Wates has agreed a £1bn contract to redevelop 12 council estates across the east London borough of Havering.
The privately-owned contractor will form a joint venture with Havering Council to overhaul the authority’s existing accommodation to create around 3,000 homes over the next 12 years.
The project will see the council’s current stock of 856 homes replaced with 3,112 homes of mixed of tenure.
Havering Council said it had chosen Wates after an “extensive” procurement process. It explained the contractor had the capabilities and capacity required for the project and had demonstrated an understanding of the borough and its people.
The council began its search for a JV partner for the regeneration project last March.
Finance for the scheme will come through the council’s Housing Revenue Account (HRA), rent income ring fenced by the authority for the the building of new houses. This is in addition to funding from Wates and £33m of grant money from the Greater London Authority to build new estates of which 40 per cent are classed as affordable.
Tim Wates director of Wates said: “Wates Residential is delighted to have been chosen as the London Borough of Havering’s partner on this extremely exciting project, and we look forward to working with the council as we build more than 3,000 high-quality homes over the next 12 years.
“As a family-owned business, we have always been committed to giving something back to the places that we build in. I am proud that we will not only provide crucial additional housing, but also significant benefits to the community through our investment in skills, training, education and jobs for local people.”
The Estate Regeneration Programme
- Total regeneration of the Waterloo Estate in Romford, as part of the Romford Housing Zone.
- Total regeneration of the Maygreen Crescent and Park Lane estate in Hornchurch.
- Total regeneration of the Oldchurch Gardens estate in Romford.
- Total regeneration of Napier House and New Plymouth House in Rainham, as part of the Rainham Housing Zone and delivery of the new Beam Park community.
- Royal Jubilee Court in Gidea Park will be developed as an older persons’ village.
- Serena, Solar and Sunrise Court in South Hornchurch will be developed as an older persons’ village.
- Brunswick Court in Cranham will be demolished and redeveloped as an extra care sheltered housing scheme.
- Adding two more levels of flats on top of existing flats in Chippenham Road, Farnham Road and Hilldene Avenue in Harold Hill.
- Four sheltered housing scheme sites will be regenerated for general needs housing, some of which may be allocated for people over the age of 50.
- These are: Delderfield House, Collier Row; Dell Court, Hornchurch; Park Lane, Hornchurch; Queen Street, Romford
The first phase of the development is due to start late 2019 on the Waterloo Estate and at Napier and New Plymouth and Solar, Serena and Sunrise. The whole project is expected to be delivered over the next 12-15 years.