perry Buck/Stephen Osborne-Brown on 0121 232 5000 or email

perrybuck@core-marketing.co.uk/stephenosborne-brown@core-marketing.co.uk