Working with Bellis Homes, Everlea set up and is 50% owner of the delivery vehicle for the Brook Grove development on Farnham Road. The scheme delivered 35 houses in Bishop's Stortford including 12 affordable homes (affordable rent and shared ownership). Everlea was able to provide early-stage funding to enable land acquisition, and offer advice on tenure/unit mix and site phasing.
B3 Living Limited, Everlea’s parent company, purchased the s106 affordable housing on the site at standard RP-sector prices, improving the scheme cashflow, easing delivery and providing a guaranteed buyer.
Completed in 2021, the project provided Bellis and Everlea with a 50/50 share of the profits.