BRiCS, the SME developer backed by investment manager Omni Partners LLP, has signed contracts with Hanbury Properties to purchase land to develop 18 high-quality lakeside homes with a GDV of around £7.5million. The new homes will form part of a larger new community at Shopwyke Lakes, Chichester.
The homes benefit from an existing detailed planning permission that BRiCS intend to implement, with a mix of private and affordable two, three and four-bedroom homes with outside space, set amongst attractive landscaping. This forms part of the wider 500-home community already well established, which, when complete, will include local shops, play areas, sports facilities and a new community centre.
BRiCS’ Development Director, Hugo Reeve, said: “BRiCS is pleased to secure this purchase, forming the next step of our company growth. As a project that can start construction within months, it provides important ‘flags in the ground’ for us as a rapidly growing SME. It also squarely meets our company purpose of providing attractive and much-needed mixed-tenure homes, within a new community design driven by strong place-making.”
Shopwyke Lakes is located just over a mile from Chichester city centre and is located off the A27 which connects Chichester to Portsmouth and Brighton.
BRiCS was formed in early 2020 to be a forward-thinking developer of new communities of varying tenure, with a focus on design quality and sustainability. The BRiCS directors have over 75 years of experience of delivering complex suburban and urban schemes.
BRiCS has targeted a site start in early 2023 for this Shopwyke Lakes scheme, with the first homes ready by autumn 2023.
