Through Outlook Homes the Group is delivering a major programme of affordable housing for both shared ownership and rent without public subsidy. We are achieving this by working in partnership with national house builders to complete Section 106 planning agreements with local councils. So far over 550 new homes have been built. Terms have been agreed for another 300 and we are expecting nearly 100 more completions by March 2008. Our total new build pipeline now amounts to over 1,200 more homes, with over 200 of them for rent. This makes a significant contribution to meeting the needs of the intermediate housing market between our traditional customers and people who can afford to buy outright.
Central to the programme are major sites at Chevin Park in Leeds, The Seasons in Lymm, Cheshire and Chapelford near Warrington. These will all provide affordable homes as part of mixed-tenure, mixed income neighbourhoods for years to come.
This year we have also agreed another phase at the prestigious Stamford Brook development at Dunham Massey in Altrincham, Cheshire. While big sites deliver larger quantities of affordable housing, we are conscious that needs exist in smaller communities so we have no lower limit for scheme size. The success of this programme is based on our specialist understanding of how the house building industry works and what our local council partners expect.
Our aim is to provide housing that suits our customers' needs and fits into new, sustainable communities.