Building work has started on the next phase of homes at a housing development on the former site of a HSBC management training college near St Albans.
Linden Homes has already completed 33 of the 55 properties in phase one at Hanstead Park, a collection of houses and apartments being built off Smug Oak Lane in Bricket Wood.
This latest stage of construction will see a further 74 homes delivered on the 40-acre site, with the first property already completed on phase two.
The development, a joint venture with Wates Developments, will eventually comprise 129 homes, including 107 properties for private sale and 22 affordable homes for rent or shared ownership.
Jason Colmer, sales and marketing director at Linden Homes Eastern, said: “The first phase of homes at Hanstead Park has proved very popular among local buyers and people moving into the area, so we are pleased to be able to continue our work on the site.
“A wide range of homebuyers have moved onto this high-quality development and are already helping to create a thriving new community with a friendly atmosphere in this extremely desirable location.”
As part of the planning agreement for the development, Linden Homes – part of Vistry Group – is providing funding of around £1.68 million for local services and infrastructure.
Contributions will include £446,880 to fund a six-day-a-week bus service on the site for five years, £175,000 for highway works and almost £200,000 for landscaping, restoring a running track and updating equipment in a children’s play area.
The developer is also providing £136,416 for local education, £8,008 for youth facilities and £27,465 for a library service.
Jason said: “What makes Hanstead Park so special is the idyllic rural setting. The development is at the centre of a beautiful open green space with three man-made lakes on the site. It gives people the chance to escape the hustle and bustle and noise of modern life and come home to the peace and quiet of the countryside.
“There is an awful lot of interest in this development and we expect that demand to increase as a further selection of properties are released onto the market in the coming months.”
Hanstead Park was formerly a country estate built by Sir David Yule, a jute and cotton mill owner who made his fortune in India and was, at the time of his death in 1928, reputed to be the richest man in Britain.
HSBC used the estate as its principal training centre after taking over the site in 1993 but moved out in 2011.
A selection of two-bedroom apartments and three and four-bedroom houses are currently available at Hanstead Park.
For more information call Hanstead Park on 01727 701712.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.