Vistry Partnerships has secured a land-purchase contract with Warwick District Council.
The regeneration specialist acquired the 3.25-acre site that sits adjacent to the existing ‘Priors’ development in Leamington Spa.
The project will see the delivery of 54 new homes to rent or part-buy and will comprise general-needs one-, two-, three- and four-bedroomed houses and bungalows.
It will accompany the adjoining open-market mixed-tenure development, which has a similar housing offer for those who require a high-quality affordable-tenure option.
The former Gallagher Estates-owned site was landlocked between land owned by Warwickshire County Council and the adjoining Vistry Partnership development, which allowed the parties to strike a deal to deliver much-needed affordable homes in the district.
The area benefits from the Europa Way Corridor Highways Improvement Programme and is well served by road, cycleways, and public transport.
Both Warwick and Leamington rail stations are located five minutes from the site, providing commuter routes into Birmingham, Stratford-upon-Avon, Coventry, and London.
The site will sit near proposed new parks, a primary school, and a neighbourhood centre – as well as Myton Secondary School.
Tachbrook Park and the Warwick Technology Park employment areas are both within walking distance.
The deal follows Homes England contracting Vistry Partnerships to develop more than 900 homes across two schemes in Cheshire and Kidderminster.
James Warrington, Divisional Managing Director of Vistry Partnerships Central and North, said: “We are very pleased to be working in partnership Warwick District Council to transform this site.
“Some of these homes have already been built with others underway, including our development at the Priors where Vistry Partnerships are currently building a collection of brand new one-, two-, three-, and four-bedroom houses for sale under our Linden Homes brand.”
Cllr Jan Matecki, Housing and Property Portfolio Holder, Warwick District Council, said: “This scheme is part of a growing portfolio of developments that the council is bringing forward to enhance the supply of decent social housing in the district over the next few years.
“Proceeding now to the planning stage offers confidence that there will still be a stream of work for the wider construction sector, which will be important to help the economy recover from the COVID-19 emergency – as well as addressing long-standing local-community needs.
“The proposed houses will be built to a high level of energy efficiency as part of the council’s commitment to addressing the climate emergency.”
A start on site is planned for Q4 2020.