On Monday 19 October, plans to bring hundreds of new homes to Warwick moved one step closer to realisation, with the start of construction works at Beauchamp Park, on land south of Gallows Hill.
To mark the occasion, senior representatives from L&Q, one of the UK’s leading charitable housing associations and residential developers, gathered for a socially distanced ground-breaking ceremony.
Beauchamp Park is a new 450 home development which forms part of the 1,600 home Warwick Gateway urban expansion, which will also provide a community centre, primary school and country park.
Tackling the housing crisis in Warwick
L&Q manages over 105,000 homes, primarily in London and the South East. In response to the housing and affordability crisis, the organisation has identified Warwickshire as a key area for expansion and has been working to bring its inclusive and affordable offer to buyers in the region.
The wider Warwick Gateway expansion is being delivered by L&Q Estates. Formerly known as Gallagher Estates, this Warwick based strategic land business was acquired by L&Q in 2017, becoming L&Q Estates in 2019.
L&Q Estates specialises in acquiring and promoting land for development. After securing outline planning permission for the site on 19 September 2014 the organisation has been delivering key infrastructure and bringing third party housebuilders onto the site to build homes.
The acquisition firmly established L&Q as a major player in efforts to tackle the housing crisis in Warwickshire, combining its record of building and managing successful communities with L&Q Estates’ expertise in place making.
Beauchamp Park is the largest scheme being built by L&Q in the region, joining 60 homes at Birnam Mews in Tiddington – all on L&Q Estates land.
“A unique opportunity”
With average house prices in Warwick estimated at £318,988 , many local first-time buyers have found themselves struggling to get onto the housing ladder. Alongside outright sale, Beauchamp Park will offer homes available for shared ownership, where a buyer can purchase a share of their dream home at a fraction of the cost of a standard deposit.
Craig Luttman, Deputy Group Director of Development and Sales at L&Q said, “The start of works at Beauchamp Park is a proud moment for us – and an important milestone in our expansion into Warwickshire.
“There is strong demand for housing that people can genuinely afford in Warwick, and we’re excited to be bringing our inclusive offer to the town for the first time. The homes we’re building today represent a unique opportunity for many first-time buyers, families and next steppers to purchase their dream home.”
Set within a stunning development, the spacious homes will be larger than standard, with high quality specifications, garden turf and paving included.
Sales will launch in July 2021, with construction on the west of the site expected to be completed in October 2023, and the east in March 2025. Once half of the homes in each phase are occupied, additional new play areas and open spaces will be opened.