Godwin signs forward funding deal with CBRE Investment Management for Milton Keynes development

Work already underway for first major residential scheme of affordable homes in central Bletchley

July 12, 2022

Bletchley View aerial view

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Helen Stott

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UK property developer Godwin Developments has agreed a forward funding deal with CBRE UK Affordable Housing Fund (AHF) – a fund managed by CBRE Investment Management (CBRE IM) to deliver 184 affordable homes in central Bletchley, Milton Keynes.

The four-acre scheme, named Bletchley View, will provide a mix of affordable and shared ownership properties, a combination of one and two bed flats as well as 12 three-bedroom houses.

CBRE UK Affordable Housing Fund (AHF) invests in affordable housing with the aim to have a significant social impact across the United Kingdom.

Bletchley View will cater to the growing demand for affordable homes in the area, especially from young people and families, seeking quality housing within commuting distance to employment opportunities. It will consist of two six and five-storey buildings, a row of townhouses as well as commercial spaces for the benefit of residents and the neighboring communities.

Aligning with the sustainability ambitions of AHF and Godwin, air source heat pumps for hot water and a mechanical ventilated heat recovery system will be installed. The scheme is also located close to a train and bus station to help promote the use of public transport.

Stuart Pratt, Founder and Director at Godwin Developments said: “With its proximity to Milton Keynes, the UK’s newest and fastest growing city, Bletchley has significant potential to become a modern thriving urban destination as outlined in the plans for its regeneration.

“We are therefore thrilled to have partnered with CBRE IM in delivering the first major new residential scheme in the area which will ensure local and new residents have access to a range of quality affordable homes. This scheme aligns perfectly with our strategy for developing a range of residential opportunities across key growth locations nationwide.”

Andrew Davey, Head of Liability Aware Strategies at CBRE Investment Management commented: “We are particularly proud of our partnership with Godwin as it demonstrates the commitment we have to providing affordable homes where they are needed most. Our business plan proactively manages the scheme by setting rent levels and shared ownership prices to meet the specific affordability requirements of the local population.

“We look forward to working with all our partners on this development and are excited to be delivering affordable, sustainable homes to the community of Bletchley.”

Part of the multi-million-pound redevelopment plans for the Buckinghamshire town, famous for its role in World War II code breaking, Bletchley View will also support ambitious local plans for delivering more homes, wider infrastructure upgrades and amenities to the area. Located adjacent to Bletchley station, with connections to London and across Oxfordshire and Cambridgeshire as a part of East West Rail, the scheme will be close to a range of existing amenities, with more to be delivered soon as a part of the metropolitan hub. When completed and fully occupied, it will sustain a diverse range of local shops, bars, cafes, restaurants, niche retail and SMEs which are expected to make Central Bletchley a destination in its own right.

National business Winvic Construction has been appointed as the main contractor on the scheme with work on site already underway and expected to complete in Q2 2024.

Godwin was advised by agents CBRE and lawyers Hamlins. Simply Planning were the planning consultant. Advisors to CBRE Investment Management were Penningtons and CS2.

Godwin Developments has a fast-growing nationwide portfolio, including nearly 3,000 residential units nationwide some of which are set to begin construction in the second half of 2022. The business operates across the BTR sector covering both multifamily and single-family housing as well as affordable homes with a number of residential developments covering Nottingham, Doncaster, Cambridgeshire, Milton Keynes and Derby, and many more in the pipeline. The company’s commercial and industrial divisions work includes recent developments in Northamptonshire, Staffordshire, Dorset and Cambridgeshire, alongside a strong UK-wide pipeline.

Editors’ Notes

About Godwin Developments

Godwin Developments is an experienced national property developer with a focus on residential, commercial and mixed-use schemes, in partnership with the public and private sectors. Headquartered in Birmingham, the business also has offices in Nottingham and central London and employs over 45 property professionals supported by a Property Advisory Board of leading industry professionals. With a diversified portfolio of projects around the country approaching £1 billion in value across over 3 million sq. ft of development, Godwin has a proven track record of delivering shared prosperity since 2003. As a member of the Godwin Group of companies, Godwin Developments benefits from access to funding which enables us to secure opportunities and progress schemes from start to finish quickly and efficiently.

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About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

This material may not be distributed in any jurisdiction in which it is illegal to do so. CBRE UK Affordable Housing Fund is authorised by the Financial Conduct Authority (FCA). This Fund is for professional or qualifying investors who are eligible to invest in a Qualifying Investor Scheme (QIS) within the meaning of the FCA Rules only. It is not intended to be distributed or passed on, directly or indirectly, to any other class of persons. It is not available to ordinary retail investors. CBRE Investment Management (UK Funds) Limited obtained its Alternative Investment Fund Managers Directive (AIFMD) licence from the FCA on 15 July 2014 and is the alternative investment fund manager (AIFM) for the CBRE UK Affordable Housing Fund. A National Private Placement Registration (NPPR) is in place in Germany and the Netherlands”.