Housing Site

Swinburne Maddison LLP helps in housing sites deal


Swinburne Maddison LLP has completed a triple site acquisition on behalf of Prince Bishops Homes Ltd, a wholly-owned subsidiary of Derwentside Homes Ltd. All three sites, located in the Stanley area, were acquired in one transaction from Durham County Council and will be used for new housing development.

The deal, which will see the construction of 59 two-bed bungalows and eight three-bed houses worth around £8m, was completed in speedy fashion to comply with the requirements of the Homes & Communities Agency’s Affordable Homes Programme, which will form part of the funding package at one of the sites.

Known as Eastfields, Humber Hill and Chaucer Close, the 12-month construction programme will begin in June.

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