Barley Homes plans to grow new homes for West Suffolk

11 Dec 2024

Barley Homes Limited, which has created £2.1 million of income for West Suffolk Council has published its latest business plan.

West Suffolk Council Cabinet heard about the plans which will see work begin in the New Year on a new site in the district and ambitions to build a higher performing portfolio.

Barley Homes Ltd is the council’s wholly owned Housing Company and has successfully delivered a total of 63 homes and £2.1 million of income which is used to help support services.

Not only does the company provide income it helps the council deliver on its strategic priority of affordable, available and decent homes. In addition, the new plan will help make a reality the recently published Housing, Homelessness Reduction and Rough Sleeping Strategy.

The Cabinet also heard how the company is facing the same pressures that other developers and builders are facing nationally and globally and has restructured its plan to meet these challenges.

Since finishing its last developments Barley Home Ltd’s focus has been in the securing of land and preparation for development of a number of pipeline sites, including the next development at Rougham starting next year.

Plans also include working with a local registered provider on the College Heath Road site in Mildenhall in delivering a scheme that will help address local housing.
The Development Brief for the Triangle Site in Great Barton has also been submitted and approved.

To provide certainty the housing developments and financial performance included in the business plan are where there is a high degree of deliverability.

Overall, to add to the 63 homes it has already built, Barley Homes Ltd through this business plan will be facilitating the delivery of 13 homes (with planning permission) on sites it currently owns, with a further 80 homes at planning submission stage and 145 at a pre-planning stage. 

Although not all may come to fruition, multiple sites large enough for 156 homes are being explored as part of an ‘opportunities pipeline’.

This ongoing viable development pipeline enables Barley Homes to continue to utilise the agreed £14.25 million investment fund which then provides financial returns to the council through loan interest receipts and dividend payments following house sales.

Cllr Richard O’Driscoll, Cabinet Member for Housing for West Suffolk Council, said: “Barley Homes Limited is a part of the wider jigsaw of how we provide affordable, available and decent homes. It plays a vital role in helping build homes, and as in Haverhill rejuvenate plots that had been an eyesore before. It also brings millions of pounds of income for the Council to support services and will help deliver our new Housing, Homelessness Reduction and Rough Sleeping Strategy. The challenges and down turn in building is a national problem and Barley Homes is planning accordingly making sure not only are we clear and confident on what we can deliver but working on a pipeline of other projects and on ambitions for building a higher performing development portfolio. Finding the land, getting the necessary permissions, building and then selling the homes all takes time which is why there are times when the company may not be building and will make its income as houses are sold. This is all included in the business plan and as opportunities arise they will be included.”

West Suffolk Cabinet met tonight, 10 December.
 

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