Canning Town Package Deal Completed
The construction and delivery of new affordable homes continues to be high up the political agenda, particularly within Greater London. With most new developments now needing to provide at least 35% affordable homes on site, Registered Providers remain one of our most active sectors for our development site transactions.
Whilst we sell land directly to RP’s, we often facilitate “package deals” whereby the land is sold with a construction contract in place to deliver the scheme, which manages risks for the RP and maximises value for the land owner.
Following our unconditional acquisition of the former Kwik Fit site in Canning Town E16, we co-ordinated a planning consent for 17 new homes and recognising that the scheme offered best value as a fully affordable development, set about arranging a sale. The transaction was completed in March 2020 to a collaboration of two RP’s and a contractor, who will deliver the £5m+ scheme.
If you own site which may be suitable for an Affordable Housing provider, or if you are a contractor interested in similar package deals, please contact a member of our team
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