Dozens of new homes are to be built in Pershore thanks to a multi-million pound loan from a real estate investor.
A total of 75 houses will be built, with 45 for private sale and another 30 earmarked as affordable property.
This comes following a £16.5 million loan from Octopus Real Estate which is to be used for a ground up development of over 120 homes, with another 46 being built in Cambridgeshire.
Andy Scott, head of residential development at Octopus, has said that the development will seek to be as sustainable as possible.
He said: “The UK has a chronic undersupply of sustainable homes, and within the industry we have a duty to work together to develop more energy-efficient housing. At Octopus, we recognise the importance of thinking outside the box when it comes to building homes for future generations.
“This latest development is a great example of our wider mission at Octopus to invest in assets which will deliver real impact to people and the planet. The completed houses are designed to be EPC Rated A, fitting perfectly into our strategy of supporting the building of more sustainable homes.”
Last year, Octopus announced a partnership with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance.
The Alliance will see £175 million go towards developing more high quality, energy efficient homes throughout the country.
The developer of the Pershore site, WElink Homes, is said to use modern methods of construction (MMC).
The company says that the use of off-site manufacturing technology will speed up the build time of the development and create less waste during the construction process.
David Ritchie, CEO of WElink Homes, said: “At WElink Homes, our goal is to redefine the building of new homes; creating living spaces that perform for people, embrace new technology and are delivered at pace.
“These sites in Witchford and Pershore, as with all our developments, will benefit from high-quality design and architecture, leading energy performance and manufacturing excellence; with incredibly high levels of quality and precision thanks to our innovative MMC delivery model.
“I’m delighted that Octopus has funding that enables us to finance developments like these. Our homes, as well as the processes we use for delivering our homes, have been carefully designed to reduce energy demand and address affordability for homeowners, so Octopus was the natural choice for us thanks to its B Corp status and strong focus on sustainability.”
The new properties will go up for sale in Spring.