Posted 21.06.16
Futures Housing Group has struck a £147.5 million financing deal, including £53.5 million of new funds, to support an ambitious plan to triple its house building in the Midlands.
The agreement, which will help Futures build more than 1,000 new homes by 2020, sees loans refinanced from existing partners Newcastle Building Society, RBS and Nationwide Building Society.
A further £50 million has been borrowed over 5 and 10 years from the latter two lenders, with each providing £25 million.
In addition, new partner Lloyds Bank Commercial Banking has worked with Futures Housing Group to make £3.5 million available over 25 years.
This will allow the 9,000-home East Midlands-based housing provider to establish a development subsidiary to build homes for market sale.
It is the landlord's biggest-ever house building programme.
A total of £3.5 million will be used to directly fund homes for outright sale as part of Limehouse, the commercial development arm of Futures. Profits made from house sales will be re-invested back into the Group to support its core business as a Registered Housing Provider.
Posted 08.06.16
Croydon Council have launched an ambitious house-building programme to help boost the supply of new and affordable homes.Its development company, Brick by Brick, will build the much-needed housing on council-owned land across the borough.
Croydon's population is growing and set to rise even further, which is having a huge impact on the demand for homes and the affordability of those homes, leaving many local families struggling to buy or rent.
Croydon is one of a handful of local authorities that is taking an innovative commercial approach to house building by setting up development companies in order to address housing shortages and meet increasing demand in their own communities.
The Council is a significant land owner and around 50 sites have been identified that potentially could be used to build around 1,000 new homes by 2018. Feasibility studies are now under way.
When suitable sites have been identified, the Council will be engaging with local people about any possible residential development in their area.
Posted 01.06.16
Two multi-million pound deals will see over 1,000 new homes built in the capital specifically for private rent.
The 2 schemes are the latest deals under the Government's Build to Rent scheme and are being supported with more than £150 million of funding.
The 1,046 new homes to rent support a package of government measures to deliver 1 million new homes to boost housing supply and help local economic growth.
The schemes are located close to underground stations. Each site will include a mix of 1, 2 or 3 bedroom homes.
These include:
The properties will be completed in 2019.
Information
The Build to Rent fund is designed to accelerate housing provision and to help developers produce large scale, quality homes, specifically for the private rented sector.
To date, over 5,800 homes have been contracted through Build to Rent with investment totalling £661 million.
