Taylor Wimpey and Lidl to build homes costing just £64,000

Taylor Wimpey has teamed up with budget supermarket Lidl to build what could be the cheapest new private homes in Scotland.

The German chain and Taylor Wimpey's 'no frills' housing brand G2 will offer homes starting at around £64,000 for a one-bedroom flat, according to the Scotsman. It is understood the home will only be available to first-time buyers – buy-to-let investors will be barred.

Buyers will also have their deposits and legal fees paid as part of the scheme to get first-time buyers on to the property ladder.

A joint planning application by the companies has been submitted to East Lothian Council to build 48 homes on Lidl-owned development land in Prestonpans high street, East Lothian.

The £64,000 one-bedroom flat costs about £32,600 less than an average one-bedroom flat in East Lothian, while the two-bed flat at around £70,000 is nearly £50,000 less than the average for the area – and £95,000 less than a two-bed flat in Edinburgh.

A council spokesman said: "The council would welcome housing that is affordable and allows first-time buyers especially to get on the ladder."

David Marshall, a business analyst at the Edinburgh Solictors' Property Centre, said: "The Prestonpans project is a relatively new thing and is a way of filling the void. Ultimately, we will only see more of this if the supermarkets find it profitable."