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Bromford strikes biggest ever land deal for 200-plus-home site
Bromford has acquired its largest ever piece of land, with plans for more than 200 homes on a site in Gloucestershire.
The 46,000-home landlord has bought the 19.5 acre site in Matson from a local landowner.
Bromford declined to disclose the exact price it paid for the land, but said it was a “multimillion-pound” deal.
Robin Smith, operations director at Bromford, said the acquisition showed the association’s “growing ambitions to invest in more large-scale projects”.
It comes after the Tewkesbury-based landlord announced last week it had secured £127m in new funding to help with its development push.
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The Matson site already has outline permission for 217 homes, and Bromford said it will submit a full planning application for a major mixed-use development by the summer.
It plans around half of home to be for rental tenures, with the rest a split of shared ownership and market sale.
The landlord’s in-house construction team will lead on development of the site.
In Inside Housing’s most recent annual Biggest Builders survey, Bromford came ninth as it handed over 1,265 homes in its 2022-23 financial year.
As of September 2023, Bromford had completed 472 in the current financial year, but said it is on track for around 1,200 annual completions by the end of March.
In its last full year, the housing association reported a 5% drop in post-tax surplus to £75.3m after a rise in operating costs.
The landlord currently has a G1/V1 rating with English regulator after retaining the grades following its annual stability check last year.
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