Network Rail has been selling surplus land for development where it can for joint venture developments. 聽This is its first venture into modular housing.
The Beeston deal, which has been brokered by property surveyor JLL, will see 40 prefabricated housing units set down on a 2.2-acre site in the Nottinghamshire town.
Ilke Homes, incorporated in 2017, is owned by London private equity firm TDR Capital. It received a 拢30m loan from the government last year to increase the capacity of its factory.
David Biggs, managing director of Network Rail Property, said: 鈥淭he development not only supports the government鈥檚 strategy to accelerate the rollout of modular housing but will also drive local economic growth. What鈥檚 more, all profits generated by Network Rail will be reinvested back into railway.鈥澛�
Ilke Homes director Tom Heathcote said: 鈥淢odular homes represent the future of housing and we believe this residential development will be a shining example of what they can deliver for homeowners, communities and the UK economy.鈥�
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