New firm takes over Market Rasen housing development project
Merchant Place Homes has taken ownership of a residential development in Market Rasen and will oversee the completion of the remaining homes in the first phase alongside plans for the wider future development of the site.
The Lincolnshire scheme, previously known as Fox Hollows, will be relaunched as Ridings Park reflecting a fresh start under new ownership, new investment and a renewed commitment to delivering a high-quality development for the local community, says the company.
The move will see the final eight homes in Phase 1 completed and expected to be released for sale in the autumn with Merchant Place Homes also progressing the next phase of the development in 2027.
Merchant Place Homes says its priority is to provide certainty for existing homeowners, complete the remaining homes and create a development that will benefit the town for many years to come.
Michael Chicken, director of Merchant Place Homes, said: "This is an important milestone for both the development and the local community. Our immediate focus is on getting the site moving again, completing the remaining homes and giving buyers confidence in what comes next.
"Ridings Park represents a new chapter and a long-term commitment from Merchant Place Homes. We are investing in the development, supporting local employment through the construction programme and looking forward to completing a scheme that residents and the wider community can be proud of."
Construction activity has now recommenced on site, creating new employment opportunities through a combination of direct site roles and specialist contractors and trades working across the development.
As work gathers momentum, the focus is on bringing a long-standing site back into active delivery and through to completion.
The firm says the homes have been designed with modern living in mind and include a range of energy-efficient features including air source heat pumps and electric vehicle charging, helping to reduce running costs and support more sustainable living.
Existing homeowners will receive regular updates as work progresses, with new communication channels being introduced to keep residents informed and provide a clear point of contact throughout the remainder of the build.
Merchant Place Homes is part of the wider Merchant Place group, which has been operating since 1998, delivering residential, commercial, industrial and leisure developments across the UK.