Go-ahead for 125 homes on former bicycle factory

A £41m housing development will replace the former Raleigh headquarters in Nottinghamshire, after planners signed off detailed proposals for the scheme.

Work will begin this month on the 13.3-acre development, set to be built by Sheffield-based developer Honey on the former bicycle factory site off Church Street in Eastwood, with 10% of the scheme allocated as affordable housing.

Raleigh announced its intention to quit its Eastwood manufacturing site in 2023, eventually upping-sticks for a downsized headquarters building elsewhere in Eastwood in August 2024.

Outline planning permission for the houses granted by Broxtowe council in January, with Honey exchanging contracts on the purchase of the site later that month.

The first homes are expected to be released for sale in January 2026, with Honey anticipating that the first residents will move in during the summer.

Since being launched in October 2022, Sheffield and Leeds-based Honey has secured 24 sites that will deliver 3,163 homes with a combined gross development value of £917m.

The housebuilder is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV, which has £937m of fully committed capital.

“Our development will once again turn the site into a vibrant part of town and give local buyers the opportunity to own one of our thoughtfully designed homes,” said Honey chief executive, Mark Mitchell.

“Raleigh will meet the strong demand for high specification new homes in Eastwood and we have already seen a positive response since first announcing our plans for the site.

“With planning now granted, we’re excited to start work and deliver new homes which combined style, substance and sustainability for buyers looking to move in or to Eastwood.”