Keepmoat wins £50m regeneration bid

by: Heather Greig-Smith
  • 21/12/2016
  • 0
Keepmoat wins £50m regeneration bid
Developer Keepmoat is to build 195 luxury homes in a £50m scheme in the City of Westminster.

Keepmoat has been appointed by Latimer, part of the Clarion Housing Group, to deliver the units for open market sale, affordable home ownership and social rent in Maida Vale.

The Tollgate Gardens scheme consists of a range of one, two and three bedroom apartments and four bedroom duplex units.

Originally built in the 1960s, the estate was identified as a priority regeneration project in Westminster City Council’s Housing Renewal Strategy in 2010. The existing low-rise blocks will be demolished to make way for the new high quality apartments. The mix of the scheme is 50% open market sale, and 50% affordable home ownership and social rented homes.

Additionally, 50% of the scheme is being sold back to Westminster by Latimer and approximately £20m created from the open market sales will be reinvested to support the remaining estate improvement works, including the remodelling of the 11-storey Tollgate House and community centre.

Dan Germann, regional managing director at Keepmoat, said: “This project is showcasing our ability to build high-end, mixed tenure, social rent, affordable and private sale homes at large scale, in an area where people genuinely want to live and where homes of all kinds are in increasingly high demand.

“We have a demonstrable track record of delivering large scale regeneration projects in partnership with local authorities and housing associations; and so are perfectly placed to work with Latimer and Westminster City Council on this ground-breaking scheme.”

Kerry Kyriacou, group director of development at Latimer, part of the Clarion Housing Group, said: “Building for market sale is fundamental in enabling us to fulfil our core social purpose.

“This large-scale project demonstrates our ability to work flexibly to facilitate affordable housing. We are looking forward to working closely with Westminster City Council and Keepmoat to bring forward high quality new homes, community facilities and green spaces in this part of the city.”

The redevelopment of Tollgate Gardens will provide 248 homes overall: 195 new homes and 53 refurbished.

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