A £70.5 million agreement has been reached for the sale of 139 homes at Springstead Village in Cambridge, in a deal between Bellway Latimer and Aberdeen Group.

The homes, which include a mix of houses and apartments for the private rental market, are set to be delivered over the next two-and-a-half years. Construction will be carried out by Bellway Latimer, with the first properties expected to be handed over this summer.

Springstead Village is a major new development transforming a 138-acre former Cambridge Airport site in Cherry Hinton into a community of 1,200 homes. The scheme is a joint venture between national housebuilder Bellway and Latimer, the development arm of Clarion Housing Group.

The site already features parkland, cycleways, a community centre and public art inspired by nature, with around 160 homes, both private and affordable, now occupied.

Further development is planned, including a local centre with community, retail and leisure facilities set to begin construction later this year. Additional green spaces and allotments will be introduced as the project progresses, alongside land allocated for both a primary and secondary school.

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Phil Standen, Managing Director for joint venture partner Bellway Essex, said: "Springstead Village is a landmark development for Cambridge which is raising standards for design, build and sustainability.

"Bellway Latimer has worked closely with the community and with the local authorities, forging collaborative relationships which have helped to establish this thriving new neighbourhood.

"Cambridge is a cosmopolitan city with a vibrant business community, so a wide range of homes are required to suit people's varying requirements and lifestyles. Springstead Village is already delivering 40 per cent of its homes as affordable properties. The deal with Aberdeen will make Bellway Latimer’s low-carbon energy-efficient homes available to people who are seeking high-quality housing in the private rental market."

Richard Cook, Chief Development Officer at Clarion Housing Group, said: "Springstead Village reflects the long-term, place-making approach that sits at the heart of what we do at Latimer, as the development arm of Clarion Housing Group. As the transformation of the former Cambridge Airport site continues, our focus is on creating a well-connected neighbourhood that combines new homes with generous green space and the infrastructure needed to support a growing community over time.

"This agreement underlines the strength of our partnership with Bellway and the confidence in the homes being delivered. By securing long-term investment at Springstead Village, we are helping to support a balanced and sustainable community in Cambridge, while ensuring that the value generated through Latimer’s developments is reinvested into delivering more affordable homes and supporting communities across the country."