Land deal paves way for 180 new homes in Cheltenham
The new year sees a successful start for new and existing Cheltenham residents with a multi-million pound deal to purchase land for 180 new homes.
We have agreed a deal to buy two parcels of land owned by Cheltenham Borough Council and Gloucestershire County Council on Old Gloucester Road in Cheltenham and are now drawing up plans to build 180 homes on the combined 16-acre site.
The two pieces of land are next to an existing development, where we are currently building 85 affordable new homes, which will provide access to the new sites. We started work on this site in 2023 and is due to complete next year in 2025.
Of the 180 additional homes proposed on the two new pieces of land, 50% will be affordable market led housing and 50% will be affordable. Housing options will include shared ownership and social rent homes, ensuring a mixed tenure development.
Our head of land, Lyndon Parkes, said: “We’re thrilled to have agreed these deals and to be working with Gloucestershire County Council and Cheltenham Borough Council to provide these new homes.
“Having already acquired and started work on the first parcel of land at Old Gloucester Road, buying these two adjoining pieces of land is an ideal opportunity for us to create a joined-up vision for the whole site and to create an attractive and flourishing new neighbourhood. It fits perfectly with our new strategy to acquire and develop larger pieces of land ourselves so we can maximise our impact in an area and really help a place to thrive.
“We’ll be utilising Homes England grant funding to finance the development as we look to deliver a mix of tenures to meet local demand. We’re already working on the plans for the land and subject to receiving planning permission would hope to start work later this year.”
Cllr Victoria Atherstone, cabinet member for housing, at Cheltenham Borough Council said: “This is an exciting start to the new year and is another step towards increasing the number of affordable, energy efficient homes our town really needs. Bromford have demonstrated that they can deliver affordable housing which will help create more sustainable communities and reduce homelessness.”
Cllr Peter Jeffries, cabinet member for finance and assets at Cheltenham Borough Council, said: “Once again this demonstrates how the council makes the best use of its assets to deliver the right outcomes for Cheltenham’s residents and businesses; and with this initiative this means securing both modern, sustainable housing and maximising financial returns for reinvestment back into Cheltenham.”
Cllr Lynden Stowe, cabinet member for finance and change at Gloucestershire County Council, said: “We are delighted to have worked with Bromford and Cheltenham Borough Council to be able to deliver 180 new homes in Cheltenham.
“These much-needed new homes will deliver a range of affordable housing for Cheltenham on land ideally located for this purpose.”
We already own more than 12,000 homes across Gloucestershire, including 900 homes in Cheltenham.