Aviva Investors, the global asset management business of Aviva plc, announces it has agreed to forward fund the creation of 101 single-family homes in Cambridge, continuing its development partnership with Packaged Living, the UK’s leading sustainable living specialist.
The homes, which will be delivered by Barratt Homes, the country’s largest housebuilder, will form part of the Franklin Gardens community within the wider Darwin Green masterplan. Situated on the northwestern edge of Cambridge, Darwin Green is expected to deliver more than 1,500 homes when complete, alongside a primary school, health centre, a supermarket, sports facilities, as well as community spaces and parks.
Spread across two-, three- and four-bedroom houses, as well as two-bed apartments, the 101 new homes are expected to provide over 105,000 square feet of housing. Working with Barratt Homes, Aviva Investors and Packaged Living have specified that the new homes are built to be fully-electric, making use of air-source heat pump systems instead of traditional gas boilers. The development will also feature electric vehicle charging for every home, photovoltaic panels and battery storage to help support ongoing energy needs and target an EPC ‘A’ rating.
The funding is the ninth investment made into the UK single family housing market by Aviva Investors and Packaged Living since launching their build-to-rent platform in 2021. The Partnership has now funded the creation of over 1,200 new homes across the country. It also represents the third investment by Aviva Investors’ Real Estate Active Long Term Asset Fund (‘REALTAF’) following its launch in May 2023, with the fund now having supported the creation of more than 430 new homes.
Situated on the outskirts of Cambridge, Franklin Gardens provides access to the Greater Cambridge region, as well as offering connectivity to Peterborough, Stevenage and London.
Source: Press release sent 15 July 2024