Affordable homes boost

William Sutton Housing Association has been chosen to help meet the need for affordable homes in Bracknell.

One of the UK's leading housing associations has been chosen to help meet the need for affordable homes in Bracknell.

William Sutton Housing Association, which owns and manages more than 14,000 homes across the country, will provide 100 homes at Peacock Farm - a major housing development by Redrow and Persimmon Homes.

William Sutton secured a grant of just under £6m from the Housing Corporation to fund the scheme, and will work as part of a consortium, which includes Thames Valley and Parkside housing associations.

Together the consortium will provide 300 affordable units.

The first phase will comprise around 90 family homes, to be offered for affordable rent and through shared ownership schemes, with remaining properties being developed in phases over the next five years.

John Gronow, head of development for William Sutton's South East region, said: "We are delighted to have been granted this funding from the Housing Corporation, which will enable us to deliver high quality affordable homes, to help meet the housing needs of local people in Bracknell".

""We were pleased to be selected by Bracknell Forest Borough Council as one of the preferred development partners for the affordable homes at this major development.

We look forward to working with the council further to provide more affordable housing in Bracknell town centre in the near future." The Peacock Farm development will see up to 1,500 houses built alongside a new school, hotel and shops".

"The funding allocated to William Sutton is part of a national allocation of £3.9 billion by the Housing Corporation, under its National Affordable Housing Programme".

"The programme will see a total of 84,000 new homes developed for rent and low cost home ownership over the next two years".

"By offering homes for shared ownership, William Sutton will be helping local people priced out of the property market".

"Land Registry figures show that the average cost of a property in Bracknell currently stands at £222,975 - nearly 10 times the average wage of £23,109".

"Shared ownership schemes enable those who cannot buy a home outright, to purchase an initial share and pay rent on the remainder".

"In time, shared owners can choose to increase the share they own".

"Councillor Dale Birch Executive member responsible for Housing at Bracknell Forest Borough Council, said: "We are delighted to be working with William Sutton Housing Association at Peacock Farm, which will provide a real boost to the provision of much needed affordable housing in the area".

"William Sutton was selected because of its strong track record and we look forward to seeing the first homes completed and the first residents moving in.".

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