You are viewing 1 of your 1 free articles
L&Q and Trafford Housing Trust look for third partner
L&Q and Trafford Housing Trust (THT) are looking to add a third housing association to their pioneering joint venture partnership.
Larry Gold, deputy chief executive and chief financial officer at THT, told the National Housing Federation’s annual conference that they wanted to add another partner to the joint venture that would be “a real triple win for all three partners”.
The joint venture between giant London landlord L&Q and THT, a much smaller organisation, was launched just over a year ago to deliver 2,000 homes in Greater Manchester. The intention was to combine THT’s local knowledge with L&Q’s financial strength.
Mr Gold told the audience in Birmingham: “The large-scale [joint venture] that we’ve got with L&Q is of such an immense size and intention to grow that we can actually fit joint ventures underneath that joint venture. We will be looking at opportunities to do that, all with the goal of maximising the scale and the volume in terms of delivery and maximising the pace at which we’ll do it.”
READ MORE
According to THT, the organisation is already in talks with Wythenshawe Community Housing Group and For Viva, as well as other unnamed associations.
Mr Gold said he is seeking housing associations in Greater Manchester to join the partnership.
He added: “One deal’s fallen away that we were recently looking to bring to L&Q that would have fit nicely, so it’s real. Some people are shy and don’t want you to know that we’re talking to them and that’s absolutely fine.
“Deals come and go on a very regular basis. It will happen, I’m absolutely sure, but the first one has to be a real triple win for all three partners, and it’s just about finding that.”
At the same session, David Montague, chief executive of L&Q, said: “We’ve got the land, we’ve got the money, we’ve got the ambition, we’ve got the capacity. What we really need now are partners.”
THT is also in talks with various other organisations over launching different kinds of partnerships. One possibility is a deal with Network Rail, whose land Mr Gold said he was keen to try to purchase.
