Slough’s Novus Apartments awarded government’s First Homes grant
Slough Urban Renewal (SUR) – the JV between Slough Borough Council and national urban regeneration firm, Muse Developments – has been awarded £1.5m funding from Homes England’s First Homes scheme on 20 homes at its Novus Apartments scheme. This is the first grant awarded to SUR and only one of two in the whole of the Thames valley.
Novus Apartments is a collection of 64 one and two-bedroom apartments on the former library site, which has been transformed into a new destination in its own right, creating a hub of residential, retail and leisure. Perfectly positioned for the town’s excellent transport links, a new home at Novus Apartments provides the ideal opportunity to capitalise on the huge regeneration, which is already afoot.
First Homes was announced by Homes England with a total of £150m to invest with its pilot scheme and had highlighted Slough in their top 10 areas to invest in. Apartments allocated to the First Homes scheme effectively reduce the market value by 30% to prospective homeowners, which is then topped up by the grant. The scheme is targeted to first-time buyers who live or work in the borough, along with keyworkers or armed forces personnel.
Andy Howell, general manager at Slough Urban Renewal, said: “To receive this important grant funding from Homes England is a ringing endorsement of our product, the wider scheme and importantly our commitment to providing affordable new homes in Slough.
“Through our work, we’re delivering tenure choice, alongside a lifestyle choice, while driving investment into the heart of the town centre. We’re looking forward to being able to using this grant and engaging with a new wave of potential buyers.”