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Crest Nicholson starts £200m Milton Keynes development

27 Sep 12 Crest Nicholson has begun construction of a £200m housing development in Milton Keynes.

Backed by the Homes & Communities Agency (HCA), Crest Nicholson is building 1,100 homes on a mixed-use development at Oakgrove, Milton Keynes.

Outline planning for the Oakgrove scheme was granted in October 2011 and detailed planning for the first phase of 231 dwellings and the new district centre was granted by Milton Keynes Council in March 2012. A comprehensive development agreement between Crest and the HCA as landowner, was signed March in 2012 leading to the start of preparatory works on site earlier in the summer.

Oakgrove will form a new community in a parkland setting adjoining the river Ouzel, with high end retail and restaurant facilities.

First homes will be available for viewing in November but the full development is expected to take eight years to complete. Land will be progressively drawn down in phases from the HCA by Crest Nicholson over this period.

Crest director Chris Tinker said: "Crest Nicholson is delighted to be commencing the delivery of this landmark and much anticipated development at such a critical time in the economic cycle. We would like to pay testimony to the officers and members of Milton Keynes Council who have worked hard with the Crest and HCA project team to bring this scheme forward. I have no doubt that through the jobs created and quality new homes it will both stimulate growth and meet pent-up housing need.”

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MPU

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