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82 new homes are being built at Lock 44 – Wolsey Island thanks to a partnership forged between a developer, a housing association and a contractor.
Newtown Living, Nottingham Community Housing Association and Lovell Partnerships struck the £18 million deal to redevelop the 4.8 acre site on previously derelict industrial land.
Part of Leicester’s waterside regeneration, the site is bounded by the River Soar and the Grand Union Canal.
The 82 two, three and four-bedroom houses being built at Lock 44 will transform the redundant manufacturing site.
Nottingham Community Housing Association is buying 47 of the new properties to let them as affordable homes. The other 35 will be rented out by Newtown Living; the build to rent family housing brand of parent company GS Residential.
To achieve the deal, the parties had to overcome obstacles including the location and history of the site, the lack of local services and infrastructure, and the phasing of the development amid Covid restrictions.
Lock 44 – Wolsey Island is Leicester’s first build to rent scheme for houses rather than flats. The privately rented homes will be serviced, including gardens being maintained and windows cleaned.
Addison Hunt Limited
Nottingham Community Housing Association
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47 Westview Avenue, Glen Parva, Leicester. LE2 9JU. Company number: 5420643