Looking for opportunities to build more affordable homes by partnering with others and by using the assets we currently have. We will build a mix of homes to meet a range of housing needs and home ownership aspirations.
Our priority this year: Secure at least 40 homes a year through traditional land and build procurement.
During the year we completed two new housing developments in South Croydon. At Tilbury Lodge, we have created six homes for affordable rent and three homes for shared ownership. These fully-fitted, modern homes have links into central London as well as off-street parking.
At Woodford Court there are nine apartments let through the London Living Rent scheme which allows residents to save towards a deposit and buy their home in the future.
Health and safety has been at the forefront of our building activities. Our contractors have worked in Covid-friendly environments and we have carried out health and safety inspections to make sure all operatives are fully protected.
Our sales consultants, Red Loft, have been proactive in marketing our homes and have offered online viewings to residents.
We have had a delay on our developments at Tweedy Road in Bromley where we are creating 24 homes, at Brighton Road in Purley where we are creating 18 homes, and at Sheldon Street in Croydon where 23 homes will be built. Despite this, between 2020 and March 2022, we hope to have delivered 75 new homes, putting us on target for delivering our housing development goals.
We will focus on providing homes that are high-quality with good local facilities nearby and where residents can feel proud to live.
We are now focusing on new development opportunities. Although we predicted the housing market would drop, in our operating areas it has continued to thrive and our shared ownership properties have proved to be popular.
We have also created a development framework which gives us and others access to suppliers with the expertise to deliver a full development service from appraisal of the new scheme to sales of the homes.
So far, four other partners are using our framework – London Borough of Harrow, Braintree District Council, Adur & Worthing Council and Cambridge City Council. This allows us to focus our staff resources on delivering a service to our existing residents without the need for an in-house specialist development team.
Redeveloping existing sites
Over the coming year, we will also be looking for existing sites that could be redeveloped. The Board’s goal is to have 50% of new properties available for social rent.
As the cost of building in London is high, a benefit of developing our own sites is the saving on land costs, which can be put towards providing homes for social rent.
By delivering a programme of opportunities to develop our own schemes alongside new sites, we can fulfil this goal.