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New Devon community investment announced

The creation of the new town of Sherford in Devon has been bolstered by a £32 million injection of funding from the Department of Communities and Local Government (DCLG).

Set to be built over the next 15 years, Sherford near Plymouth is to become a hub of construction activity, with upwards of 5,500 new homes, four new schools, a town hall, sports centre and public park.

This latest investment will bring the total number of new homes unlocked following the chancellor's Autumn Statement announcement of greater support for locally-supported housing projects to more than 41,000 properties.

Mr Prisk commented: "We have set aside considerable funding to assist large housing programmes like Sherford, and over the coming months we will continue looking at other schemes that would benefit from our support - that means more investment, more jobs for our young people and more affordable homes for families across the country."

He added that the government's intervention will help to secure thousands of new employment opportunities in the area, as well as billions of pounds of investment in the local economy.

Further developments in Sherford over the coming years include the provision of 83,000 sq ft of new offices, commercial property spaces and retail units.

The news follows the DCLG's recent announcement that up to 10,000 new rented properties are to be built across the UK as part of the government's £1 billion Rent to Buy Fund.

Up to one-quarter of new developments will be focused on London, with the remainder taking place across all areas of England. Crest Nicholson, Place First, Together Housing Group and Genesis Housing Association are the main contractors for the delivery of the new homes.

Mr Prisk stated at the time: "These new projects will help us map this almost uncharted market, bringing in new blood to improve rental quality and choice." 

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