Weston Homes to start five big schemes before summer
8/3/24
Privately-ownd volume house builder Weston Homes plans to start work on five schemes before the summer worth £315m.
The firm is pressing ahead with projects after last week pulling the plug on its £300m flagship Norwich city centre regeneration project, blaming planning and regulatory redtape along with cost inflation.
Weston Homes said it had decided to press ahead with the schemes after a strong sales start to 2024 with the volume of open market sales more than double those in the same period in early 2023 and average weekly sales volumes 50% up on the last three months of 2023.
The new residential schemes and two more going into planning add 1,500 new homes to the firm's pipeline.
Bob Weston, chairman of Weston Homes, said: "Despite a challenging business environment impacted by rising build costs, a competitive land-buying market and the complexities of the planning system, Weston Homes has continued to move forward.
"In the first half of 2024 Weston Homes will launch £315m of new residential schemes providing almost 900 further new homes across London and the South-East, in addition to our existing portfolio.
He added there were also a number of further projects currently in planning adding more than 650 units to the existing pipeline.
The first of the five projects to launch this year is Tayfen Court in Bury St Edmunds, located on the site of a former 1950s Gasholder works, which will be transformed into a £42m development of 171 one and two bedroom mixed-tenure apartments.
In April, Weston Homes will launch Brentwood Central, a £19m five-storey residential development offering 60 one and two-bedroom apartments.
Brentwood Central five-storey flats schemeThe £53m Town Quay waterside scheme in London's Barking will also get underway providing 147 flats designed around a public plaza overlooking the Mill Pond and River Roding.
Launching around the same time will be Jasper Wharf, a landmark 29-storey residential tower also in Barking, within the Abbey Quay regeneration project. Jasper Wharf will provide 167 one and two bedroom flats for sale.
Another project starting by mid-2024 will be Bracknell Beeches, a £130m development of 349 one and two-bedroom flats across seven new buildings, from four to 17 storeys in height.
Source; Construction Management