Work begins on 'landmark' £8m housing complex

Daily Echo: Ian Cooke, left, of NatWest with Angus Cook, managing director of Bargate Homes. Ian Cooke, left, of NatWest with Angus Cook, managing director of Bargate Homes.

WORK is under way on an £8m housing complex in Hampshire.

Last year city councillors approved plans for 14 homes at the former Peugeot garage on St Cross Road, in Winchester.

At the time former housing boss, Cllr Ian Tait, welcomed the development as a “landmark” building for the city.

The Bargate Homes project is due for completion by summer 2015 and was funded in part by a loan from NatWest.

Managing director of Bargate Homes, Angus Cook, approached Ian Cooke of NatWest for assistance with funding and agreed on a property development loan of £4.7m.

The 2,700 sq m site previously comprised several commercial premises, including a Peugeot garage and a furniture store.

It also includes a former 19th century coach house which will be converted into two family homes, while a new four-storey building will provide nine flats, alongside a newly-built terrace of three four-bedroom houses.

Planning officers argued that demolition of commercial buildings in favour of new homes would clash with council policy, but in July councillors voted the application through.

Mr Cook said: “Ian at NatWest has been extremely supportive and, through what have been fairly horrific times for the property industry, the bank has continued to support us.”

Mr Cooke, a relationship director at the bank, said: “Bargate has gone from strength to strength and as well as building beautiful homes, the company has created local jobs and will make a significant contribution to the local economy. We’re delighted to have supported this project.”

Comments (2)

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4:51pm Tue 21 Jan 14

sotonboy84 says...

Council policy should be that if the land is used for housing in favour of commercial use, the homes, or some, should be available for rent by local people. Judging by the 'part' loan of £4.7m, split this by the 14 homes and it's already £335k each. Add the rest of the building cost, along with the profit and one thing this development isn't is any benefit to local people. Many people have made a fortune in the London property market and are moving to places such as Winchester which increases demand and increases house prices and makes house buying unaffordable for the majority and the effect is local people and families are priced out of their homes. Council's need to do more to protect towns and cities and do more to help local people.
Council policy should be that if the land is used for housing in favour of commercial use, the homes, or some, should be available for rent by local people. Judging by the 'part' loan of £4.7m, split this by the 14 homes and it's already £335k each. Add the rest of the building cost, along with the profit and one thing this development isn't is any benefit to local people. Many people have made a fortune in the London property market and are moving to places such as Winchester which increases demand and increases house prices and makes house buying unaffordable for the majority and the effect is local people and families are priced out of their homes. Council's need to do more to protect towns and cities and do more to help local people. sotonboy84
  • Score: 1

8:55pm Tue 21 Jan 14

03alpe01 says...

Ah another improper use of the word 'landmark'. You'd think they were building the Eiffel Tower or the Statue of Liberty or something...
Ah another improper use of the word 'landmark'. You'd think they were building the Eiffel Tower or the Statue of Liberty or something... 03alpe01
  • Score: 1

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