PE-backed Hopkins Homes snaps up Essex development site

East Anglia-headquartered housebuilder Hopkins Homes has acquired a 16-acre site in Chelmsford in its first major flagship acquisition since it was acquired by private equity firm Terra Firma in January.Beaulieu Park is located 30 miles from London and a planning application is expected to be submitted in the coming months.A development of approximately 260 homes in a range of styles is envisaged, from one-bedroom apartments through to five-bedroom detached houses.Almost a third of the proposed homes will be affordable housing, made available through shared ownership and social rented schemes. It will also establish a small retail centre at the heart of the community.Lee Barnard, managing director of Hopkins Homes, said: “We are incredibly excited by this site, which gives us the perfect opportunity to deliver the homes we are renowned for beyond our core East Anglian roots.”Our reputation has been built around creating distinction in everything that we do – taking the time and care to build beautiful, high-quality homes that complement their surroundings, creating places that people are proud to call home.”He added: “We are pleased that our new partnership with Terra Firma is allowing us to embed our passion into new and wider areas across our region. Their ongoing support will enable the company to grow from strength to strength.”The Beaulieu masterplan will create a 3,600-home community for Chelmsford .Guy Hands, founder of Terra Firma, added: “The acquisition of Beaulieu Park marks the start of an exciting new chapter and will drive the next phase of success for Hopkins Homes.”We are proud of the Hopkins Homes team for building an enviable reputation by creating outstanding homes and communities that people love to live in. It is this commitment to quality that allows the business to move into new places and expand their success in exciting new areas of operation.”The new development is expected to generate a gross development value (GDV) in excess of £100m.The site was acquired from Countryside Zest, a joint venture between Countryside Partnerships and L&Q, the developer of Beaulieu.