A game-changing approach to the UK's housing stock12.02.18
Three of the UK’s most innovative firms in their respective fields of development, housing management and modern construction have joined forces to help solve the UK’s housing crisis.
Stanhope plc, with £22 billion in completed projects, Network Homes, owning and managing 20,000 dwellings across London and the South East and international engineering enterprise, Laing O’Rourke have formed a long-term partnership to deliver and manage precision-engineered homes across the South East.
The multi-pronged partnership includes an agreement that sees Stanhope and Network Homes signing a new joint venture deal with an end value of £200 million, to complete 550 new residences in Southall, Ealing. The joint venture has appointed Laing O’Rourke to deliver the residences with construction expected to start in early 2019, completing by mid-2021.
Laing O’Rourke Chief Executive Ray O’Rourke said:
“We are delighted in our appointment to deliver 550 new homes at Southall, Ealing. Using Laing O’Rourke’s DfMA 70:60:30 offsite manufacturing capability, the project will see efficiency and certainty of delivery that is needed both here and to get a different result for the housing market across London and the south-east. The success of this approach can be evidenced on projects like Two Fifty One at Southwark, Imperial College’s residential towers at White City or the high-end Clarges residences in Mayfair.”
Core elements of the scheme will be digitally designed and manufactured at Explore Industrial Park, the most advanced construction manufacturing facility in Europe.
David Camp, Chief Executive of Stanhope plc, said:
“This alliance between a major private developer like Stanhope and a leading provider of quality homes like Network Homes is the only way we are going to solve London’s housing crisis by delivering high quality new homes cheaply and efficiently outside the conventional structures which have failed. We need to disrupt the market to achieve the ambitious goals for new and affordable housing set by the Mayor of London and the Government.”
550 new homes in Southall, Ealing
The 350,000 sq ft development will comprise a mix of Build to Rent, market sale and around 180 homes for shared ownership and affordable rent, together with 20,000 sq ft of retail and commercial space, and flexible work space for local small businesses and start-ups. The work space is intended to increase employment opportunities for local people.