Deals round-up: February 2024

Transport for London

Places for London, Transport for London’s wholly owned commercial property company, is searching for a new joint venture development partner to work with in east London to deliver up to 1,500 new homes, including affordable housing.

The new partnership will jointly bring forward a development scheme at the Limmo Peninsula in Newham, utilising Places for London’s existing estate, with the potential for other sites to be added in the future.

The Limmo Peninsula site, which covers around five hectares of land, now has the potential to deliver up to 1,500 new homes, including affordable housing.

Clarion

Clarion has begun construction of the first new homes on its Eastfields Estate. Once complete, the development will provide 800 new homes, of which 245 will be for social rent.

The scheme will also deliver retail, leisure and community spaces. Phase one will provide 32 homes for current Clarion residents, with 22 for social rent. The 32 households should move into their new homes by 2027.

Eastfields is part of Clarion’s £1.8bn Merton Regeneration Project, which will see the replacement of 1,000 existing homes and the construction of 1,800 new homes across the Eastfields, High Path and Ravensbury estates.

Westminster City Council and Mount Anvil

Westminster City Council has confirmed Mount Anvil as the preferred joint venture partner for the first phase of the council’s Church Street build programme, which will deliver 429 homes near Edgware Road.

The first phase, known as site A, will deliver 429 homes, at least 50 per cent of which will be affordable, as well as new library and community facilities.

A total of 214 will be classed as affordable with 171 for social rent, including the reprovision of 98 that were existing at social rent levels. Across the whole development – sites A, B and C – up to 1,120 new homes will be delivered.

Heart of Medway Housing Association and L&Q

Kent-based Heart of Medway Housing Association has completed phase one of a stock transfer of 253 homes in Dartford and Gravesham from L&Q. 

MHS Homes Group announced the completion of phase one of the stock transfer, which will see its subsidiary Heart of Medway take on the homes and an additional 292 customers. The fee for the purchase was undisclosed.

Torus

North West-based Torus has started on site its largest scheme in St Helens to date, which will build 168 affordable homes in Sutton.

Torus said that at the Lancots Lane site, out of the new homes, 96 will be for shared ownership and 72 will be for affordable rent. Lancots Lane will bring a mix of two, three and four-bedroom homes and bungalows to Sutton.

The development is in partnership with Homes England, property development and building contractor Holmpatrick Developments and affordable housing developer Stanley Land.

Platform and Bellway Homes

Platform Housing Group has started the construction of affordable homes in Desborough with the first dwellings set to be available in the spring.

The housing association is delivering 140 homes across the next few years as part of a deal with Bellway Homes on its site named The Grange.

Of the affordable tenures available, 86 will be for social rent and 54 will be for shared ownership. More of the affordable homes will be delivered throughout the development at The Grange, which is due to be completed in 2031.

Man GPM and Taylor Wimpey

Man GPM has partnered with residential developer Taylor Wimpey to develop 83 energy-efficient single-family homes in East Hertfordshire.

The homes will be built in the Stortford Fields Eastern Neighbourhood in Bishop’s Stortford. The majority (83 per cent) will be affordable to median earners in the local area.

Construction has begun on site, with the first homes expected to be occupied before the end of 2024.

Bromford

Bromford is preparing to start work on an affordable housing development that will deliver 54 new homes, after gaining planning permission.

The housing association will build the homes on the site of a former school on the 3.3-acre site at Sycamore Road in Burntwood, Staffordshire.

The 54 new homes, which will all be accessed via Sycamore Road, will be a mix of one-bedroom flats, and two, three and four-bedroom homes for social rent and shared ownership.