Spire Solicitors LLP has helped bolster East Anglia’s affordable housing stock, by advising East of England housing provider, Flagship Group, on the acquisition of land and development agreement, with leading homes developer Lovell.
The development, Trinity Meadow, will deliver a total of 157 new affordable homes, made up of 87 affordable rent and 70 shared ownership homes. The site will consist of a combination of two-, three- and four-bedroom houses and bungalows, with 29 of them being reserved for those living in the parish of Rackheath, or the surrounding areas, so that families and individuals are able to afford a home in the area where they grew up.
Residents will also get to enjoy a large area of green open space, a new cycle route, and upgraded woodland path.
Spire Solicitors LLP were lead advisors for Flagship Group in this deal. Spire Solicitors LLP led the transaction with support from Katharine Chatters, Associate Solicitor, Spire Solicitors LLP.
Work on the site began earlier this year and will be completed over 11 phases over the next three years. The show home is expected to open in early 2022, with the new homes expected to be completed by December 2023.
Tony Tann, Managing Director of Flagship’s development company said: “The development will create much needed affordable housing in the Norwich area, and the option of shared ownership will help people get onto the property ladder with the opportunity to purchase their first home.”
We can help you…
Our highly-regarded Social Housing team can assist you with the acquisition of land and development agreements. Contact us now on 01603 677077.