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Cornwall unveils £82m Supported Housing Scheme to national contractors at UKREiiF

Stand L20, Royal Armouries Hall @ UKREiiF

Senior representatives from Cornwall Council, Cornwall Trade and Investment and Treveth will be attending the UK’s Real Estate Investment & Infrastructure Forum (UKREiiF) to announce a number of significant development opportunities to build sustainable communities in the region.

Procurement pipeline project research carried out by Inner Circle Consulting, has qualified eight important development projects in Cornwall, which equate to a £10.6 billion forecast capital spend in the next ten years. This figure includes £3.4bn on Housing, and these opportunities will be showcased at UKREiiF to encourage national contractors to expand their operations to Cornwall and be part of the delivery of a variety of homes at the tenure and price to meet the needs of Cornwall’s communities.

Cornwall is currently developing housing stock faster than the rest of the UK, delivering more new homes in the last decade than Birmingham, Manchester, Leeds and Liverpool. With a long-term pipeline of housing, commercial and infrastructure development, Cornwall Council is already on track to deliver an ambitious target of 52,500 new homes by 2030, supported by its own B Corp certified property development company Treveth. 

Committed to carbon neutrality and creating sustainable, more inclusive and prosperous communities a first of its kind, Cornwall Supported Housing scheme, to deliver 48,000 new and improved supported housing units across Cornwall by 2050 and valued at c.£82m over 5 years, is one of the key opportunities Cornwall is hoping will be of interest to delegates attending the UKREiiF Conference.

Councillor Olly Monk, Portfolio Holder for Planning and Housing says,

“Cornwall Council recognises that heavy investment in housing will ensure we can accommodate a growing population, support our vulnerable people and attract the specialist skills needed to drive economic growth.

“We’re excited to be attending UKREiiF and meeting with investors and potential partners that can be on board with realising our ambitions to create new communities with a real legacy.”

In response to the changing nature of Cornwall’s population, including an anticipated rise of 257% to the over-90 cohort by 2050, the Council is creating a framework in 2024 for investors, developers and providers to deliver extra care and care homes, and making an initial five sites available from its own lands, with more expected to be added.

Significant opportunities to develop infrastructure, supported accommodation for vulnerable young people and new accessible homes equate to an overall contract revenue for services estimated at £75m by 2033.   This includes:

Demand for housing in Cornwall is outstripping supply and building genuinely affordable housing that meets the local need is a priority for Cornwall Council. By using its own B Corp certified property development company Treveth, Cornwall Council is proactively bringing forward a £300m project to deliver a pioneering net zero carbon community at Langarth Garden Village. Billed as a world-class flagship scheme, Langarth offers another impressive pipeline of development opportunity for investors, with master plan consent for 3,800 eco-friendly homes, 35% of which will be affordable.  The award-winning, £230m, Council-led

Pydar Street regeneration project in the heart of Truro will also be presented to UKREiiF delegates. The pioneering scheme, managed by Treveth, transforms brownfield land to bring forward 360 homes, of which 139 are affordable, to create new multi-generational living neighbourhood.

Investors and potential partners are being invited to visit the Cornwall Stand on Wednesday 22 May between 3-3.45pm to meet the team and hear more in detail about the scale of construction opportunities in the region.

Councillor Olly Monk continues,

“We’re providing hard figures based on genuine opportunities, backed up by independent research to demonstrate that we mean business.

“We are looking forward to meeting with contractors, consultants and supply chains to encourage their expansion of operations to Cornwall and help us deliver our ambitious plans in driving economic growth to the region.”

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