The deal was spearheaded by Simon Somerville-Large, managing director and founder of Laragh Homes whose other projects include the Community Land Trust developments at Stretham and Wilburton.
Cheffins is marketing the flats at prices ranging from £275,000 to £325,000 at Alexander House at the bottom of Forehill.
- Credit: Laragh
Under the agreed deal Laragh Homes bought Alexander House in Forehill to deliver 25 new homes to include four affordable homes as part of the conversion of the former office block where tenants once included Lucy Frazer MP and the Ely Standard.
CAPCA says that by providing the loan it will enable four of the units to become affordable flats without any grant being required.