Hammersmith and Fulham Council announces joint venture with Stanhope
Fri 18th October 2013, 4:19 pm
The London Borough of Hammersmith and Fulham has entered a 50:50 joint venture with Stanhope to deliver more than 300 new homes over the next five years, including 100 low cost homes.
The council and Stanhope will share the development profits. Developers Berkeley Group and Barratt London are being held by the council as reserve bidders.
Initially two sites have been identified as suitable for residential redevelopment: Watermeadow Court Estate and Edith Summerskill House
Council member for housing Andrew Johnson said, “The key to solving this country’s housing crisis lies partially in the hands of local authorities who have the ability use their land assets much more astutely and proactively to drive forward development, housing supply and economic growth.
"If other councils were to follow our lead, schemes such as this could deliver tens of thousands of much-needed new homes across the country.”
Full press release