Council hopes to bag millions from housing scheme
PUBLISHED: 15:00 19 September 2018
Dozens of homes could be built in Weston to earn North Somerset Council up to £6million.
The authority could embark on a joint venture with Bath and North East Somerset (BANES) Council to build around 158 homes across the district.
The scheme would see BANES’ own property management company, Aequus Development, carry out the work on the North Somerset Council-owned land.
Although it may not be part of the joint venture, one of the proposed sites is in Selworthy Road in the Bournville estate, where 50 homes could be built.
Sites in Nailsea and Portishead would be developed under the North Somerset and BANES arrangement, if it is approved.
The idea will be debated by members at Tuesday’s full council meeting.
While North Somerset would spend around £10,000 to set up and finance the scheme, it is proposing to receive 75 per cent of profits from land value and sales.