Bovis Homes announces Joint Venture with Metropolitan Thames Valley to build 783 homes

| 19 December 2019

Summary: MTVH partners with Bovis Homes to deliver affordable homes in Cambourne West

Bovis Homes, the FTSE 250 listed housebuilder, has announced a new Joint Venture with Metropolitan Thames Valley (MTVH) to build 783 homes on a £240m development, Cambourne West, near Cambridge.

The development will be made up of 70% private units, which range from one to five-bedroom homes from the company’s new Phoenix range, and 30% affordable housing. The 235 affordable homes will be comprised of affordable rent and shared ownership.

Bovis Homes and MTVH will also provide a number of facilities to support the local community. As part of its section 106 financial contributions, it will contribute almost £40m towards education, including the expansion of the Ofsted rated ‘Outstanding’ secondary school and two new primary schools. Bovis is also contributing £9.5m to a City Deal, including highway improvements, all within a landscape led, sustainable environment.

Building at the site is expected to begin in February 2020. Also nearby is the Bovis Homes and Taylor Wimpey Cambourne location made up of c. 4,000 homes, built between 2008 and 2018, and now an established community.

John Lougher, Strategic Land Managing Director at Bovis Homes, said: “We are delighted to announce the joint venture with MTVH to deliver much-needed homes in the area and look forward to working closely with them. Local house hunters, whether they are looking at the private market or through a well-respected affordable housing provider, will benefit from a wide range of stunning homes within a popular, easy-to-reach location.

“The range of housing on offer – from one-bed apartments to five-bed houses – means the development will appeal to a wide range of people at different stages of their lives, creating a real sense of community.

“Building by the established new settlement of Cambourne, the area will become a flagship development over the next decade, demonstrating our commitment to housebuilding across the region while also boosting investment and jobs in the area.”

Richard Evans, Development Director – Innovations & Partnerships, MTVH added: “We’re really pleased to be partnering with Bovis to deliver homes at Cambourne West, as we continue MTVH’s commitment to delivering excellent quality housing and services in Cambridgeshire. MTVH is about more than building homes, we also build and invest in people and communities for the long term too. This new joint venture with Bovis gives us a fantastic opportunity to do this at scale, ultimately helping more people.”