Plans unveiled for 300-home scheme in Downham Market
A Birmingham-based developer, Prosperity Homes, has unveiled plans to develop a 300-home scheme at Downham Market in west Norfolk on land acquired from a private firm, Koto Ltd.
Outline planning has been granted for the 30-acre Broad Oaks scheme, which includes 60 affordable homes and where a reserved matters application was submitted last week.
Joe Billingham, CEO of the Prosperity Group, said moving into the residential market for owner-occupiers was the natural next step for the business, which specialises in buy-to-let flats.
Mr Billingham said: “As our largest housing project to date, we are excited to see our ambitious plans coming together.
"The East of England has a significant housing demand and Broad Oaks will bring the number of affordable homes we will have provided in England up to 150.
"We are continually looking for opportunities to develop more affordable homes.”
Funding partner Property Investment Partnership has provided a £16 million funding package to develop Broad Oaks.