Cottsway Housing has signed contracts on a new development in Milton-under-Wychwood, West Oxfordshire, that will provide 31 new affordable homes.
Working with developer Mactaggart & Mickel, Cottsway has exchanged contracts on 21 affordable rent and 10 shared ownership homes, being just off the high street in the centre of the village.
Once fully completed, the new development, named St Jude’s Meadow, will include a mix of two-bedroom flats and two, and three-bedroom houses.
Colin Bloodworth, Assistant Director of Development and Assets at Cottsway, which is based in Witney and is the largest provider of affordable housing in West Oxfordshire, said: “House prices in West Oxfordshire on the open market are extremely high. New developments like St Jude’s Meadow mean we are able to offer additional affordable properties to rent whilst our shared ownership homes can help more people take their first step on the property ladder.”
“These new homes will be of great benefit for young professionals, families and those looking to downsize. This is our first development with Mactaggart & Mickel and we look forward to working with them again to deliver much-needed new homes.”
The cost of the shared ownership homes at Milton-under-Wychwood, based on current prices, is likely to be in the region of £230,000-£235,000 for a two-bedroom flat and £310,000 for a three-bedroom house. Purchasers can buy an initial share of between 40 and 70 per cent, and then buy additional shares as their income increases if they wish.
Joanne Casey, Managing Director for Mactaggart & Mickel’s Homes England, said: “Milton-under-Wychwood is a beautiful Cotswold village and our National House-Building Council award-winning Site Manager, Paul Staritt, and his team have worked tirelessly to ensure that the design of all the new homes blends in to the village and wider area.
“As a family-owned company that has been building homes in Scotland since 1925, we’re excited by the progress at our first English development. Our partnership with Cottsway allows us to offer a broad range of housing options at St Jude’s Meadow and we are looking forward to welcoming our first residents later in the year.”