St. Modwen Homes, the dedicated housebuilding arm of developer St. Modwen, has signed an agreement worth £18.5 million with Registered Provider, Sage Housing, to deliver affordable homes at its Heathy Wood development in the Crawley village of Copthorne, West Sussex.
Delivered over the next three years, St. Modwen Homes will build 91 new family homes at the site which will be taken to market and operated by Sage under affordable rent and shared ownership initiatives. The agreement is the latest example of St. Modwen working with an alternative operator or provider to deliver much-needed UK homes across multiple tenures.
For Sage, the deal forms part of its wider investment strategy, which has seen it commit to delivering 20,000 new homes across the country by 2022. In May, the provider announced that it had agreed deals on £116 million worth of affordable homes despite the Coronavirus pandemic.
Dave Smith, Managing Director of St. Modwen Homes, said:
“We are thrilled to be welcoming Sage to Heathy Wood. This deal is not just about us delivering on our affordable housing obligations, but to make sure that we are working with the right partners to improve access to housing. We want to give as many people as possible the opportunity to live in a St. Modwen home and we are doing so by collaborating with providers that share our values; Sage is young, ambitious, customer-focused and committed to providing housing at a time when stock is in short supply.”
Rod Cahill, Interim Chief Executive Officer at Sage, said:
“We’re delighted to partner with St. Modwen Homes on the delivery of these much-needed homes in West Sussex. During this difficult period, Sage has continued to invest as we are determined to play a role in reviving the construction industry and providing the affordable homes that the UK desperately needs.”
Find out more about St. Modwen Homes at www.stmodwenhomes.co.uk