First time homebuyer news: Council sells land to build affordable homes

24-May-2006

Swindon Council is set to sell land with a value of £275,000 in order to build a number of affordable homes, according to latest reports.

The 0.4-Hectare site in Walcot is expected to be transformed into ten two-bedroom bungalows that will be for rent, as well as affordable homes for the elderly, reports the website This is Wiltshire.

It is thought that although the land is worth £275,000 it may be sold for less than £225,000 to cover the cost of demolishing ten empty garages to make more room.

The council predicts that the sale of the land will attract investment of around £400,000 for affordable housing and a further £989,000 of loans through the housing association.

"This development will assist Swindon Council meeting the target of 300 affordable homes per annum," the report states.

"The provision of affordable homes not only provides those in serious housing need, often homeless, with good quality accommodation, but also allows households a settled way of life," it concludes.

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