Lovell Partnerships and Latimer will contribute to delivering and marketing new properties, with the first joint development being a 99-home scheme in the village of Weston, Cheshire that will provide 30 affordable homes.
The development comprises a mixture of three, four and five-bedroom homes and six two-bedroom bungalows. As part of the planning agreement, Lovell and Latimer will be contributing up to £206,000 towards the area and creating 1.36ha of public open space. Of the affordable homes, 20 will be for affordable rent and 10 will be for shared ownership. These homes will be managed by Clarion Housing.
Lee Sale, Regional Managing Director of Lovell Partnerships for the North West, said: “We are extremely pleased to announce Clarion Housing Group as the region’s next joint venture partner.
“The brand-new development in Weston is a fantastic site to kick-off this partnership with Latimer. Lovell has worked closely with Cheshire East Council, Gladman’s, and Weston residents to ensure the scheme will benefit the whole area. With good proximity to junction 16 of the M6 and a variety of highly rated primary and secondary schools, we hope the development will be popular with commuters, investors, and growing families.
“With the initial construction work progressing at a good pace, we are expecting to release the first homes in early 2020, followed by the launch of the show homes in August.”
Richard Cook, Group Director of Development for Clarion Housing Group, said: “We are delighted to be entering into a long-term partnership with a well-respected developer that shares Latimer’s passion for placemaking and delivering quality, well-designed homes for our residents.
“Working together with Lovell in a joint venture enables us to play a prominent role in shaping our new communities, while delivering much-needed affordable housing.”
Lovell Partnerships has outlined its plans to create two further strategic joint venture partnerships in the North West in 2020 as part of its dedication to high standards of customer service and a superior build quality. Limited liability partners, such as Latimer, will benefit from the shared investment and reduced risk, whilst gaining value from Lovell Partnerships’ strong engagement with regional communities through its social value strategy. There is also an ambition to extend the relationship with Latimer into a national partnership.