Bellway Latimer and Aberdeen Group agree £70.5 million deal for 139 Cambridge homes
Publication Date: 09-02-2026 09:00
Bellway Latimer and Aberdeen Group agree £70.5 million deal for 139 Cambridge homes
Bellway Latimer has agreed a £70.5 million deal with Aberdeen Group for the sale of 139 homes at Springstead Village in Cambridge.
The single-family private rental properties, comprising both houses and apartments, will be constructed by Bellway Latimer over the next two-and-a-half years, with the first handovers to Aberdeen due to take place this summer.
Springstead Village is creating a new community of 1,200 homes on a 138-acre site which previously belonged to Cambridge Airport in Cherry Hinton. The project is a joint venture between national housebuilder Bellway and Latimer, the development arm of Clarion Housing Group.
Parkland, cycleways, a community centre and nature-inspired public art are already in place at Springstead Village and around 160 private and affordable homes are now occupied.
Work will start later this year on a local centre with community facilities, retail and leisure space. As the development progresses it will bring allotments and more parks and green open spaces. Land has also been set aside for a primary school and a secondary school.
Phil Standen, Managing Director for joint venture partner Bellway Essex, said: “Springstead Village is a landmark development for Cambridge which is raising standards for design, build and sustainability.
“Bellway Latimer has worked closely with the community and with the local authorities, forging collaborative relationships which have helped to establish this thriving new neighbourhood.
“Cambridge is a cosmopolitan city with a vibrant business community, so a wide range of homes are required to suit people’s varying requirements and lifestyles. Springstead Village is already delivering 40 per cent of its homes as affordable properties. The deal with Aberdeen will make Bellway Latimer’s low-carbon energy-efficient homes available to people who are seeking high-quality housing in the private rental market.”
Richard Cook, Chief Development Officer at Clarion Housing Group, said: “Springstead Village reflects the long-term, place-making approach that sits at the heart of what we do at Latimer, as the development arm of Clarion Housing Group. As the transformation of the former Cambridge Airport site continues, our focus is on creating a well-connected neighbourhood that combines new homes with generous green space and the infrastructure needed to support a growing community over time.
“This agreement underlines the strength of our partnership with Bellway and the confidence in the homes being delivered. By securing long-term investment at Springstead Village, we are helping to support a balanced and sustainable community in Cambridge, while ensuring that the value generated through Latimer’s developments is reinvested into delivering more affordable homes and supporting communities across the country.”
Bellway Latimer was represented in the deal by Savills. Aberdeen Group will manage the homes on behalf of Border to Coast Pensions Partnership.
Joe McDonnell, Chief Investment Officer, Border to Coast Pensions Partnership, said: “This is a landmark deal for our partnership. The UK faces a significant shortfall in affordable, quality homes to rent and our first investment in single-family housing at Springstead Village will help meet this demand, aligning social and economic value with long-term returns for Partner Funds in a UK growth sector.”
Iain Leheny, Fund Manager, Aberdeen Investments, said: “The delivery of high-quality rental homes, such as those in Springstead Village, can play a key role in meeting the UK’s housing needs and reflects the evolving realities of today’s market - all while driving the UK growth mission.
“The private rental market is a vital part of the housing ecosystem, and build to rent accounts for just 2% of stock - well behind our international peers. While the growth potential is clear, it needs to be done well, and with care and innovation, and the mix of houses and apartments is a clear illustration of this.
“Springstead Village is the perfect example of the housing stock we want to invest in, combining high quality homes with growing local infrastructure. A lot of care has been taken in the design to make it feel like the kind of place tenants want to move to, with easy access to Cambridge’s tech and life sciences hub, bringing high convenience for busy families.”
William Pearce, Associate Director, Savills UK, said: “Savills is delighted to have advised Bellway on this landmark transaction. The quality of the masterplan and the strength of the Cambridge market make this a highly compelling development for long‑term institutional investment. As Border to Coast’s first entry into the UK single‑family sector – and Bellway’s first institutional single‑family forward‑funding deal – this transaction underscores both parties’ confidence in a sector that continues to grow rapidly across the UK.”
