Durkan seals deal with Brent ALMO
Community contractor Durkan has won a framework agreement worth £100 million to work with Brent Housing Partnership and bid in tandem for housing development opportunities.
Durkan will be the only contractor working with the arm’s-length management organisation and will design, build and provide initial funding for new homes in the London borough of Brent.
The ALMO will then purchase and manage the homes on completion, in a process known as a turnkey agreement.
Durkan said that most of the properties built will be for affordable rent, although a small proportion will be for private sale. The number of homes created will depend on the joint venture’s success in bidding for sites to develop over a four-year period. BHP currently manages 13,600 properties.
Robert Clark, managing director of Durkan, said: ‘We are delighted to be working with Brent Housing Partnership on this project. The partnership will have a positive impact on the borough of Brent and it will enable us to help create sustainable communities in the area.’
More details of the scheme will emerge in the coming weeks, with both parties currently finalising their plans.
The news follows Durkan’s successful capture of a £28.5 million construction contract with L&Q Group to provide a 207-unit development in east London.
The redevelopment of the Kingsland Basin site, which will begin in spring 2010, involves the demolition of existing buildings and the design and build of five blocks of up to eight storeys.
The new scheme will provide homes for rent, shared ownership and private sale and will achieve code for sustainable homes level 4.
Additional commercial space will be formed through restoration, conversion and alterations to the existing grade II listed buildings around the site.
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