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Major employment initiatives lead to a £76m investment in new homes

Housing and regeneration specialist, Keepmoat, is continuing to expand its activities in the southern part of the North East region, due to high demand for new houses fuelled in part by a rise of employment opportunities in the area, including the recently opened £82m Hitachi train factory at Newton Aycliffe and the newly announced £100m historical leisure park at Auckland Castle near Bishop Auckland, which are both delivering a significant economic boost to the area.

It’s also been announced that later this month the new £38m National Biologics Manufacturing Centre is due to open in Central Park, Darlington. The new premises promise to give companies access to state of the art facilities, equipment and expertise to help develop and commercialise the next generation of biologic products and processes.

This new economic activity has encouraged Keepmoat to deliver three residential projects consisting of a mix of two, three and four bedroom properties which are being constructed following support from Durham County Council, the Homes and Communities Agency and Darlington Borough Council.

The 606 new homes, across three developments in the area; Central Park in Darlington, which is in close proximity to the new Biologics Centre, Bracks Farm in Bishop Auckland on the doorstep of the new historical leisure park and Cobblers Hall in Newton Aycliffe which is ideally located for those in employment at the new Hitachi factory, are set to provide a welcomed housing boost to the area as demand soars for affordable, quality homes due to new employment opportunities.

Ian Prescott, Land and Partnerships Director at Keepmoat, commented: “Durham County Council, Darlington Council along with the Homes and Communities Agency and a variety of partners have stimulated a number of key employment creating projects that are about to give a major boost to economic growth in South Durham and Darlington. At Keepmoat we believe that this jobs growth is already beginning to flow through into demand for new housing in the area.

He continued: “The potential for significant economic growth has over the last year given us the confidence to commit £76m into three new housing projects that will create over 600 new homes in Bishop Auckland, Darlington and Newton Aycliffe. We are also in discussions with both Councils about further new housing schemes in the area that we hope will come to fruition during 2016.”