Hill and Marshall Group Properties join forces for joint venture in Cambridge
Housebuilder Hill and Marshall Group Properties announced that they have entered into a strategic 50:50 joint venture agreement with Marshall Group Properties, part of the Marshall Group, to deliver 450 new homes in Cambridge.
The new development, Wing, will sit on a 160 acre parcel of land owned by the Marshall Group and is the business’ first major residential development project. With a masterplan that allows for a total of 1,300 homes, the first phase of the development will be delivered by Hill and when complete, will comprise 315 private homes and 135 affordable homes – including shared ownership and affordable rent tenures.
The new homes have been designed by the award-winning team at Pollard Thomas Edwards Architects, and will comprise of a range of properties including 1, 2 and 3 bedroom apartments and 2, 3, 4 and 5 bedroom houses.
Overall, the Wing project has received outline planning permission for up to 1,300 new homes and includes community facilities such as a new primary school, nursery, sports pitches, tennis courts, and retail and commercial space. Wing will also deliver new transport infrastructure and the nearby Newmarket Road will be upgraded.
Chief Executive, Andy Hill, commented:
“We have established firm roots in Cambridge and have long been committed to delivering more homes to this great city as it continues to thrive and grow. Having developed over 1000 homes in Cambridge over the last 5 years alone, we take great pride in being able to provide a variety of homes for a range of people. We are therefore thrilled to be partnering with Marshall on this development and 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.”
Robert Marshall, Chief Executive of Marshall of Cambridge commented:
“We are delighted to be partnering with Hill for the first phase of the Wing development. Both Marshall and Hill are well aligned in respect of values, ethics and focussing on delivering excellent customer service. Together, we look forward to delivering an outstanding community on Cambridge’s eastern perimeter.”
We anticipate starting on site in April 2019, with sales at Wing expected to launch in late 2019 and the first homes completed in summer 2020.