Savillsacting on behalf of the master developer space for people (PFP), with JLL acting for barrett redrowhas helped secure a major joint venture to deliver one of the UK’s largest placemaking schemes in recent decades.
Partnership between PFP and barrett redrow will bring forward six interconnected villages along the GilstonEast Herts is situated within 660 hectares of public open space, including restored parkland, grassland and woodland.
The development is planned to deliver 8,500 homes, of which at least 1,950 will be affordable, and is intended to support long-term housing needs in the area, including provision for local families, first-time buyers and key workers.
As well as housing, the scheme is expected to generate more than £6 billion for the UK economy and support thousands of jobs and apprenticeships. The plans also include 29,000 square meters of commercial space, as well as schools, leisure facilities, a community center and more than 15km of heritage trails.
peter blakeHead of National Development Consultancy Team Savills Operational Capital MarketsAnd andy redman Advised PFP on the transaction. JLL Barrett acted for Redrow.
Blake said: “The agreement brings together PFP’s master developer expertise with Barrett Redrow’s reputation as the UK’s leading homebuilder and represents a step change in the way new communities are delivered – highlighting the power of collaboration and ambitious thinking.
Redman commented: “The development promises to provide much-needed new homes while supporting the existing community with additional facilities and outdoor space and we look forward to seeing how the plans pan out.”
Greg Reid, CEO of Places for People, said: “Our vision for this development is a new blueprint for modern garden towns, shaped by deep community insight and a commitment to doing things right from day one.
“Combining the long-term management of places for people and a social value approach with Barrett Redrow’s exceptional ability to deliver homes at scale and a like-minded approach to social value, we can accelerate one of the most significant new communities in the UK.
“This partnership unlocks delivery at a speed and scale that no single organization can achieve alone and ensures we deliver the infrastructure, green space and high-quality homes that people deserve.”
David Thomas, chief executive of Barrett Redrow, said: “Working with Places for People provides an opportunity to show what large-scale, responsible, community-led development looks like.
“Our new joint venture will deliver 8,500 new homes across our three brands, Barrett Homes, David Wilson Homes and Redrow, plus Places for People, giving customers the best possible choice for their new home. This is a once-in-a-generation project where we can create a modern garden city, connecting people with nature and growing with community.”