Posted 31.01.17
Morgan Sindall Investments Limited: Article link
Universities Superannuation Scheme Ltd (USS) and Morgan Sindall Investments Limited (MSIL) have launched a new joint venture - the 'Supported Housing Investment Limited Partnership' (SHIP).
The landmark transaction brings together USS, one of the largest pension schemes and real estate investors in the UK, with MSIL's market-leading expertise in social infrastructure development and investment.
At launch, the partners will commit £100 million to SHIP, with USS providing 95% of the capital and MSIL retaining a 5% stake - and acting as asset, property and portfolio manager.
As the asset class matures, and provided that the market continues to offer suitable opportunities, the partners intend to increase the SHIP portfolio value to £200 million.
Initially, SHIP will deliver over 500 new purpose-built supported independent living apartments across the UK.
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Posted 31.01.17
Cambridge City Council: Article link
Cambridge City Council has teamed up with Hill Investment Partnerships, a subsidiary of the house building company Hill Holdings Limited, to form a new investment company to tackle the affordable housing shortage in the City.
The new Cambridge Investment Partnership will fund the redevelopment of council-owned land to provide much-needed housing.
The partnership will be 50% owned by the Council and 50% owned by Hill and overseen by a board made up of equal representatives from the two partners.
The Council will identify and invest in land that it already owns using funds allocated from its General Fund, and will invest its knowledge and skills alongside those of Hill, who will also fund land and the costs of working up a planning application.
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Posted 09.01.17
The Construction Index: Article link
This article provides the full list of who is getting what from the Government's £1.28 billion pot for its shared ownership and affordable homes programme, 2016 to 2021.
This list represents the winners of the opening bidding round for the scheme in April 2016.
The money has been committed to support the construction of 46,534 affordable homes across 1,920 schemes in England.
Sanctuary Housing Association is top of the list with nearly £90 million, to support it building 2,265 grant-funded homes.
Most bids were led by social housing providers but exceptions include contractors Kier, Galliford Try, Keepmoat and Lovell.
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Posted 05.01.17
Homes and Communities Agency: Article link
Communities Secretary Sajid Javid has unlocked £7 billion in an expansion of the Government's affordable housing programme.
Housing providers can now apply for a share of the fund, which was allocated an additional £1.4 billion at the Autumn Statement to deliver 40,000 new affordable housing starts across the country.
The Government is also expanding the existing affordable homes programme by widening the variety of tenures available, which now includes Affordable Rent, Shared Ownership and Rent to Buy.
The programme aims to help meet the housing needs of a wider range of people in different circumstances and at different stages of their lives.