news Prisk unveils first tranche of Built to Rent projects
Housing minister Mark Prisk (right) has revealed the first 45 projects in the £1bn Build to Rent fund which is expected to provide 10,000 new homes in the private rental sector by 2015. The first 45 projects, a quarter of which will be in London, will receive a share of £700m, with a second round of bids for the remaining fund expected later this year. The Build to Rent fund was initially set at £200m but was raised to £1bn by George Osborne in the Budget.
Prisk says: “We have seen overwhelming demand for the fund, and it’s become clear that there is a real appetite for rental investment. We want to support that, which is why we’ve made a £1bn budget boost to the fund. Now, these new projects will help us map this almost uncharted market, bringing in new blood to improve rental quality and choice, and building the new homes that this country wants and needs.”
Mayor of London Boris Johnson said: “With London’s population expanding at record pace, we need to build around a million new homes in the next 25 years to meet demand and avert a possible
housing crisis. Increasing supply in the private rented sector has a massive part to play in this.” The first 45 developers and housing associations to be given Build to Rent funding are A2 Dominion Housing, Blackswan Property, Bouygues Development, Bovis Homes, Broomleigh Regeneration, Carillion-Igloo, Carpenter Investments, CCURV LLP, Chestnut Homes, Clearstorm, Climate Energy Homes, Countryside Properties, Crest Nicholson, CS Capital Partners, Derwentside Homes, Evenbrook Capital, Genesis Housing Association, Geronimo, Grainger, Greenwich Peninsula, Housing Solutions, Hurst Street, Inland Homes, Keepmoat, Kier Project Investment, Lendlease, Lovell Partnerships, LPC Living, Mill Group, Mount Anvil, Muse Developments, Network Housing Group, Notting Hill Housing, Orbit Homes 2020, Persimmon Homes, PlaceFirst, Plus Dane, Quintain Estates, Regeneration, Relta, South Yorkshire Housing Association, Taylor Wimpey and YH Residential. Chris Tinker, chairman of regeneration at Crest Nicholson, said: “The HCA’s build to rent initiative has the potential to underpin a meaningful increase in housing delivery at a time when the need to
stimulate growth and meet housing need is at an all- time high. Crest Nicholson looks forward to discussing the submission further with the HCA during the due diligence stage and to working with its proposed management and funding partners to see this ambition realised on a significant number of larger sites within its portfolio.”
Terry’s chocolate factory acquired for residential development
The former Terry’s chocolate factory on Bishopthorpe Road in York has been bought for an undisclosed sum by Henry Boot Developments and David Wilson Homes. Up to 270 homes will be built on the South Bank end of the site when work starts later this year. Elsewhere on the site, the redevelopment of the old factory buildings will feature a variety of uses including homes, offices, hotels and shops. Paul Newman of David Wilson Homes, said: “We believe that there is extensive local support for the new homes planned for the site and we intend to keep talking with neighbours as our plans develop. All being well, we could begin on site in the summer. We’re tremendously excited about the opportunity to regenerate this deteriorating brownfield site to make it into a vibrant part of the local South Bank community.” The factory’s closure in 2005 – when production was moved to continental Europe – brought to an end more than a century of chocolate-making in York by Terry’s.
Willmott Dixon named as contractor for £40m Greenwich Millennium Village phase
Willmott Dixon has agreed a £40m contract for the next phase of Greenwich Millennium Village, taken its secured order book for new housing in 2013 to £160m. It will build 206 mixed-tenure homes at the development, which is a joint venture between Taylor Wimpey Central London and Countryside Properties. Up to 1,800 homes will be built at Greenwich Millennium Village over the next 15 years Charlie Scherer, chief operating officer for Willmott Dixon’s housing company said: “We’re delighted Taylor Wimpey Central London and Countryside Properties have chosen us to build the next major phase of this fantastic development in Greenwich. Our expertise in building homes for all types of tenures will ensure the successful delivery of this key phase in the ongoing transformation of the Greenwich Peninsula. Greenwich Millennium Village will soon be home to thousands of people, creating a vibrant community in a great location.” Construction of this phase is scheduled to conclude in spring 2015. Willmott Dixon has secured three other regeneration programmes in London this year: the Church End estate regeneration in Neasden, the ten-year Aberfeldy Village regeneration in Tower Hamlets and the Brentford Lock West regeneration.
showhouse May 2013 | 13
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