Legal & General has confirmed the acquisition of a 78-acre site in Shrivenham, Oxfordshire – with outline planning for 515 new homes
The acquisition is the third major site being brought forward by Legal & General’s housebuilding division and construction of the first phase of new homes is due to start at the end of next year.
Modular construction is expected to provide 180 of the new homes as affordable – with the homes being built at Legal & General’s factory in Leeds.
Overall, the site is considered large enough to provide a full range of housing options, from one-bed apartments to four-bed detached family homes.
By using traditional building techniques alongside modular construction, Legal & General believes it can accelerate delivery on the ground.
Legal & General Homes already has two large consented schemes, which are located in Berkshire where its head office is based.
It is now on site building 1,000 new homes on its 250 acre site in Crowthorne and will also begin on site on 1,500 new homes at its 272 acre site in Finchampstead (near Arborfield) at the end of 2018.
James Lidgate, CEO of Legal & General Homes, said: “We want to challenge public perceptions of new homes by delivering a product that surpasses buildings of the past in terms of quality, efficiency and comfort, while ensuring the homes are carefully integrated into the community, providing much enhanced public realm, facilities and infrastructure.
“As well as addressing the chronic shortfall of housing in the UK, Legal & General Homes is looking to regenerate the UK’s landscape for the better and build vibrant communities where people want to live, such as this sought after location in Oxfordshire.
“Using Legal & General’s long term capital, we are seeking to create a legacy that we are proud of.”
Legal & General has been involved in housing activities for nearly 20 years and currently has plans in place to build more than 80,000 new homes over the next 5-10 years.