Hill and Origin Housing have announced a new strategic joint venture partnership to deliver 116 new homes in Harrow.
The land, previously occupied by office buildings, was purchased by Origin and regeneration of the brownfield development will be a 50/50 joint venture between Origin and Hill. Construction has already begun and once complete the development will comprise 69 one and two bed apartments for private sale. It will also be home to 18 private rental properties and 29 shared ownership homes which Origin will manage. The gross development value for both the private and affordable housing is £46m.
David Eardley, Regional Managing Director of Hill, comments: “We have previously worked with Origin, and we’re delighted that this will be our first joint venture with them. It has long been an ambition to deliver a project with them and these new homes represent a new chapter in the wider regeneration of Harrow.
“London is a key growth area for Hill and to fill the demand for new homes in the capital we are increasingly working in partnership with housing associations, such as Origin. These organisations are making a real step change in the way they do business. They understand that the key to accelerating and upscaling the delivery of housing is pooling risk and expertise with private housebuilder partners. Hill is already on the ground delivering a number of these developments and we plan to announce more in the coming months.”
Gareth Jones, Development Director of Origin Housing, comments: “Origin is pleased to announce our first Joint Venture working in partnership with Hill. This new housing development will replace dilapidated office buildings and actively contribute to the regeneration of South Harrow. We have managed to include 41% affordable housing in the scheme to make a bigger contribution to meeting housing need in the local area. Origin is making a concerted investment into the Harrow Housing Zone with two sites of 200 homes each also proceeding.”
The new development is part of Harrow London Borough Council’s £1.75bn regeneration drive for the area and Origin and Hill plan to develop more projects in Harrow, on the same basis, in the coming years.
Sales are expected to launch at Northolt Road in 2018, with the first homes expected to be complete in spring 2019.