Senior councillors have voted in favour of winding up a housing company which was set up to deliver affordable homes.

Wakefield Council said the decision to dissolve Bridge Homes 11 years after it was established by the authority in partnership with a social housing provider was taken due to “challenging” market conditions.

Jack Hemingway, the council’s cabinet member for regeneration and economic growth, said the venture was “ending on a high” after more than 300 homes were delivered across the city.

Cabinet members agreed to a recommendation to close the business as it had begun to struggle to compete with other developers providing similar housing projects.

Wakefield Council said the decision to dissolve Bridge Homes 11 years after it was established by the authority in partnership with a social housing provider was taken due to “challenging” market conditions.

placeholder image — Wakefield Council said the decision to dissolve Bridge Homes 11 years after it was established by the authority in partnership with a social housing provider was taken due to “challenging” market conditions.

The council and Wakefield District Housing, know called Vico Homes, was established in 2014 as part of plans to regenerate areas of the district.

Coun Hemingway told a meeting on Tuesday (June 17): “Bridge has delivered fantastic homes for the market across Wakefield of a high build quality, including much-needed affordable homes for families in Wakefield.”

A total of 331 properties have been built since the business was established established over a decade ago, 99 of which were said to be affordable homes.

The homes were across sites at City Fields, Kettlethorpe, Thornes and Flanshaw.

Jack Hemingway, the council’s cabinet member for regeneration and economic growth, said the venture was “ending on a high” after more than 300 homes were delivered across the city.

Coun Hemingway added: “These have all been successful housing developments, but more than that, brand new communities,

“But the housing market is changing and the availability of land in what is a competitive field is a real issue.

“There are no further schemes in the pipeline and now is therefore the right time to bring the Bridge Homes partnership to a close.

“Nonetheless, we should be absolutely clear, this ends on a high.”

The council expects to receive around £3m following the closure, as a result of a profit split between the two organisations.

Coun Hemingway said: “These monies generated will then also be used to support the further delivery of affordable housing within the district.

“We are sad to see Bridge come to an end.

“But the brand will live on and Vico Homes will take it as the name for their housing development arm moving forward.”

Matthew Morley, portfolio holder for planning and highways, said: “We have set a high bar in what we would like to see for housing being delivered in this district.

“It was a success story. It was meant to bring money into this council and it has done.

“Congratulations to all the team that delivered. I’m just sad to see it go.”

Council leader Denise Jeffery said: “Times have changed. The market has changed and it was more and more difficult to buy land.

“It was getting more expensive and it just didn’t stack up that way.

“I think we are leaving on a high. We have delivered fabulous homes. We have delivered social housing, which is what we set out to do.

“Bridge are moving forward. It is sad, but we have done what we set out to do.”

The partnership also helped bring forward plans for 37 apartments on the site of Pontefract’s former fire station, and 50 on land previously occupied by the Chantry House local government building, near to Wakefield city centre.

Sites where council-owned land is in the process of being disposed of to a registered housing provider include the former Castleford Swimming Pool site, a parcel of land at City Fields, Farm Lane, in Fitzwilliam, and the former Waterton School site, in Lupset.