Yorkshire-based Mark Oliver Homes has been selected by Bradford city council to build 230 low-cost homes for sale on two derelict sites.
On a 4ha (10 acre) site at Bierley, Mark Oliver beat off competition from Bellway and Lovell by guaranteeing to sell houses at a 25% discount to market value.
The council sold the land at below market value to Mark Oliver, which will sell the homes at under £40,000 for a two-bedroom house and under £60,000 for a four-bedroom house.
“We can do it because we are working in partnership with the local authority,” explains managing director Ian Shiner. “We have no marketing costs because all the units are offered to council tenants and are effectively sold off-plan. If we have got certainty and low risk, we are happy to take lower profits.”
Bradford is the third council to test the Mark Oliver low-cost scheme following successful developments in Kirklees and Sheffield.
Sheffield recently offered the developer two further sites for 150 low-cost homes on completion of the current Mark Oliver scheme in the city.
Shiner is also hoping to sign a deal for over 200 homes with Milton Keynes council later this month.
EGi News 03/09/99
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