Hill and Hanover have announced a Joint Venture partnership on £25.7m project in North East London to deliver 72 new properties and 550m² of retail space to Newington Green.
Housebuilder Hill and Hanover, one of the largest specialist providers of retirement housing in the UK, have announced a 50:50 joint venture partnership which will deliver 72 new homes in Newington Green, North East London.
The £25.7m development is the third joint venture to be announced by the partners. The 32 properties available for private sale at Newington Gate will be designed to suit first time buyers, whilst the 28 affordable rent homes will be developed exclusively for the over 55’s. Newington Gate will also bring 12 shared ownership homes to the local area.
The partners previously delivered 159 mixed-tenure homes at Woodside Square in Muswell Hill along with 29 apartments available exclusively to over-55s at Quadra in London Fields and 43 extra care dwellings at Clapton Common.
Paul Jordan, Regional Director of Hill, commented: “We are delighted to be working with Hanover to deliver another joint venture project together in London. Developing underutilised land is key to delivering much needed homes across the Capital and we are proud that 56% of the homes at Newington Gate will be affordable. Multi-generational living has numerous benefits for both younger and older residents, and whilst it is growing in popularity across London, developers have a responsibility to encourage this where possible by providing suitable housing.”
Claire Anderson, Director of Development at Hanover said: ‘‘Hill is an award winning and trusted housebuilder, with whom we have already worked on a number of new developments in London with. We are delighted to be collaborating with them once again. This will help us deliver much needed high quality, affordable housing and a great new space for the local community.”
Sales at Newington Gate are expected to launch next year, with the first homes expected to be complete in summer 2020.