Keon starts on over-55’s scheme following WMCA backing

Work has now begun on a retirement development in Warwickshire, after the combined authority stumped up £660,000 to clean up the site where a historic former pub once stood.

Keon Homes is building out a scheme of 42 retirement homes near Bedworth on behalf of housing association Midland Heart following the investment from WMCA’s brownfield regeneration fund.

Planning permission for the scheme on the site of the former New Inn pub was originally granted in 2019, with an amended scheme approved last year.

The original pub building had stood for more than 100 years, but was closed in 2016 and subsequently demolished.

“For too many years, there hasn’t been nearly enough investment in social and affordable housing, which has left us with an acute shortage of safe, warm homes that older and more vulnerable people can afford,” said West Midlands Mayor, Richard Parker.

“We need to fix the mistakes of the past by rebuilding our affordable housing stock and we’re doing that through schemes like this one at Bulkington.

“It will provide genuinely affordable homes for older people, breathe new life into a derelict site, and create valuable jobs for local people. This is about rebuilding communities and giving people places they can feel connected to and proud of.”

Access to the WMCA funding was provided by the property team at Frontier Development Capital, which works closely with property developers to arrange investments from the WMCA’s regeneration funds.

Joe Reeves, deputy chief executive of Midland Heart, added: “This is exactly the kind of development we need to see more of, a disused site brought back into use to provide high-quality, affordable homes for older people in the heart of the community.

“At Midland Heart, we’re committed to building 2,750 new homes across the Midlands over the next five years, and developments like this help ensure more people can stay close to the communities they call home.”