The Government announced plans to build up to 425 new homes in Cambridge on Wednesday (July 29th), as part of its new Platform4 company. With the intention to build on brownfield railway land, the hope is that new properties will benefit first time buyers and those struggling to get onto the housing ladder in the region.
Sam Harding, Director, Land, Planning, Development and New Homes at Cheffins comments: “Demand for New Homes in the City continues to outstrip supply. Greater Cambridge urgently needs more homes due to limited land availability and planning constraints. By focusing development on brownfield land any negative environmental impact is reduced, communities are regenerated by turning neglected spaces into high quality accommodation and housing delivery is accelerated where infrastructure already exists. In a city like Cambridge, where land is limited and demand is high, brownfield redevelopment is a strategic and sustainable solution. It is also important to note that its proposed that the profits generated from this new property company will be reinvested into Britain's railways, supporting better services and infrastructure which will be welcomes by passengers and taxpayers alike.”
In total, the Government plans to create 40,000 new homes as part of this initiative with sites in Manchester, Newcastle, Nottingham and Cambridge.
Sam Harding adds:
“Best-in-class new homes in Cambridge city centre are continuing to see steady price growth in recent years. Cambridge’s appeal continues to rise, driven by world-class employment opportunities, outstanding schools, and a vibrant lifestyle that offers a calmer alternative to London. Post-Covid, we’ve seen a wave of buyers from the capital seeking a more balanced pace of life within easy reach of the city, alongside demand from those relocating for roles in the expanding life sciences and tech sectors. With the upcoming Cambridge South station and a number of exceptional new developments on the way, the city has a bright future. We’re pleased to see the Government recognising Cambridge’s potential through the Platform4 initiative, and we hope it helps more first-time buyers take that vital step onto the property ladder locally.”
Currently Cheffins is offering a series of new homes for sale in Cambridge and throughout the region as well as development land opportunities.
For more information, contact Sam Harding on 01223 271999 sam.harding@cheffins.co.uk