firm supports first HCA 'Build Now, Pay Later’ initiative in the Midlands

31st March 2011

National law firm Gateley has today exchanged contracts on the Midland’s first Homes and Community Agency (HCA) Build Now, Pay Later agreement acting on behalf of Keepmoat Homes Ltd who have agreed a deal for the first phase of The Croppings development at Lightmoor, Telford.

The national housing and regeneration agency’s new initiative has developed a model for the disposal of publicly owned sites for new housing developments. The land is thoroughly appraised with comprehensive investigations and market analysis carried out before being offered to developers from the HCA’s delivery partner panel, of which Keepmoat Homes Ltd is a member, and the first to exchange.

The vision for Lightmoor Village is to create a sustainable community with a variety of housing types for a range of tenures that incorporates a mix of uses and activities and will provide local services, facilities and job opportunities. The project will set new standards of design quality, sustainability and innovation to create a desirable living environment.

Keepmoat Homes Ltd specialises in providing high quality new homes in the Midlands, the North East, the North West and Yorkshire. All HCA delivery partner panel members have signed up to a three-year framework contract with the option to extend to four. Since the launch of the panel in January 2010, it has been used by 50 local authorities and so far 17,000 new homes have been identified for construction on HCA-owned sites.

Commenting on the exchange of agreement, HBJ Gateley Wareing partner Tim Ledger, head of the firm’s residential development team said: "Lightmoor is one of the most visionary housing development projects across the West Midlands and will deliver a ground-breaking scheme that will educate and inspire others to create urban communities of similar quality thanks to Keepmoat Homes Ltd and the HCA’s PLI."

Mr Ledger has acted for the country’s biggest house builders as well as for many private builders and developers.