Man Group has acquired 95 homes from Crest Nicholson at the former RAF site at Alconbury Weald, near Huntingdon in Cambridgeshire.
The investment is part of Man Global Private Markets’ Community Housing strategy. It will offer the homes at affordable rates, in addition to the section 106 allocation for the wider site.
Man GPM has purchased 64 houses and 31 flats, with 66 discount rented homes and 29 under shared ownership, all currently under construction.
Crest Nicholson is developing 192 homes at Urban&Civic’s Cambridgeshire extension, with the first homes to be ready next month and all homes delivered by summer 2022. The housebuilder is one of six at the £1.5bn new village, which will see 6,500 new homes and more than 3m sq ft of government-backed Enterprise Zone.
Shamez Alibhai, managing director and head of community housing at Man GPM, said: “The Cambridgeshire area has been an important economic engine in the UK. Unfortunately, this has meant that a large proportion of households, including essential workers, have been priced out of the market for either home ownership or rent. Our investment with Crest Nicholson on this high-quality development, will mean that we can offer homes in which families can afford to live and work in the Cambridgeshire area.”
Kieran Daya, managing director at Crest Nicholson Partnerships & Strategic Land, added: “Not only does this partnership allow us to bring a new tenure into the wider Alconbury Weald community, it also delivers sought after essential worker accommodation to Cambridgeshire.”
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Image © Crest Nicholson
