£23m affordable housing deal for ilke Homes

Modular housing manufacturer ilke Homes has signed a £23m deal with Stonewater for a development of 120 factory-built affordable homes.Under the new partnership, ilke Homes will provide land in Hertfordshire for development in addition to manufacturing the 120 new affordable homes for Stonewater at its 250,000 sq ft factory in Knaresborough, North Yorkshire.Supported by Homes England, the currently derelict site, the former Holmer Trading Estate, will be redeveloped to tackle the growing demand for affordable housing in Herefordshire.Upon completion, all the homes will be available for either affordable rent or shared ownership and will be equipped with fully-fitted kitchens, bathrooms and bedrooms.The deal follows ilke Homes’ recent expansion with new offices in London, Birmingham and Bristol, as well as the creation of a new ‘homes and development unit’.Law firm TLT advised Stonewater on the deal.