Wates Residential set to build £1billion joint venture for 3,000 new homes: Havering Council

Havering’s existing council accommodation will see a complete overhaul, with council rented accommodation increasing by 70pc and the building of 400 low-cost home ownership properties.

The new partnership with Wates Residential will see the council’s current stock of 856 homes replaced to create 3,112 homes of mixed tenure and the amount of affordable housing on the 12 estates will double.

Phase one of the project will start in 2019 on the Waterloo Estate in Romford, New Plymouth Estate in Rainham and the Serena, Solar and Sunrise Court in Hornchurch.

Other sites on the Estate Regeneration Programme include the redevelopment of Royal Jubilee Court in Gidea Park as an older persons’ village, the demolition and redevelopment of Brunswick Court in Cranham as an extra sheltered housing scheme and total regeneration of the Oldchurch Gardens estate in Romford.

Working with Wates, the council predicts the social value benefits from phase one of the project will be worth around £6.8m.

Councillor Roger Ramsey, leader of Havering Council said: “This is the most exciting and ambitious council home building programme in London, and I’m confident our new partner will be able to help us deliver our future vision for the borough.

“Forming this joint venture will allow us to provide high-quality new home for existing residents and young people who want to stay in the borough.
This, together will the arrival of Crossrail, and plans for two dedicated housing zones, means developers, businesses and residents will all want to be part of a future Havering.”

Funding for the project will come through the council’s Housing Revenue Account (HRA), Wates Residential and the Greater London Authority (GLA).
Havering will receive £33m grant monies from the GLA to deliver new estates where 40pc of homes will be affordable.

The council’s plans include the creation of a Construction Academy through a partnership with Havering College and the Construction Industry Training Board, and a plan to deliver around 165 apprenticeships over the life of the scheme.

Furthermore, the regeneration plan includes a comprehensive programme of community initiatives for the borough.Commitments include apprenticeships, skills and experience, schools curriculum support, and investment in local communities and facilities.

In addition, Havering Council explained that the new homes will be energy efficient, with many having solar panels installed to help keep fuel costs down for residents.