More Get Britain Building money allocated

The Homes & Communities Agency’s Get Britain Building Programme has allocated more money to stalled schemes across North London.

In the first round, in February, Grahame Park was the only scheme in London to be granted funds. It was among 18 schemes nationally sharing around £46m.

Now another round of funding has been announced, with several North London schemes being successful. Twenty schemes across London, which will deliver around 2700 homes, according to the Mayor of London’s office, will share £103m.

The successful bidders from North London are:

  • Highmead  – by Countryside Properties, delivering 120  homes
  • Beaufort Park  – by Berkeley Group Holdings, delivering 132 homes
  • Woodberry Oakend  – by Berkeley Group Holdings, delivering 239 homes
  • Plot N2 in Hale Village – by Hale Village Properties, delivering 58 homes

“Get Britain Building” is intended to unlock stalled sites with planning permission to support construction and provide new homes. Its aim is to address difficulties in accessing development finance faced by some housebuilders and to help bring forward marginal sites by sharing the risks involved.

The Mayor of London, Boris Johnson, said: “This programme offers us a fantastic opportunity to accelerate the delivery of desperately needed new homes and provide a real boost for jobs in the construction industry. As well as driving economic growth these sites have all been identified as having the potential to create stronger and thriving communities to live in.”

Submitted bids were assessed by the Homes & Communities Agency, which was looking at those projects which offered the best value for money and the most likely to be delivered. The shortlisted schemes will now be invited to enter a due diligence process before contracts are signed.

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