We’re pleased to announce that we have formed a new joint venture with Housing Growth Partnership (HGP) to support the delivery of The Paddocks, our upcoming development in Trispen, Cornwall.

The partnership marks an important step for Legacy Properties as we continue to grow responsibly across Cornwall, enabling us to deliver 80 new homes in a village where there is a clear local housing need.

The development is being supported by £2.5 million of equity investment from HGP, alongside a £20 million loan from Pluto Finance, which is providing senior debt funding for the scheme. For HGP, the Lloyds Banking Group and Homes England-backed investor, its investment is the first by its recently-opened South West office.

Named by pupils at St Erme with Trispen Community Primary School late last year, The Paddocks will provide a thoughtfully designed mix of 53 open-market homes and 27 affordable homes. The affordable homes will be delivered in partnership with a Registered Provider, to be announced in due course.

Alex Maltby, Investment Director at HGP, said: “We have chosen a fantastic partner in Legacy Properties for the recently-established team’s first investment in the South West. The transaction extends our UK footprint into a region where there is a clear shortage of housing and where we can make a meaningful impact through our equity commitments.”

Located approximately five miles north of Truro, Trispen offers a balance of countryside living with good access to employment, education and transport links. The homes for sale at The Paddocks will be a mix of predominantly three, four, and five-bedroom detached and semi-detached houses and bungalows. We will also deliver new public open space, rewilding areas and a cycle link connecting local routes.

Nick Long, our Managing Director at Legacy Properties, said: “This joint venture with HGP is an important step for Legacy as we continue to grow responsibly across Cornwall. The Paddocks at Trispen is a scheme shaped around local housing needs, with a strong community focus, and we are pleased to be working with a partner that shares our long-term view for creating great quality family homes in Cornwall.”

Construction at The Paddocks is due to begin early this year, with the first homes expected to be available this summer/autumn.

To learn more about Trispen and our other current developments, click here.