Date: 7 January 2010
Sovereign
While some housing associations have found it hard to acquire new sites for development, Sovereign, one of the UK’s leading affordable housing providers, has been investing in different kind of new sites across the south west.
In the last few months it has been difficult for both developers and housing associations to find new sites or have the necessary funds to pay for them. Sovereign though has worked hard to make sure that they have still been able to find suitable land in preferred locations. This has also been helped by the fact we have been able to offer no deferred payments and we are now able to also enter into joint ventures with landowners.
A key part of Sovereign’s strategy has been to identify new types of sites in the south west that Sovereign could use for affordable new homes. A great example of this is Mount Pleasant farm, Bristol, which is ideally located just outside Bristol in Longwell Green, a popular area where affordable homes are in demand. The 4.5 acre farm should provide over 60 new homes at a time when the housing market is slowing.
James Gibson, Assistant Development Director (West) of Sovereign, noted, “Sovereign has been bucking the trend in the last few months by acquiring varied development opportunities in the south west. By buying up farms and other selected sites we hope to also kick start other development at the same time, ultimately offering more affordable new homes in the south west.”
