Ellisons acted for Colne, the Essex-based housing association, in connection with their acquisition of residential homes at the 300-home development by Bellway Homes Limited (“Bellway”) on the former factory site of Marconi in Chelmsford. The Marconi factory site was the birthplace of radio. Bellway have constructed homes for private sale alongside 119 homes acquired by Colne for rent to residents on the housing register or those wishing to part-buy part-rent.
Colne’s properties comprise 26 shared ownership apartments and 93 houses and flats at affordable rent. The shared ownership apartments have been branded as “The Switch” and offers a fantastic, affordable opportunity to start buying a brand new apartment, within the prestigious Marconi development, situated in the heart of city centre.
Philip Roberts, Ellisons lead partner on this project commented:
“Ellisons have acted for Colne since Colne’s inception and were delighted to work with Colne and Iceni on one of their most exciting and challenging projects. Due to the nature of the transaction and the time frames involved Ellisons worked closely with Colne, Iceni and Bellway on a multitude of legal documentation including contracts, leases, charges, build agreements, pre-emption contracts. It was great to be able to play a small part in ensuring these needed shared ownership and affordable rented homes would be available”
Phillip Murton, of Iceni Homes who managed the development for Colne, said:
“This was a complex project to provide new affordable homes for people in Chelmsford and the expert advice received from Ellisons was key to making the project a success.”
In April 2015, some residents moved in to the first phase of ten shared ownership apartments at the Switch.
A further 92 properties are due to be handed over in 2016/7 when there will be a grand opening event where partners and residents will be invited.