14th November 2018
Final phase of homes at city development to go on sale this weekend
A city centre housing development will open its doors to visitors this weekend as the final phase of homes is released for sale.
Chestnut Homes previously built 79 homes at LN6 on land off Westbrooke Road in Lincoln. A further 52 homes are now under construction at the development, which includes part of the former Usher School site. The homes range from two-bedroom apartments to two and three-bedroom houses.
Chestnut Homes Managing Director, David Newton, said: “LN6 has become a thriving community, where many first-time buyers have taken their first steps on the property ladder.
“We are proud to have created an award-winning development which has helped to meet the need for two and three-bedroom homes in the city.
“For a high proportion of our purchasers at LN6, Help to Buy has made it possible for them to own a home. We will continue to offer the government-backed scheme within the new phase.”
With Help to Buy, purchasers can secure a new home with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is provided as an equity loan, which is interest-free for five years.
Chestnut Homes will pay £83,000 to Lincoln City Council through the Community Infrastructure Levy as part of its planning agreement for the 52 homes. The company will contribute £67,000 to enhance open spaces in the city and 25 per cent of the homes at LN6 will be designated as affordable.
Work started at LN6 in 2015. The first 79 homes were all completed and occupied by summer 2018. Around the same time, Chestnut Homes secured planning permission for the additional 52 homes.
LN6 was named as Residential Development of the Year at the Lincolnshire Construction and Property Awards 2017. The development has generated investment in the local community, including funds raised to support nearby Boultham Park.
The showhome at LN6 will be open daily from Saturday (November 20th) between 10.30am and 5.30pmBack To News