ao link
Twitter
Facebook
Linked In
Twitter
Facebook
Linked In

You are viewing 1 of your 1 free articles

Places for People named on shortlist for county council development plans

Places for People has been shortlisted alongside four private companies for a groundbreaking £1bn residential development partnership with two county councils.

Linked InTwitterFacebookeCard

The 153,000-home social landlord is joined by Taylor Wimpey, Morgan Sindall, Willmott Partnership Homes and Telereal Trillium in being shortlisted by Surrey and East Sussex county councils to develop up to 10,000 homes across a range of publicly owned sites in both local authority areas.

Inside Housing revealed in January that the councils were hunting for a developer to help them take the unprecedented step for a county-wide authority.

The process – which is being run by Orbis, the councils’ joint ‘business services partnership’, and through the Official Journal of the European Union – is expected to come to a head over the summer, with one partner being selected to deliver 2,000 homes in the first phase. Knight Frank is advising the Orbis partnership.

A partnership with Surrey and East Sussex would be a significant scaling-up of Places for People’s development programme. According to 2015/16 financial statements, development and construction formed 17% of the association’s £617m turnover last year.

It has 15,000 new homes in its current development pipeline, with just over 1,100 new homes under construction in 2015/16. Significant schemes include Ruskin Square in Croydon, and East Wick and Sweetwater at the Queen Elizabeth Olympic Park.

Surrey and East Sussex are exploring the possibility of incorporating land owned by other public sector bodies in the programme, using funding from the government’s One Public Estate programme.

That process, which could encompass city councils, could deliver closer to 10,000 homes, bringing the total end value of the scheme to £1bn.

The joint venture partnership, which will last for 15 years, will carry out work in three strands: land promotion and sale, institutional build-to-rent, and development of tenanted stock for both councils to own and manage themselves.

In a document entitled Surrey County Council Property Development Programme, the council states that the £1bn of prospective development had been calculated “based on a high level evaluation of public sector land that could be released as part of the work to be undertaken through the service asset realignment study”.

The Orbis partnership, which includes property services and other activities, launched in April 2015.

A Surrey County Council spokesperson said: “We are doing this to support economic growth and income generation in Surrey.”


READ MORE

Places for People reports boosted turnover in 2016/17Places for People reports boosted turnover in 2016/17

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.