East Suffolk Council
New homes acquired for affordable rent and shared ownership
House hunters will soon have the chance to secure one of 15 new affordable homes recently agreed for purchase by East Suffolk Council under a planning agreement.
East Suffolk Council has agreed to purchase the properties from Cripps Developments as affordable rented homes and for sale under shared ownership, which allows people to buy a percentage of the property and pay a low-cost rent towards the balance.
With support from employer’s agent, REAL Consulting, the agreement was made possible under Section 106 policy, which requires a percentage of all new homes built on eligible sites to be affordable.
The properties comprise a mix of one, two and three-bedroom bungalows, semi-detached and terraced houses, with 10 available for affordable rent and five for sale under the shared ownership scheme.
Named Jubilee Park, off Chapel Road, Wrentham, the 65-plot development is currently under construction, with the first shared ownership homes due for completion in the summer, and the remaining shared ownership and affordable rent homes due for completion in the winter of 2023.
East Suffolk Council expects to appoint a sales agent for the shared ownership homes in the near future. Meanwhile, the affordable rent homes will be advertised via Gateway to Homechoice.
Cllr Richard Kerry, East Suffolk Council cabinet member for Housing, said:
“We fully appreciate the need for more affordable housing in East Suffolk. By purchasing these new homes, we have the opportunity to make them available for an affordable rent to local people who need them, and for sale under shared ownership for those looking to take a first step on the housing ladder.
“These properties will be added to our Housing Revenue Account (HRA) stock and we will continue to work with developers to provide more, much needed homes for local residents.”
A spokesperson for Cripps Developments said:
“Cripps are delighted to be working with East Suffolk Council on delivering much needed affordable homes in Wrentham.
“We continue to deliver distinguished private homes in a region where demand and necessity are still very high. Alongside this, we are also pleased to work with our local authority partners in delivering much needed affordable homes alongside our extensive private portfolio.
“Jubilee Park will be a fantastic development for Cripps and we are committed in our company mission to provide increased opportunities and choices when it comes to living in Suffolk. By extension, we are pleased to continue our excellent working relationship with East Suffolk Council in their own goals of serving their local communities.”