Southern Grove buys site for affordable residential scheme
Southern Grove has exchanged contracts for a site in Hemel Hempstead to build a 100% affordable residential tower.
Originally earmarked for a project said to be the “world’s most sustainable residential tower”, Boxmoor Forest was sold to the developer out of recievership for around £8.5m. Subject to planning permission, Southern Grove will partner with a housing association and bring forward 170 affordable homes at the scheme.
The site was previously earmarked for a scheme called The Beacon in 2015, which was later changed to current name Boxmoor Forest, which never got underway. The debt the previous owner Lumiere Developments had against the project was eventually called in by lenders.
“Hemel Hempstead desperately needs more affordable homes and we’re proud to be tabling the latest in a series of projects for fully affordable schemes right where people need them,” said Southern Grove chief executive Tom Slingsby.
“It’s great news for the people of Hemel Hempstead that development of this site will now make progress.
“All the units will be available at affordable rent or for purchase with shared ownership, and we remain determined to raise the quality of the finish that residents can expect from homes available through these initiatives.”