Cobalt and Lovell tie up £12m deal for Liverpool housing
The local housing provider is to manage 88 homes built by sector specialist Lovell Partnerships on a site adjacent to the Showcase cinema on the East Lancs Road in Croxteth.
Cobalt, which manages around 6,000 homes across north Liverpool, said the contract will make a significant contribution to its ongoing regeneration proposals for the wider Stonedale neighbourhood.
The funding package for the project includes funding from Homes England and the Liverpool City Region Combined Authority.
Under the arrangement, two, three and four-bed homes will be available for affordable rent, rent to buy and shared ownership, broadening Cobalt Housing’s tenure offer in the area.
The homes will be managed by Cobalt Housing, and will support Liverpool City Council’s ambition to ensure people living in the local area have the opportunity to access high quality, affordable homes.
Cobalt has already delivered 57 new homes at Altbridge Park and has plans for a large-scale programme of estate regeneration works at the Stonedale and Stonebridge estates over the next five years.
Claire Griffiths, chief executive at Cobalt Housing, said: “The existing Stonedale Estate and adjacent areas are a high regeneration priority for us, and providing new homes as well as improvements to our existing estates is a key focus of our emerging regeneration and development strategy.”
Griffiths said that the provider’s revised corporate plan, outlining plans to deliver 1,000 new homes, will be published in the coming weeks.
Tahreen Shad, regional partnerships director at Lovell Partnerships, said: “Liverpool is an important location to us, and we’re very proud to be investing in and delivering a number of schemes across the city.
“We’re looking forward to getting started on the Croxteth site and getting further embedded in the local community through our social value programme.”
Griffiths joined Cobalt from Irwell Valley Homes a year ago, taking over from the retiring Alan Rogers.