Marshall Group Properties has agreed a strategic 50:50 joint venture partnership with housebuilder Hill to deliver 450 new homes in Cambridge.
The new development, Wing, will sit on a 160 acre parcel of land, and form part of a wider masterplan that allows for a total of 1,300 homes.
The first phase of the scheme will be delivered by Hill and when complete, will comprise 315 private homes and 135 affordable homes – including shared ownership and affordable rent tenures.
“We are delighted to be partnering with Hill for the first phase of the Wing development,” said Robert Marshall, chief executive of Marshall.
“Both Marshall and Hill are well aligned in respect of values, ethics and focussing on delivering excellent customer service. Together, we look forward to delivering an outstanding community on Cambridge’s eastern perimeter,” he added.
This first phase will offer a range of properties including one-, two- and three-bedroom apartments and two-, three-, four- and five-bedroom houses.
Additionally, there will be a wide range of facilities to support the new community, including a new primary school, sports pitches, allotments and retail and commercial space. New transport infrastructure will also be delivered as part of the development and nearby Newmarket Road will be upgraded.
Andy Hill, chief executive of Hill, commented: “We have established firm roots in Cambridge and have long been committed to delivering more homes to this great city as it continues to thrive and grow.
“Having developed over 1,000 homes in Cambridge over the last five years alone, we take great pride in being able to provide a variety of homes for a range of people. We are therefore thrilled to be partnering with Marshall on this development and hope that it marks the start of a successful long-term relationship between two like-minded family firms committed to making Cambridge one of the best cities to live in the UK.”