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 £100m housing fund which he says will support “thousands of jobs in the capital’s construction industry”.

This will see 27 organisations sharing £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, ‘rent-to-save’ and ‘part-buy-part-rent.’

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

The allocations in full are as follows:

Provider name                           Proposed allocation     Homes to be delivered  

  • A2Dominion Housing Group Ltd      £2,450,000                              70     
  • Affinity Sutton Group Ltd                  £1,661,450                            64     
  • AMICUSHORIZON LTD                   £1,092,000                              42     
  • Asra Housing Association Ltd            £800,000                                40     
  • BDW Trading Ltd     (Barratt)             £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 Limited      £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 Trust       £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

Johnson said: “Boosting construction and improving the housing options of hard-working Londoners is critical to this city’s economic success.

“There 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.”

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 £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.