Deal agreed for £47m Preston housing site
Trafford Housing Trust, L&Q, and Willmott Dixon have formed a joint venture to deliver a £47m, 250-home scheme on Homes England’s D’Urton Lane site in Preston.
Located in Fulwood, the project will include a mix of two, three, and four-bedroom homes, with 127 of these made available for either shared ownership or affordable rent, with the remainder for outright sale.
Subject to planning consent, the partnership will purchase the land from Homes England and begin construction this year. The site sits off Junction 1 of the M55 and the M6, and forms part of Preston City Council’s masterplan for the North West Preston area.
The homes are due to be built using modern methods of construction include modular components to speed up the pace of delivery.
Anthony Dillon, managing director of Willmott Dixon in the North, said: “We and Trafford Housing Trust are community focused businesses that will not only deliver high quality new homes but, as partners in this LLP, will also deliver enhanced inward investment into the local community, going beyond just the bricks and mortar.
“We see the D’Urton Lane project as a great opportunity to achieve a wide range of community beneﬁts. We are committed to providing apprenticeships and work experience for local people of all ages as well as working closely with local schools and colleges to leave a lasting legacy.”
Larry Gold, chief executive at Trafford Housing Trust, added: “D’Urton Lane meets our core objective of tackling the current housing crisis, which is leaving hard working families struggling to make ends meet, and reflects our commitment to developing affordable homes. We are proud of our innovative development model which sees us reinvest all profits into providing more new homes and supporting wider social purpose initiatives – a model which we believe should be rolled out across the sector.”