Cushman & Wakefield has successfully supported Homes England to secure Treasury approval for investment to unlock the delivery of up to 815 new homes in Panshanger, Welwyn Garden City in Hertfordshire.
This will enable Homes England to acquire c.37 ha of land as well as invest in initial upfront site infrastructure to unlock housing delivery at pace in this area of identified high demand.
Through its appointment to the Agency’s Economics Panel, Cushman & Wakefield led the development of a Full Business Case in conjunction with Homes England which has now been approved by HM Treasury for investment.
Ben Pretty, Partner in Cushman & Wakefield’s Development team leading the firm’s Economic Development & Appraisal offer, said “This is a fantastic outcome for Homes England and demonstrates its commitment to drive housing delivery to meet identified need despite the unprecedented situation we are in. We worked closely with Homes England to deliver a compelling business case to Government for funding and this is a great example of how Homes England is taking a lead role in acquiring land and acting as master developer to unlock housing delivery where there is an evidenced market failure.”
Nick Lambert, Partner at Cushman & Wakefield added: “This is a great example of Cushman & Wakefield supporting Homes England’s drive to actively feed its housing development pipeline. Our appointments to Homes England’s Economics, Property and Multi-Disciplinary Frameworks mean we are well placed to advise Homes England across the life cycle of its investment into strategic housing developments. At Panshanger we are now undertaking the FM management at the site whilst it is vacant.”