Colne acquires former Army homes
Posted: Jul 12, 2009
Colne Housing has acquired dozens of high quality affordable homes on former Army land in Colchester thanks to a £12.5 m partnership which includes East Anglian developers Iceni Homes and Colchester Council.
A new range of 83 properties on Oakapple Close, Colchester, an unoccupied Ministry of Defence site, will soon be available at affordable rents through Colchester Council's Choice-Based Lettings Scheme to boost the homes hopes of local families, struggling to keep a roof over their heads. It is expected that the properties will be available over the next eighteen months.
Iceni Homes, the development arm of Colne Housing in Colchester, is poised to begin refurbishment work on the ex-Ministry of Defence (MoD) family homes.
This significant development marks another key phase in Iceni's restructure and rapid growth as the Oakapple Close scheme will be one of Colne Housing's largest in Colchester.
The affordable homes surge has been made possible after MoD homes specialist Annington Homes received transfer of eighty three houses from the MoD in February.
They put the homes up for sale and the vital multi-million-pound funding to refurbish the homes was achieved through a last-minute intervention by Colchester Council.
Colchester Council stepped in to bridge the funding gap between the cost of the homes and the £ 12.1 million cash made available through Iceni Homes, the Key Communities Consortium in the eastern region and The Homes and Communities Agency.
Colchester Council's cash boost of an extra £407,000 meant the £ 5.5m acquisition deal could be achieved and the refurbishment estimated to cost in the region of £7m can now proceed over the summer.
Iceni Managing Director Mike Goodson said: "Iceni Homes is delighted that Colchester Council has stepped in to create the final link in the funding chain. Its far-sighted action has further enhanced our long-standing partnership with the local authority.
"Colchester Council's generous intervention means Iceni now has the capacity to expand its delivery of affordable homes and create an attractive community in the heart of Colchester, offering new hopes of a home to dozens of hard-pressed families.
Colne Housing Chief Executive Mark Powell Davies said: "The Oakapple Close scheme is an exceptional opportunity for Colne Housing to enhance its outstanding track record for excellence in delivering new developments.
"We are delighted Colchester Council stepped in to enable us to move ahead with this scheme, one of the largest Colne Housing will have ever delivered in the Colchester area.
"There is a great need for affordable houses in Colchester. There are many flats however the demand for 2-3 bedroom houses is greater because there are more practical for families. The area itself is in need for development, and the council saw that opportunity." The properties on Oakapple Close are currently not occupied. The area is currently dominated by a tarmac car park with is in the centre and this will be replaced with a park area ideal for children in the area. Council quote saying how well Colne works with them, what a great role Colne plays in the community and the effectiveness of partnership working to give new homes to so many families in the Borough. Importance of providing many more new homes
With a current programme totalling £18 million in 2008, Iceni Homes, is the development arm of Colne Housing Society in Colchester, Suffolk Housing Society in Bury St Edmunds and Hundred Houses in Cambridgeshire.
Ian Hudson of Annington Homes said: "This opportunity is significant for us and one which dovetails precisely with our strategy. Delivery of such a scheme complements our existing stock holding and assists in achieving greater efficiencies for our Housing Management and Asset Management departments.
"We look forward to working with the new partnership which opens up further growth potential in the coming years."
