Mortgage & Property Advice Centre for First Time Home Buyers

MoD set to release new homes

28-Jun-2005

Aspiring homeowners in Plymouth could be about to receive a major boost in their efforts to get onto the first rung of the property ladder, it has been revealed.

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Plans are afoot to transform a former Ministry of Defence (MoD) warehouse site into affordable homes, and it is understood that the site will also support an entire community, including shops, offices and a public square.

The Stores Enclave at South Yard in Devonport is to be redeveloped by national regeneration agency, English Partnerships, which has submitted a planning application to Plymouth City council.

At least a quarter of the 500 planned properties will be set aside for affordable homes, and it is anticipated that there will be a clamour for those properties from aspiring homeowners if the development is given the go-ahead.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

Formerly used for warehousing, the site has been in a state of disrepair for many years, but had remained closed to the public for security reasons.

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