Avant Homes has sold 90 affordable homes at its Welby Grange development near Melton Mowbray, Leicestershire, to Sage Homes for £18m.
The homes include two- and three-bedroom semi-detached houses and four-bedroom detached properties. The new homes will be offered to customers on a predominantly social rent basis, with some affordable rent and shared ownership homes also available.
Delivery of the scheme was made possible by grant funding from Homes England’s Affordable Homes Programme.
Phil Lacey, head of affordable housing delivery at Avant Homes Group, said: “Being able to announce our first ever 100% affordable housing deal with Sage Homes is something of which we are very proud. During the course of the transaction, we developed great working relationships with the teams at Sage Homes and Homes England.
“Our intention is to further grow and evolve these relationships as we deliver our homes with Sage and explore new opportunities together. In line with UK government housing policy, we have a focus on providing additional affordable homes wherever possible and are actively seeking out more deals of this type.
“Our vision is to deliver quality homes for everyone and Welby Grange will show how effective our multi-tenure strategy is. The development will provide energy efficient new homes for those people that need them most, ultimately becoming a thriving part of the local community.”
Carl Maher, head of acquisitions at Sage Homes, added: “Sage only invests in high-quality, energy-efficient homes, which are let to people on local authority waiting lists or sold as shared ownership properties to those who would otherwise be unable to afford market rates. We are delighted to have worked in partnership with Avant Homes and Homes England to deliver this development for the people of Melton Mowbray and are proud that the vast majority of the homes will be let to local people at social rent levels.”
A spokesperson for Homes England said: “As the government’s housing and regeneration agency, increasing the supply of quality affordable homes remains one of our key objectives and we are committed to supporting Avant Homes and Sage Homes to achieve their ambitions.
“This wholly-affordable scheme is a prime example of how we work collaboratively with partners, through the Affordable Homes Programme, to achieve our mission to build much needed new communities that people can be proud to call home.”
