£20m loan to support residential development in Leeds

£20m loan to support residential development in Leeds

Homes England has awarded Templegate Developments – Evans Property Group and Keyland Developments’ joint venture partnership – a £20 million loan to support the delivery of a new mixed-use sustainable community in Leeds Aire Valley.

Planning permission is already in place for 1,100 new homes, a primary and secondary school, public open space, a local centre and a convenience store as well as associated infrastructure on the 170-acre former open cast colliery site which is located to the east of Junction 45 of the M1.

In July this year, Templegate Developments submitted an additional application for a further 700 homes, taking the total housing numbers to up to a potential 1,800.

The Homes England loan will support the initial infrastructure and reclamation works which alone carry a cost of some £53 million.

These crucial works will facilitate the development of the entire scheme which is set to make a significant impact on the region’s housing and economic targets in addition to enabling the creation of more than 500 new construction and operational jobs.

The team is in the process of appointing a contractor with works set to commence this month.

As part of the development proposals, Templegate Developments is also transferring its interests in those parts of Skelton Lake within the site to Leeds City Council in order for the Council to create, possibly in partnership with the RSPB, a new nature reserve.

Templegate Developments has also committed to a significant financial contribution to the ongoing management cost of the nature reserve.

Peter Garrett, Keyland Developments MD, said; “Templegate Developments is committing major investment into the Skelton Gate regeneration scheme and we are delighted with the support the development has received from all key stakeholders and the community.

“The plans to create an entirely new sustainable community, whilst aspirational, have always been entirely deliverable and we are incredibly excited to be at the stage where preparatory works can commence.”

James Pitt, Development Director at Evans Property Group, said: “The securing of this significant loan from Homes England has unlocked and accelerated the development of Skelton Gate and will enable us to commence the first phase of our groundworks and infrastructure programme with immediate effect.

“The vision for Skelton Gate has been developed over almost a decade with close collaboration between Homes England, Leeds City Council, as well as NHBC and we are now looking forward to commencing on site.”

Neil Milligan, Head of Infrastructure and Complex Projects at Homes England, added: “Skelton Gate is a great example of how Homes England works with ambitious partners to make homes and communities happen.

“Through our Home Building Fund we help unlock land to create homes where they’re most needed. This development will transform a brownfield site within the Aire Valley, a key strategic regeneration and growth priority for Leeds City Region.”