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Home Group enters JV with Stonebond to deliver 73 homes in Hertfordshire
Matt Roberts, PR and media advisor
Home Group have agreed their first Joint Venture with developer Stonebond to jointly deliver 73 new homes in Cuffley, Hertfordshire.
With detailed planning consent already secured, the development will provide 26 affordable homes in line with local planning policy requirements, with the remaining 47 homes sold on the open market by Stonebond.
A significant investment of £1.5m will help to improve and enhance local services, including schools, highways, NHS provision and local sports facilities.
The development is set to achieve a 25% biodiversity net gain thanks to the planting of more than 100 new trees and the creation of 2.5 acres of landscaped open space for residents.
Will Gardner, Executive Director of Asset and Development at Home Group said: “We are delighted to be entering this joint venture with Stonebond to deliver much-needed affordable housing in Hertfordshire, meeting a key local need.
"Developing and funding quality, mixed tenure, new homes in partnership is a key feature of Home Group's strategy to maximise delivery and we are really happy to further our relationship with Stonebond in this way.
“It is important to us that we also improve the local communities where we build and the significant investment into Cuffley from this development will make a difference for local people.”
Peter Williams, Group Chief Operating Officer for Stonebond said: “We are thrilled to announce our first Joint Venture with Home Group, marking another significant milestone in our partnership. We look forward to building on this collaboration and hope there will be many more successful ventures together.
This high-quality new development is set to provide a significant number of new homes, including affordable housing options that will help address local need. They will be built with energy efficiency in mind, reducing running costs for residents, and using sustainable construction methods to reduce overall environmental impact.”
Joe Last, Associate Director in the development team at Savills in Cambridge, which marketed the site, said: “We are delighted to have advised the landowner on the sale and selected Stonebond from the outset to expertly promote the site through the planning system. Together with Home Group they can now deliver this significant project and provide much needed housing for the local area.”
Construction work will start this summer, with the development expected to be completed by 2028.