Inland Homes has agreed to sell 107 apartments in its Drayton Garden Village development to Paradigm Housing Association, and to lease a retail unit to Sainsburys.
The sale to Paradigm is part of a turnkey package including build costs to provide 107 completed units for the sum of £21m.
Sainsbury’s has agreed a 15 year lease to occupy a 4,000 sq ft commercial unit for a “Sainsbury’s Local” at a starting rent of £64,000 per annum.
Stephen Wicks, Chief Executive, Inland Homes, commented: “We are delighted to be working with Paradigm which is a large, well-funded housing association. 66 of the units are for shared ownership with the balance for rent. This is very much in line with our vision to create a new mixed tenure Garden Village.
“It is also a testament to the quality of the environment at Drayton Garden Village that we have been able to attract a retailer of the calibre of Sainsbury to our development.”