A deal worth nearly £10m has been reached between Wavensmere Homes and Heylo to provide shared ownership homes at the £106m Belgrave Village development in central Birmingham.
Forty four of the 438 eco-efficient houses and apartments under construction on the 12-acre regeneration site will be made available to first time buyers and other eligible buyers on a shared ownership basis.
The Belgrave Village site was previously Joseph Chamberlain Sixth Form College and Birmingham Sports Centre, but had lain derelict for 20 years.
James Dickens, managing director at Edgbaston-headquartered Wavensmere Homes, said: “We are thrilled to announce Heylo as the affordable housing provider, which will add a new dimension to what is already a highly popular landmark development.
“Belgrave Village is set apart from other schemes in central Birmingham because of its attainable pricing strategy, which is already enabling first time buyers to secure their first home. By working with Heylo, 10% of the homes here will now be prioritised to those who would otherwise not be able to access the property ladder.”
The 44 shared ownership homes are split across each phase of the development, which is scheduled for completion in spring 2025. A proportion of Heylo’s 11 two-, three- and four-bedroom houses and 23 one- and two-bedroom apartments are available for occupation.
David Duignan, partnerships director south at Heylo Housing, said: “Being able to offer Belgrave Village houses and apartments for sale via our Home Reach shared ownership scheme will create a big boost to our Birmingham offering.”
Wavensmere Homes is delivering Belgrave Village in partnership with Galliard Homes and Apsley House Capital. Over 65% of the development – which ranges from two to 11 storeys – has already been sold at the off-plan stage, and keys to the first 60 newly completed homes are being handed over to purchasers during 2023.
Priced from £93,500 for a 50% share of a one-bedroom apartment, each plot benefits from air source heat pumps, natural ventilation, low energy appliances, and EV car charging points.
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