Housebuilder to Invest £2 Million in Local Community with New Development
UK housebuilder Linden Homes has announced plans to invest over £2million in local infrastructure and community facilities. This pledge is part of their new residential development, Kings Newton in Grantham, which is set to feature 228 multi-bedroom properties.
A Boost for Local Infrastructure
The investment, which forms part of the planning agreement for Kings Newton, will be channelled into several key areas. These include road and transport enhancements, with a contribution of £900,804, of which £570,000 will be allocated to the Grantham Southern Relief Road and £330,804 to sustain bus services and other sustainable transport alternatives.
Support For Education and Health
Funding will also grant significant support to local education and health services. Linden Homes is earmarking £889,329 for education, with additional land set aside for the expansion of the neighbouring Poplar Farm Primary School. The healthcare sector will benefit from a £150,480 boost, with the company offering a £52,212 contribution towards a community centre.
"Construction is expected to begin soon at Kings Newton, which should see us in a position to release the first selection of homes onto the market in January next year. We anticipate the buyers of these properties will be able to move into their new homes by next summer," said Andy Pearce, regional build director at Vistry East Midlands, the parent company of Linden Homes.
Affordable Housing Scheme
In another significant move, the housebuilder is set to introduce a Discounted Open Market Dwellings (DOMD) scheme at Kings Newton. The scheme will offer people with a strong local connection the chance to purchase a new home at 20% off the standard price.
To be eligible for the initiative, buyers must meet certain criteria, and it is projected that 10% of the homes being constructed at Kings Newton—amounting to a total of 23 properties—will be included in the scheme. The first of these discounted homes are expected to be put up for sale in spring 2024.
"There has been a great deal of interest in this development from the outset and we expect the range of two to five-bedroom homes to be attractive to a mix of purchasers, including first-time buyers, growing families, and individuals downsizing after retirement," commented Fraser Hopes, managing director at Vistry East Midlands.