Genesis Homes has secured a £4 million funding loan with Homes England to support the delivery of 37 new homes in Brigham, Cockermouth.
Homes England will provide the finance through its £4.5 billion Home Building Fund – a scheme introduced to support small and medium sized (SME) housebuilders in the delivery of new housing. The funding from Homes England will also facilitate the construction of an off-site Drainage Improvement Scheme, which will greatly benefit the village of Brigham.
The scheme, which is named St Bridget’s, will feature several of Genesis Homes’ house type designs, combined of three, four and five bedroomed high-quality homes, eight of which will be launched as affordable homes. The Brigham site features a picturesque pond with an array of wildlife.
The homes will be built to a high specification to address the need for aspirational and quality housing stock to support and retain Cumbria’s skilled workforce.
The development is well underway with the sales office already experiencing fantastic feedback and a high level of interest from early-bird buyers.
The Government is increasingly looking to work with SME housebuilders to deliver the target of 300,000 new homes per year required to alleviate the shortage of new homes in England.
Genesis Homes is a Penrith-based housebuilder with several sites in development across Cumbria including in Wigton, Brigham, and Armathwaite, employing 24 staff at its head office in Penrith, and over 50 local contractors. Genesis Homes began construction on its first site in 2017 and has experienced an exceptionally high level of demand for its new homes from the very beginning.
Nicky Gordon, Managing Director of Genesis Homes said: “We’re very excited to announce this support from Homes England which will contribute to the delivery of our new homes in Brigham. It’s great to see Homes England eager to work with small and medium housebuilders to deliver the number of homes needed.”
Colin MacCallum, Transactions Manager, from Homes England said: “Homes England’s objective is to support and create more SME developers to help diversify the market.
“We are pleased to have collaborated with Genesis Homes to provide finance for this scheme. St Bridget’s is another example of how we work with our partners and do things differently to address the shortage of housing and get more homes built.”
The Home Building Fund is open to larger builders and developers, SMEs, custom builders and regeneration specialists. Find out more about the Home Building Fund at:www.gov.uk/government/publications/home-building-fund
