The Mayor of London has unveiled the first phase of a £100m housing boost for London.
It will see 27 organisations sharing £78m to build 3,000 new homes across London which the Mayor says will support around 6,000 jobs in construction. The homes offered will offer a mixture of affordability measure, including low-interest equity loans, ‘rent-to-save’ and ‘part-buy-part-rent.’ The first homes from this round should be available in April. A further round of allocations, for the remaining funds, will be confirmed next month.
Boris Johnson said: “Boosting construction and improving the housing options of hard-working Londoners is critical to this city’s economic success.”
News of the Mayor’s first funding allocations comes after he recently called upon the Coalition Government to allow London to retain all stamp duty receipts raised on its property sales, estimated to be worth £1.3 billion a year, to allow him to build the one million homes that he says London will need by the mid 2030s.
This bidding round opened in September last year and closed in November. It was open to providers capable of delivering affordable home ownership for working Londoners, offering one or a combination of rent to save, shared ownership, equity loan, FirstBuy or other affordable home ownership options.
In total bids were received to the value of £209m from 42 different organisations. These were a mixture of housing associations, housebuilders, London Boroughs and new housing providers.
Organisation Sum Homes
- A2Dominion Housing Group Ltd £2,450,000 70
- Affinity Sutton Group Ltd £1,661,450 64
- Amicus Horizon £1,092,000 42
- Asra Housing Association Ltd £800,000 40
- BDW Trading Ltd £13,623,405 609
- Bellway Homes Limited £1,738,823 80
- Berkeley Homes Plc £2,590,000 74
- Catalyst Housing Limited £3,727,064 161
- Countryside Properties (UK) Ltd £2,611,322 107
- Crest Nicholson Operations £728,062 29
- East Thames Group £3,685,000 134
- Fairview New Homes Ltd £3,576,960 189
- Galliford Try Homes £377,485 16
- Harrow Council £250,000 10
- ISIS Waterside Regeneration £782,508 27
- London and Quadrant Housing £540,000 18
- London Borough of Camden £1,220,000 61
- London Borough of Ealing £435,000 29
- London Borough of Enfield £375,000 15
- Network Housing Group Limited £8,252,840 240
- Notting Hill Home Ownership £11,319,163 356
- Oak Housing Limited £1,710,000 57
- Octavia Housing £503,250 21
- Persimmon Homes £1,016,759 47
- Redrow Homes Ltd £6,046,964 257
- Solum Regeneration LP £412,650 17
- Taylor Wimpey UK Limited £6,029,410 256