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Wates boss: political stability key to regeneration deal
The boss of a construction company partnering a local authority on a major regeneration project has said the council’s political stability was crucial to the deal.
Tim Wates, director of Wates, spoke to Inside Housing after the company was unveiled as Havering’s partner for a 12-year £1bn regeneration project covering 12 estates in the east London borough.
Mr Wates said the project is the largest regeneration scheme Wates has ever embarked on.
It comes just months after a planned joint venture between Haringey Council and Lendlease sparked a political row that ultimately saw many councillors deselected, leaving the plans in limbo.
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When asked whether he was concerned about a similar outcome in Havering, Mr Wates said: “We don’t think so. [The council] has done a lot of consultation with tenants and it is very stable politically and professionally.
“These are very long-term commitments and it is a very long-term partnership. The council needs to look at us and ask if we have the right values, and we would need to look at any potential partner and see that long-term stability.”
Havering is led by a Conservative minority, with the second-largest party the Hornchurch Residents’ Association, which has 10 seats.
The regeneration scheme will involve replacing 856 homes across the 12 estates with a total of 3,112 mixed-tenure properties.
The number of general needs rented homes will increase from 414 to 694, while the total number of affordable homes, including homeownership products, will go from 595 to 1,186.
This will include 383 homeownership properties such as shared ownership.
Consultation with residents started 18 months ago and to date has involved 741 residents across the 12 sites, 154 group meetings and 82 newsletters. There have also been more than 600 one-on-one meetings with tenants.
Mr Wates added that the scheme’s outer London location made it more attractive than central London opportunities, especially given the introduction of Crossrail services to the borough from 2019.
“We think it’s exactly right for us,” he said. “It’s in a much more affordable part of London, and the fact that the transport is going to be transformed is a massive factor.”
