£12.5m homes project at Ferry Road, Felixstowe, set to start

Work is set to start on the construction of 197 new homes on farmland on the edge of Old Felixstowe after a £12.5million deal was concluded to finance the project.Generator Group has been granted planning permission for the development, of which one-third will be affordable homes, in Ferry Road.It has now agreed a revolving debt package with investors Wellesley Group to develop the 11-acre site. The debt package will enable Generator to deliver a mix of one, two, three and four-bedroom houses, and apartments. The company will also build the associated roads, infrastructure, car parking, landscaping and public open spaces.The site borders an Area of Outstanding Natural Beauty, and the developers say it has been designed to complement the natural surroundings, with a tree-lined boulevard at its entrance, extensive landscaping and a buffer of trees along the site boundary.There will be public open space at the centre of the development to create a focal point and will incorporate a children’s play area.Andrew Turnbull, managing director at Wellesley Group, said the company was delighted to be providing the flexibility in the finance needed for the project.