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May 22, 2017

FAH exchanged on Forward Funding of 80 one-bedroom specialist, Extra Care apartments in Northampton

Funding Affordable Homes has exchanged on a Forward Funding Agreement with HB Villages Limited for the acquisition of eighty one-bedroom, new build specialist apartments (Extra Care) in Northampton. The project has a new 20-year full repairing and insuring lease between FAH and Plexus UK (First Project) Housing Association, part of the Mears Group plc. Planning permission approval with a signed Section 106 Agreement has been granted and the projected legal completion and start on site date is mid-June 2017, with a target completion date of September 2018. HB Villages Development Limited will undertake the project and at practical completion deliver the property to the housing association Plexus UK (First Project). The proposed scheme is aligned with the Northamptonshire County Council Social Care Accommodation Strategy for Older People 2016-2021.

For further information please contact:

Tayo Bilewu – 020 7495 7070