New deal between Solum and Bellway to build at Bishop's Stortford Goods Yard
Solum, the partnership developing Bishop's Stortford's Good Yard site, has sold a second residential plot to Bellway.
The deal forms part of phase two of the multi-stage scheme. The housebuilder will construct a further 174 units "of mixed tenure accommodation above ancillary retail".
Phase one includes new link roads through the site and the first of two multi-storey car parks (MSCP), with 401 spaces for public and commuter use.
Bellway is already working on its first plot of 149 units, due for completion in spring 2022, and has sold 66 – in two apartment blocks – to "boutique" buy-to-rent business Kooky in a £20.5m deal.
A new bus interchange is also planned as part of the project to provide a new gateway for the town at the railway station.
The entire regeneration development will provide close to 600 new homes, a new station square, an 85-bed Premier Inn hotel, new retail space, offices, a 55-bed care home and transport enhancements.
Later phases of development, which have outline planning permission, include a second multi-storey car park.
Solum is a joint venture between Network Rail and Kier Property. Boss Tim Shaw said: "It's great that we have made good progress with the regeneration of this important and significant 15-acre town centre site, having now completed the first multi-storey car park and associated road infrastructure upgrades.
"We are pleased to have selected Bellway to work alongside us as residential delivery partner, allowing us to turn towards and accelerate the delivery of the next phase."
Ali Maruf, managing director of Bellway North London, said: "Goods Yard is a key regeneration scheme in Bishop's Stortford and Bellway is proud to be a part of it.
"We are pleased to have confirmed the purchase of a second phase of land from lead developers Solum on which we intend to deliver a further 174 residential properties, creating more job opportunities to support the local economy.
"These homes will be in addition to our first phase of 149 apartments, the first of which are due to be released for sale in March."