Barratt Homes receives largest single allocation under London scheme

Boris Johnson

Source: Surrey News

London mayor Boris Johnson has announced the first phase of a 拢100m housing fund which he says will support 鈥渢housands of jobs in the capital鈥檚 construction industry鈥�.

This will see 27 organisations sharing 拢78m to build 3,000 new homes across London supporting around 6,000 construction jobs.

The homes will offer flexible ownership options, including low-interest equity loans, 鈥榬ent-to-save鈥� and 鈥榩art-buy-part-rent.鈥�

In total bids were received to the value of 拢209m from 42 different organisations such as housing associations, housebuilders, London Boroughs and new housing providers. Barratt Developments received the largest single allocation, of 拢13.6m, followed by Notting Hill Home Ownership with 拢11.3m.

The allocations in full are as follows:

Provider name                           Proposed allocation     Homes to be delivered  

  • A2Dominion Housing Group Ltd      拢2,450,000                              70     
  • Affinity Sutton Group Ltd                  拢1,661,450                            64     
  • AMICUSHORIZON LTD                   拢1,092,000                              42     
  • Asra Housing Association Ltd            拢800,000                                40     
  • BDW Trading Ltd     (Barratt)             拢13,623,405                            609    
  • Bellway Homes Limited                    拢1,738,823                              80     
  • Berkeley Homes Plc                           拢2,590,000                              74     
  • Catalyst Housing Limited                  拢3,727,064                             161    
  • Countryside Properties (UK) Ltd       拢2,611,322                              107    
  • Crest Nicholson Operations Limited      拢728,062                            29     
  • East Thames Group                            拢3,685,000                              134    
  • Fairview New Homes Ltd                  拢3,576,960                              189    
  • Galliford Try Homes                          拢377,485                                 16     
  • Harrow Council                                  拢250,000                                 10     
  • ISIS WATERSIDE REGENERATION    拢782,508                            27     
  • London and Quadrant Housing Trust       拢540,000                           18     
  • London Borough of Camden              拢1,220,000                              61     
  • London Borough of Ealing                 拢435,000                                29     
  • London Borough of Enfield               拢375,000                                 15     
  • Network Housing Group Limited     拢8,252,840                               240    
  • Notting Hill Home Ownership           拢11,319,163                            356    
  • Oak Housing Limited                       拢1,710,000                                57     
  • OCTAVIA HOUSING                        拢503,250                                 21     
  • Persimmon Homes                             拢1,016,759                              47     
  • Redrow Homes Ltd                            拢6,046,964                              257    
  • Solum Regeneration LP                     拢412,650                                 17     
  • Taylor Wimpey UK Limited              拢6,029,410                              256

Johnson said: 鈥淏oosting construction and improving the housing options of hard-working Londoners is critical to this city鈥檚 economic success.

鈥淭here has been a fantastic level of interest in this new fund, which will help an additional 10,000 people make their way onto the property ladder on top of those already being helped through other programmes. There is still much more that must be done to continue to boost house building in London, and I will continue to push for a fairer funding deal which puts us in an even stronger position to meet the challenges that lie ahead.鈥�

The mayor recently called upon the government to allow London to retain all stamp duty receipts raised on its property sales, estimated to be worth 拢1.3 billion a year, to ensure it can build the one million homes that London will need by the mid 2030s according to the GLA.

Topics