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G15 landlord launches £750m construction framework
London-based Network Homes has launched a £750m framework to search for contractors to help deliver new developments and regeneration schemes.
Successful bidders will be used by the 20,000-home landlord to achieve its future development ambitions, which include plans to build 5,000 new homes over the next five years.
The framework will be split into four lots: for projects up to £10m; those between £10 and 35m; those over £35m; and construction management.
According to Network Homes, the value of the framework as represented in the tender notice “is not in any way an accurate estimate of the value of works to be awarded”.
This is a result of “the current state of the market, uncertainties over our pipeline and land availability and the unknown volume of other ‘social housing providers’ using the framework agreement”, it added.
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The coronavirus pandemic, combined with other challenges such as a sluggish housing market and huge fire safety and carbon reduction investment needs for existing stock, has cast uncertainty over housebuilding ambitions across the board.
Network Homes, which is a member of the G15 group of large London housing associations, said that other social housing providers may be able to call off contracts under the framework agreement, including local authorities and ALMOs.
It also said that any wholly owned subsidiary of the housing association will be entitled to access the framework.
Network Homes currently has a secure development pipeline of around 2,500 homes, with 18 projects on site.
Its pipeline includes garage site redevelopments, neighbourhood regeneration schemes and large land-led residential developments, including a 575-unit scheme in Southall and a 1,600-unit scheme in Harrow.
