Homes England, alongside the National Housing Bank and The Hill Group, have acquired the circa 700-acre Cambridge East strategic site from Marshall Group for an undisclosed price.
The site includes Cambridge City Airport and surrounding land and could accommodate more than 10,000 new homes and at least 3m sq ft of commercial space after Marshall relocates its operations from the site by mid-2029.
The Cambridge Growth Company, a subsidiary of Homes England, will work in collaboration with delivery partner The Hill Group to build out the site.
Steve Reed, housing secretary, said: “Cambridge East will become exactly the type of new community this country is crying out for – thousands of new homes to help people get a foot on the housing ladder, backed up with good jobs, modern transport links and beautiful green spaces. It is a great example of how this government is committed to ending the cycle of homes coming first and services catching up years later.”
Amy Rees, chief executive of Homes England, added: “This is a fantastic example of how public and private sector collaboration can bring forward much-needed new homes, helping to create a new sustainable community that delivers real opportunities and long-term benefits for local people. A core part of our role is unlocking the potential of places, supporting them to become thriving communities and accelerating locally led plans for housing and regeneration. This ambition has underpinned the collaboration between Hill and Homes England, and I am delighted by news of this acquisition.”
Andy Hill OBE, founder and chief executive of The Hill Group, said: “We are immensely proud to be collaborating with Homes England as the master developer of Cambridge East – one of the UK’s largest urban extensions. Cambridge is my home city, and this project reflects both my personal interest and Hill’s long-term commitment to the region.
“Cambridge East is a unique opportunity to create a thriving, sustainable new neighbourhood. We will make sure the masterplan for this site is informed by local residents and delivers what the community wants – much-needed infrastructure improvements, amenities, new homes and employment creation, while setting a new benchmark for placemaking.”
Roger Hardy, chair of Marshall Group, added: “We are delighted to have secured a bright future for Cambridge East through its sale to Homes England and Hill, two organisations with outstanding track records of delivering high quality, award-winning developments in Cambridge and across the UK. Marshall is a family-owned business with roots in Cambridge dating back to 1909, and we care deeply about the city and its future. Following careful, long-term consideration supported by Savills, we have passed the mantle for this development to partners best placed to ensure the site thrives.”
Peter Freeman CBE, chair of the Cambridge Growth Company, said: “Cambridge East is a once in a generation opportunity to transform a site that has played an important role in Cambridge’s history into a truly exceptional new neighbourhood for the city and generations to come. We are delighted that Homes England and The Hill Group have taken this important step forward. This is a hugely significant project for Cambridge, and we look forward to continuing to work with partners to support its successful delivery in the years ahead.”
Richard Rees, UK managing director of Savills, added: “As a company with deep connections to Cambridge, The Marshall Group cared deeply about unlocking the potential and bringing forward the next stage of Cambridge East and we were delighted to have worked closely with them with through this process.
“This public and private sector collaboration demonstrates what can be done, even in a challenging market. It’s a clear sign that activity continues despite wider economic headwinds, and it is possible to structure deals that unlock new homes, essential infrastructure and make a positive contribution to the UK economy as a whole.”
