English Partnerships (EP) has completed its purchase of the 712-acre former Oakington Barracks in South Cambridgeshire from Defence Estates for almost £100m.
The regeneration agency says that the site’s purchase will unlock the development of the proposed new town of Northstowe, some 5 miles from the centre of Cambridge, which could create up to 10,000 new homes.
It will “contribute to the region’s growth agenda and ease pressure on the Cambridge housing market that currently suffers from a shortage of new and affordable homes.”
EP chairman Margaret Ford said: “This is another significant example of government agencies working together to bring forward surplus land effectively and for the benefit of local communities.
“The land at Oakington will make a significant contribution to Northstowe where a new and sustainable community offering homes, amenities, jobs and open space is planned in an area of housing need.”
DTZ acted for EP.
References: EGi News 27/03/06
