An exciting project that will contribute towards the ongoing regeneration and renewal of the Newport area is underway in the Isle of Wight.
The prestigious Pan Development Project will see Barratt redevelop an 18.8-hectare site to the north of the Island. The Isle of Wight Council and their partner Western Challenge Housing Association aim to market Pan as a united community in which people can live, work and invest for the future.
Located on the south and eastern fringe of the existing Pan estate, the site is within half a mile of the town centre. The western fringe of the extension is served by Furlongs (an adopted estate road that runs from Staplers Road to St. George’s Way)whilst travel to and from the island is made easy by up to 350 ferry crossings per day from several terminals.
It is hoped that the development will provide affordable housing to local people, attract significant inward investment for the Island’s local economy and promote sustainable technology.
In total, 846 housing units will be created, 254 of which will be affordable homes. Interestingly, the homes will be powered by an environmentally friendly and energy efficient biomass plant that burns woodchip primarily sourced from the Island.
Another element of the project is a new 10-hectare country park, which will include a ranger station and a visitor centre. There will also be new recreation areas and play areas, new local recycling centres and improvements made to highways and local schools.
The scheme has released over £11 million from the Homes and Community Agency (HCA) and has generated a financial contribution of nearly £6m from the planning agreement with Barratt. In addition, the project has brought £10 million of inward investment from Spectrum Housing Group, a member of Source Development Partnership.
Councillor Dawn Cousins said:
“In what are difficult economic conditions I am delighted that work on this long-awaited scheme can now start. This development will bring so many benefits to the Island, its residents and its economy.
“This development serves as evidence that the council is taking a lead in addressing some of the issues of major concern to the residents, such as the provision of affordable housing to local people, stimulating the Island’s economy and leading by example when it comes to sustainable development.
“Just as we have shown with the Highways PFI, this council is very capable of progressing major schemes. By applying for planning permission ourselves and because of the way the work will be structured, the council will be able to ensure the houses are built to the very highest standards. The existing Pan community has helped to shape the nature of this development and I am sure they too will welcome this progress.”
Kevin Bourner, Head of Area at the HCA, said: “We are delighted that we have been able to help unlock this key site and we’re looking forward to working with Isle of Wight Council, Spectrum and Barratt in developing high quality and sustainable new homes for the Isle of Wight community.”
James Partner from Knight Frank handled the sale. He commented:
“Barratt has been selected as the development partner for the scheme and it is hoped that their strong track record and supply chain on the Island will deliver this important scheme for the Isle of Wight, whilst maximising the use of local suppliers and the local workforce.
“This deal represents the culmination of months of very hard work by the Council, its partners and advisers to secure land value, an exemplary residential scheme and much needed affordable housing on the Island.”
Ian Wallace, Managing Director of Barratt Southampton, added:
“Our commitment to not only bringing vital quality housing to the Island but also creating environmentally friendly lifestyles is of paramount importance. The green credentials of this development, teamed with high specification homes, demonstrate that Barratt is building homes for the future.
“The Pan development will see us on site for several years, resulting in not only Barratt employing many Islanders directly, but also working with local suppliers to deliver this fantastic scheme. We will also be offering a Barratt Academy to train apprentices in the construction and assist in building their futures.”