
At their meeting next week, Sefton Councilâs Cabinet members are being provided with an update of how itsâ armâs-length development company is delivering new homes.
Sandway has now sold properties on its Crossens and Ainsdale developments to 36 families, couples, and first-time buyers. Twenty-three plots on the two developments, Hey Farm Gardens and Sandy Brook, have been completed.
First-time buyers
Several first-time buyers have secured plots through Sandwayâs involvement in the Governmentâs Help to Buy scheme and the company is also providing homes for shared ownership. And the 13 apartments it will provide to Sefton Council are the Boroughâs first new council housing since 2006.
The update on Phase 1 of Sandwayâs business plan at next weekâs meeting explains that despite the good progress with sales, industry-wide supply chain issues has resulted in delays for both sites. Hey Farm Gardensâ 30 properties will now be completed by May and the 48 new homes at Meadow Laneâs will be finished by July.
Work on the 63 new homes at Sefton Grange in Netherton will now start in April next year with completion expected by April 2026.
September budget statement
Next weekâs report also highlights the impact that external economic factors including that rising interest rates resulting from central Governmentâs September budget statement combined with the highest inflation rates for 40 years are having on Sandwayâs business plan. Unsurprisingly, higher mortgage rates, lendersâ withdrawal of mortgage products and people having less money in their pocket is having an impact on the housing market. Additionally, inflation is pushing up construction costs and causing supply chain issues.
In an updated financial forecast, the report says that the overall profit that would be payable to the Council remains in line with that of the original approved business case in 2019. Capital receipts of ÂŁ2.2 million for the three development sites would still be payable to the Council.
Recognising the ongoing volatility of the UK economy resulting from the September budget statement, the report says it is important that the Council is provided with âcomprehensive risk-assessed reportsâ.
Correct decision
Cllr Trish Hardy, Sefton Councilâs Cabinet Member for Communities and Housing said: âHearing one of the people moving into their new home through a shared ownership scheme say it is a dream she thought was beyond her grasp demonstrates that our decision to develop housing across the Borough by creating Sandway was correct.
âHowever, like so many aspects of life for people across Sefton, the widely-acknowledged disaster that was the previous Prime Minsterâ September Budget statement is now having a negative impact.
âUnderstandably, the perilous state of the British economy is having an effect on Sandwayâs business plan and as this report highlights, while profit levels remain at the forecast 2019 levels, we will continue to work hard with the company to monitor the ongoing situation”
You can find out more about Sandway Homesâ developments here.
You can find the agenda for next weekâs Cabinet meeting here.


