Housebuilder Honey has partnered with Bradford-based Incommunities to deliver 85 new homes for the housing association at its Heather development in Low Moor, Bradford.
The £19.3m deal is the first between the two businesses and will comprise 59 partnerships plots and 26 section 106 properties. These will include a range of two-, three- and four-bedroom semi-detached, end terrace and terraced homes.
Supported by grant funding from Homes England, the development will provide a mix of tenures including social rent, affordable rent, Rent to Buy and Shared Ownership.
Work on the properties has already commenced, with the first residents expected to move in this September.
Commenting on the partnerships deal, Honey chief executive, Mark Mitchell, said:
“This is Honey’s first partnerships deal within Yorkshire, and we are very pleased that it is with Incommunities.
“Our partnership will deliver much needed sustainably designed affordable homes for Low Moor residents. We believe it’s our social purpose to help make more homes available to those who need them most, and working with Incommunities allows us to do just that.”
Sheffield and Leeds-based Honey’s partnerships division was launched last year. Since then the business has agreed partnerships deals on three sites, including Low Moor, to deliver 254 affordable homes generating forward sales of £55m.
Incommunities director of development and regeneration, Aimee Law, commented:
“We’re pleased to be partnering with Honey on this development, which will deliver 85 much-needed affordable homes in Low Moor.
“This scheme marks the start of our partnership with Honey, and we look forward to working together to deliver high-quality homes.
“We manage homes across West Yorkshire, with the majority in the Bradford District, so continuing to invest in communities like this really matters to us.
“We have ambitious growth plans, and we’re keen to explore new opportunities across West Yorkshire as we continue to expand our new build programme.
“By working together, we can help local people and families access homes they can afford in the communities they want to live in, while delivering homes that have a lasting positive impact on the area.
Honey is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital.
For more information on Honey search ‘homes by Honey’, for Incommunities, search ‘Incommunities Bradford’.