U+I ONE OF 29 PANEL MEMBERS SELECTED AS PART OF LONDON MAYOR’S PLAN TO SPEED UP HOUSING DELIVERY.
LONDON, 17-Aug-2018 — /EuropaWire/ — The Mayor of London, Sadiq Khan, has today named specialist regeneration developer and investor U+I as a member of his new London Development Panel (LDP). The LDP will provide a network of developers, housing associations and contractors that public bodies can work with to accelerate the development of public land for housing delivery.
As a member of the LDP, U+I will have the opportunity to bid to develop a range of publicly-owned sites across London. It is expected the LDP will be used to procure and bring forward up to £20 billion worth of development land over the next four years. A total of 29 developers, housing associations and contractors have been announced as members of the London Development Panel, replacing the first London Development Panel, which expired in 2017. London Mayor Sadiq Khan’s draft London Plan identifies capacity for 65,000 new homes a year and the panel aims to support delivery of these homes across London by working with public bodies to bring forward land for development.
Matthew Weiner, CEO of U+I, said:
“Developing unused and underused public-sector land is key to delivering the homes and facilities Londoners need. We’re proud to be named a member of the LDP, giving us a unique and exciting opportunity to unlock this untapped potential across the capital. We have long been advocates of Public Private Partnerships as a means of releasing sites for development whilst ensuring that assets are retained in public ownership. We look forward to bringing our knowledge and expertise to the panel in order to support the Mayor of London in his aims for housing delivery.”
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Notes to Editors
This new LDP replaces the first London Development Panel which expired in 2017
The panel will run for a period of four years, with the potential to extend by one year.
Over its four-year lifespan it is anticipated that the LDP may be used to procure up to £20 billion of Development, measured in GDV.
Through the LDP, TfL will soon bring forward three car park sites in the London Borough of Harrow (Canons Park, Rayners Lane & Stanmore), and will deliver 100 per cent affordable housing within these developments.
City Hall has also purchased a large part of the site of St Ann’s Hospital in Haringey from the NHS. Plans for the site are being developed with the local council and local community, and this site is expected to be put through the LDP for residential development with at least 50 per cent genuinely affordable housing.
In addition, the Enfield Council will bring forward Meridian One through the new LDP. This site is next to the forthcoming Meridian Water station and will deliver up to 725 homes along with 25,000 sq ft of commercial space and leisure facilities. City Hall is working closely with the council to deliver 35 per cent affordable housing across the entire Meridian Water development.
The LDP can offer:
A faster way of selecting a development partner compared to other procurement methods;
A comprehensive range of development services;
New flexibilities around how Panel Members can bid in mini-competitions;
Potential cost savings through its mini-competition process and standardised set of contracts;
Use for both development and contracting opportunities in Greater London.
It is available, free of charge, to public landowners and Registered Providers who sign an Access Agreement with the GLA.
U+I is a specialist regeneration developer and investor.
With a £6bn portfolio of complex, mixed-use, community-focused regeneration projects including a £200m investment portfolio, we are unlocking urban sites bristling with potential in the London, Manchester and Dublin city regions. We exist to create long-term socioeconomic benefit for the communities in which we work, delivering sustainable returns to our shareholders.
To find out more, visit www.uandiplc.com or follow us @uandiplc
SOURCE: U and I Group PLC