A building site on a housing development with scaffolding and rooftops

SNG and Captiva agree £30m investment for first large-scale all-affordable homes scheme on Isle of Wight in a decade

• 2 min read

A new large-scale affordable homes project on the Isle of Wight has reached a major milestone. Captiva Homes and SNG (Sovereign Network Group) have agreed a £30 million investment into the site at Horsebridge Hill on the island, delivering 131 affordable homes in Newport and marking a new era of community-driven development on the Isle of Wight.

All the homes will be for social rent or for shared ownership, offering a real boost to people looking for an affordable home, and they will meet SNG’s Homes and Place Standard for sustainability and liveability. The development will include a children’s play area, improved transport links and enhanced drainage systems to help alleviate local flooding issues. These features aim to create a thriving, resilient neighbourhood. 

Backed by Homes England with grant support, the project will offer a mix of two, three, and four-bedroom houses, along with one and two-bedroom apartments, catering to diverse family needs. 

Construction will begin within three months, with the first residents moving in by summer 2025. The entire project is projected to be completed in three years. 

Jenny Grote, Assistant Director of New Business Growth for SNG, said: 

“As we build our pipeline over the next ten years to hit our ambition of 25,000 new homes, we are actively seeking opportunities to deliver more projects like this. Working with Captiva, the community, and the council from the initial stages of this development has enabled us to design the mix of affordable housing that is desperately needed, and we look forward to seeing this new community thrive over generations."

Captiva Homes Chief Executive Iain Delaney, who proudly notes it has contributed 20 per cent of all affordable homes on the island over the past five years, despite only representing 10 per cent of new construction, said: "The whole team at Captiva Homes is thrilled to finalise this monumental contract, securing significant investment for the island. The positive engagement from the council, Local Planning Office, NHS St Mary’s, and the local community has been invaluable in shaping a development that sets new standards in local affordable housing."