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London borough to buy almost 300 homes from association on regeneration site

Southwark Council is set to convert an additional 280 homes on the Aylesbury Estate regeneration project to social rent as part of a deal struck with Notting Hill Genesis (NHG).

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Picture: Notting Hill Genesis and HTA Design LLP
Picture: Notting Hill Genesis and HTA Design LLP
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Southwark Council is set to convert an additional 280 homes on the Aylesbury Estate regeneration project to social rent as part of a deal struck with Notting Hill Genesis #ukhousing

“We’re really pleased that the first development site at the Aylesbury estate will now provide 581 brand new council homes for existing residents to move to,” said @Leo_Pollak #ukhousing

The move, which will be considered at a council meeting this afternoon, would mean that a total of 581 homes to be delivered on the first development site of the estate will be council homes at social rent.

Under the new agreement, the council will fund the delivery of the 581 homes at an estimated cost of £193m. However, the council expects to secure roughly £54.5m in grant from the Greater London Authority towards these costs.

In 2014, Southwark Council signed a £1.5bn deal with NHG to carry out the 18-year regeneration of the Aylesbury Estate.


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Originally the partnership was set to deliver 4,000 new homes, of which 50% would be affordable.

The new agreement would see all homes delivered under ‘Package A’ and ‘Package B’ of the first development site now being delivered by NHG on behalf of the local authority as council homes.

‘Package C’ of the first development site would remain a NHG scheme and be mixed tenure.

It is expected that the new arrangement will accelerate the delivery timescale for the regeneration project’s first development site.

The council report said: “While a mixed-tenure scheme is reliant on cross-subsidy from private sale units, which is challenging in the current property market, council funding to deliver new social rent homes provides a more certain funding position and unlocks the delivery of Packages B and C, allowing these construction packages to be let at an accelerated time frame.”

Leo Pollak, cabinet member for social regeneration, new homes and great estates at Southwark Council, said: “We’re really pleased that the first development site at the Aylesbury Estate will now provide 581 brand new council homes for existing residents to move to, following through on our commitment to apply our ‘expand and enrich’ principles for council estates at the Aylesbury.

“This new arrangement sees our partnership with NHG evolving, where they take on the role of development manager in delivering these homes. This will mean we can speed up the delivery of high-quality council homes that are built to last, and crucially bring forward options for rehousing residents on the estate to help keep the Aylesbury community together.”

Kate Davies, chief executive of NHG, said: “Like all London boroughs, Southwark has a large waiting list for housing and we are pleased to support them in providing more than 500 warm, safe, high-quality homes, which will also help rehouse residents on the Aylesbury Estate.

“Tackling the housing crisis is a priority for all providers and we can do that best by working together.

“We are committed to the ongoing success of the Aylesbury regeneration and creating homes that people are proud to live in and a vibrant mixed community for new and existing residents of the neighbourhood.”

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