Radian has formed a significant joint venture with housing developer Thakeham to develop more than 600 new homes in Pease Pottage, West Sussex.
The development will also provide a home for locally based charity St Catherine’s Hospice, a new primary school and a community hub.
The 45 hectare site is located off Parish Lane to the south of Crawley and to the east of the Moto Service Station in Pease Pottage, providing up to 619 homes in total.
The homes are expected to be developed within eight years, the overall development has outline planning permission and detailed planning permission for the first two phases of development already includes the primary school.
Under the agreement, Thakeham, who currently operate throughout the South East, will project manage all elements of the development process, including planning, construction and sales. The joint venture will be split on a 50/50 basis with both parties sharing in the cost of the development of the homes and sharing in the income streams.
Gary Orr, Chief Executive of Radian, said:
“We are very pleased to be working in partnership with Thakeham, a quality independent housebuilder with extensive local experience, to provide a significant number of new homes and community facilities here in Pease Pottage.
“Our two businesses share similar values, putting the customer and community at the heart of what we do. We’ve recently committed to providing 3,500 new homes over the next five years and this joint venture will make a significant contribution to our target.”
Rob Boughton, Group Managing Director at Thakeham, said: “The new partnership between Thakeham and Radian combines the very best skills and expertise of two like-minded organisations. We share a passion for bringing thriving new communities to life and we understand the power of collaboration in helping to deliver something we all really care about.
“We are excited to work with Radian on a wide range of new amenities and homes at Pease Pottage. It’s a wonderful opportunity for bringing our shared vision to life. We want Pease Pottage to be a special place; a place where homeowners want to stay and raise their families, make friends, be part of a thriving community.”