£72.6million partnership deal to deliver new mixed tenure homes across Crest Nicholson’s Walthamstow and Surrey developments.
Crest Nicholson and Southern Housing Group have announced a new £72.6 million partnership across three of the award-winning developer’s sites in Walthamstow and Surrey. The three developments will deliver 877 homes in total of which Crest Nicholson will deliver 205 new homes for Southern Housing Group, including private rented sector properties (PRS), section 106 affordable housing and additional intermediate housing.
The two organisations are long standing partners, with previous developments including Upper Longcross in Surrey, Centenary Quay, Southampton and Artisan in Hove. The extension of this partnership now sees Southern Housing Group pre-purchase homes at Longcross Garden Village, Longhurst Park Cranleigh and The Essex Brewery site in Walthamstow.
Chris Tinker, Interim Chief Executive at Crest Nicholson, commented: “Our continued partnership with the Southern Housing Group will ensure that we’re able to fulfil our ambitions to deliver thriving mixed tenure homes and sustainable communities across Walthamstow, Cranleigh and Longcross.
Partnerships will continue to form a major part of our growth strategy as we look to diversify tenures and accelerate construction and sales across a number of our key developments. In addition, these partnerships enable us to better respond to the government’s new home targets and provide much needed additional affordable and intermediate housing in communities across the country.”
At Longcross Garden Village near Chobham, Crest Nicholson will deliver the second phase of 78 dwellings, of which 12 have been acquired by Southern Housing Group for section 106 affordable homes and 23 as additional intermediate homes.
At Longhurst Park in Cranleigh, Crest will deliver 119 on its second phase with Southern Housing acquiring 36 affordable homes and 43 additional intermediate homes, whilst at Essex Brewery in Walthamstow, Southern have acquired 91 of the 183 apartments for private rent.
Alan Townshend, Chief Executive at Southern Housing Group said, “Southern Housing Group has partnered with Crest Nicholson since 2016. It’s a relationship based on a shared commitment to the communities that, between us, we help to create and sustain. Southern Housing Group invests in making people’s lives better, in particular by providing new and affordable homes in desirable locations. This new agreement with Chris and his colleagues at Crest Nicholson, is an important step towards our goal, which is to increase the number of people who have good, quality housing that is truly affordable.”