Homes by Carlton and Karbon in County Durham JV
Regional firm Homes by Carlton has acquired land for 48 houses in Staindrop, to be delivered in partnership with Karbon Homes’ joint venture funding arm Next Level Developments.
The Woodberry Park scheme will comprise a mix of three, four and five-bedroom detached and semi-detached homes. Construction is due to start on-site later this year.
This follows two recent land deal successes for Homes by Carlton – the acquisition of land for 148 homes at Middleton Waters site in Middleton St George, and a new 29-unit scheme at Beauford Park, Witton Gilbert.
The scheme is in partnership with Karbon Homes’ Next Level Developments, who will be providing the full funding package for the development.
Simon Walker, managing director of Homes by Carlton, said: “We’re delighted that Next Level Developments have provided a Joint Venture funding facility which will allow Homes by Carlton to deliver what is set to be a beautiful development of three to five-bedroom homes in popular Staindrop.
“I believe this funding structure is an excellent example of an innovative approach to enabling regional housebuilders such as Homes by Carlton to deliver high quality homes throughout the region, providing prospective home buyers with more choice.”
Sarah Robson, director of development at Karbon Homes, said: “Through Next Level Developments, Karbon Homes’s Joint Venture funding arm, we are committed to supporting regional housebuilders in the development of much-needed new homes.
“The returns from this then support Karbon Homes’s continued investment in our affordable homes programme.
“We’re pleased to be the funding partner for Homes by Carlton on Woodberry Park, a fantastic selection of homes designed to meet the needs of the local area.”
Woodberry Park represents a £10m investment and forms part of a £60m North East programme for Homes by Carlton.
Emma Worth, development manager at Homes by Carlton, said: “It’s fantastic to have acquired land for another development in such a sought-after location in the region.
“Staindrop is a beautiful village which provides the perfect balance between peaceful, rural living and closeness to larger towns and cities.
“We have witnessed strong demand for our homes at our existing developments across the Tees Valley and County Durham – such as Middleton Waters in Middleton St George and Beauford Park in Witton Gilbert – due to their excellent locations and bespoke designs, and I’m confident that Woodberry Park will follow suit.
“As we move through 2024 and beyond, we will deliver our pipeline of 500 new homes and continue to add to it through strategic land acquisition.”
