Oxfordshire Community Land Trust opens first development

The first building built by a community-led housing scheme has opened.

The Oxfordshire Community Land Trust (OCLT) arranged the £2m construction of eight flats in Botley, near Oxford.

The homes have been funded by the non-profit organisation with rental rates set at levels affordable by those on universal credit.

The Crofts Court development is made up of five one-bedroom and three two-bedroom flats.

Tenants have to have a local connection to the parish of Cumnor, and be prepared to help manage the building along with other tenants.

The development has been secured by the trust due to grants from Vale of White Horse District Council and the Future Oxfordshire Partnership, and a mortgage by the Ecology Building Society.

Local people have also been able to buy shares in the scheme.

In a statement the trust said it was "strictly for local people in housing need" and called it a "wonderful achievement".

It added: "OCLT has an asset lock so the homes can never be sold and this means they will be affordable forever for the people who need them."

The trust is planning future developments and is looking for future members to become owners and contribute towards financing projects.

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