Builder Hill has signed a strategic 50:50 joint venture (JV) agreement with Marshall Group Properties for a new residential development Wing in Cambridge, UK.
The Wing project includes a total of 1,300 homes, of which the first phase includes 450 new homes on a 160-acre land owned by Marshall Group.
Set to be developed by Hill, the first phase will deliver 315 private homes and 135 affordable homes, comprising shared ownership and rent tenures.
Hill chief executive Andy Hill said: “Having developed over 1000 homes in Cambridge over the last five years alone, we take great pride in being able to provide a variety of homes for a range of people.
“[We] hope that it marks the start of a successful long-term relationship between two like-minded family firms committed to making Cambridge one of the best cities to live in the UK.”
Designed by Pollard Thomas Edwards Architects, the new project includes one, two and three bedroom apartments, as well as two, three, four and five bedroom houses.
In addition to homes, Wing will provide a primary school, nursery, sports pitches, tennis courts, retail and commercial space, alongside new transport infrastructure and upgrade of adjacent Newmarket Road.
Marshall Group Cambridge chief executive Robert Marshall said: “Both Marshall and Hill are well aligned in respect of values, ethics and focusing on delivering excellent customer service.”
The firm expects to start construction on Wing in April 2019, launch sales in late 2019, and complete the first homes by 2020.
Image: Officials of Hill and Marshall Group Properties. Photo: courtesy of Hill.