Nationwide ready to build new community as land deal and main contractor are agreed

  • Society will open NEW Community Pop-ups in Billingshurst Community Centre and Bacup Library
  • Britain’s biggest building society prepares to commence work on 239 new homes
  • Society has exercised the option to purchase the brownfield site in Swindon
  • Mi-space, part of Midas Group, named as main contractor of £50m Oakfield project

Nationwide Building Society has today made a leap towards building a thriving new community in what it hopes will become a blueprint for others beyond the housing sector.

Britain’s biggest building society has exercised a land option with Swindon Borough Council and appointed Mi-space as the main contractor for the 239-home Oakfield site in Swindon, Wiltshire. 71 of the properties (30%) will be made available as Affordable housing.

Mi-space will join development manager Igloo in creating what is hoped to be a showcase blend of British design, quality and sustainability. Work on the £50 million development is set to begin on site in April, with construction expected to take around three and a half years, with the first homes being launched in the autumn of 2021.

The Society hopes that the project can be used as a blueprint for other responsible businesses to follow, particularly organisations without experience in housebuilding.

Since announcing its intentions to build Oakfield at the end of 2017, Nationwide has been in regular dialogue with the local community, businesses and existing community groups to ensure the project meets their expectations and needs. In testament to the level of understanding between the Society and local people, the Society received no objections to the planning application which was approved in July last year.

Nationwide Building Society’s dedicated Community Organiser has been working in and around Oakfield, finding out what local residents and businesses want from the new development, involving them in the design development. This will continue throughout the process.

Nationwide has been guided through the development process by impact developer, Igloo – the team behind many of the UK’s acclaimed regeneration projects including The Malings in Newcastle.

Nationwide’s Director of Commercial, Tony Alexander said:“We’ve made important progress today on our plans to develop Oakfield into a thriving community in Swindon. At a time when many are questioning the lack of community, it has perhaps never been more important to invest in society and we want this project to light the fire on the housebuilding debate. We’re looking forward to starting on site later this year.”

Steve Hart, Divisional Director for Mi-space, which is part of the Midas Group, said: “As a business with its roots firmly in the South West we have a deep commitment to the social and economic success of our region and to creating and supporting communities that work well now and in the future. We are proud to be involved in what promises to be an inspirational project and we look forward to working with Nationwide and the local community to maximise the benefits locally during construction as well as delivering a positive and lasting legacy at Oakfield.”

About Nationwide

Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

About Igloo

Igloo is a Social Impact developer and development manager. They set up the world’s first responsible real estate fund in 2002 (source: United Nations) and are the UK’s first B Corporation in the real estate sector.

Guided by their pioneering footprint® sustainable investment principles, they have been delivering transformational regeneration and development projects across the UK for nearly two decades. Together with partners (including institutional investors, local authorities and government agencies) they deliver vibrant new neighbourhoods for communities, and long-term impact-driven returns for investors - for people, place and planet. Partners include some of the UK’s leading organisations, across the public and private sectors, including PfP Capital, Homes England, Nationwide Building Society, Nottingham City Council, Scottish Canals, Newcastle City Council.

For examples of our work, please visit: www.igloo.uk.net

About Midas Group

The Midas Group is one of the UK's largest independent construction and property services providers. The Group operates across the South of England, Wales and the Midlands and provides four key services as follows:

  • Construction - Regional construction capability providing construction services across all sectors; including specialist retail and interiors teams.
  • Residential - specialist residential contractor and developer
  • Maintenance - specialist planned and reactive maintenance
  • Developments - property development capability

Midas is one of the region’s largest employers, with over 500 people employed across the group. For more information visit www.midasgroup.co.uk

Please note: If you are a customer looking for information on our products and services, please visit the main website.