Samares site acquisition

4th September 2017

Andium Homes has acquired the site at Samares where 200 new homes will be built.

40 of these homes will be sold on to First Time Buyers under the Andium Homebuy scheme, to those who qualify through Band 5 of the Affordable Housing Gateway. These homes will be discounted by approximately 25% of the market value in order to make them affordable. At current prices, this would see homes being sold in the region of 330K.

Andium Homebuy open days, held in April, saw over 600 islanders attending to register their interest in owning their own home, with over 120 subsequent enquiries being made specifically for the Samares site.

Andium Homes will retain the remaining 160 homes to add to its existing rental portfolio. Plans have been approved and work will commence on site shortly, with the first homes being occupied in 2019.

Ian Gallichan, Chief Executive of Andium Homes, said, "These 200 homes will make a significant contribution to the number of quality affordable homes

available to Islanders to both rent and buy. I had the pleasure of attending the Andium Homebuy events in April and having seen so many families in a position to buy, I am pleased we are able to make this a reality for some of them. We hope to be in a position to help many more over the coming years."

Deputy Anne Pryke, Minister for Housing, said, "Demand for affordable homes to rent and purchase remains high and I am delighted to see Andium Homes delivering another excellent scheme, which will complement the overall programme of work they are doing to provide 1,000 homes by 2020".