PS8 Million Development Finance Loan to Support Sustainable Housing in the UK

Strategic Insights -

The UK Government has provided a £8 million development finance loan to Greencore Homes, a sustainable housebuilder, to support the delivery of 42 net-zero homes in Oxfordshire. This partnership is part of Homes England's commitment to aid the delivery of more eco-friendly, low-carbon homes and to support small and medium-sized enterprise (SME) builders. The funding comes from the Home Building Fund, designed to support SME housebuilders to build more homes, more quickly and to create thriving communities.

Key Takeaways:

  • The partnership between Homes England and Greencore Homes will support the delivery of 42 net-zero homes in Oxfordshire.
  • The £8 million development finance loan is part of Homes England's commitment to aid the delivery of more eco-friendly, low-carbon homes.
  • Greencore Homes aims to build 10,000 better-than-net-zero homes by 2035.
  • The Home Building Fund is designed to support SME housebuilders to build more homes, more quickly and to create thriving communities.
  • The Milton Heights development will prioritize increased access to green spaces and safe and considered walking and cycling routes.
  • The development will incorporate a mix of 27 open market and 15 affordable homes, located just under three miles from Didcot Parkway Station.
  • The homes will be built to Passivhaus standards using Greencore's innovative Biond panels that lock up more carbon than they emit.
  • The panels enable rapid and efficient construction, accelerating project delivery and directly addressing the UK's housing shortage.

Statistics:

  • £8 million development finance loan to support the delivery of 42 net-zero homes in Oxfordshire.
  • 42 net-zero homes to be delivered in the Milton Heights development.
  • 27 open market homes and 15 affordable homes to be constructed in the Milton Heights development.
  • £45 million equity investment by majority shareholder M&G.
  • Greencore Homes aims to build 10,000 better-than-net-zero homes by 2035.

Sources:

  • [Source 1: UK Government news release, no date provided]
  • [Source 2: Greencore Homes website, no date provided]
  • [Source 3: Homes England website, no date provided]