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Some large, exciting developments are happening across London, and these smaller developments are bringing about crucial additional sites to address the London housing crisis.
The programme means that smaller HAs can benefit from L&Q’s expertise and economies of scale, and L&Q carries most of the development risk. After completion, the HA can acquire the site at cost price from L&Q.
We’re helping L&Q to bring in, build out and sell on affordable housing sites across London, taking the risk out of purchasing new sites for these buyers and liaising with the buyer’s solicitors.
The work is conducted by our social housing team who operate across the UK and deliver a wide range of services for L&Q, ranging from tax and planning to construction and development, helping L&Q to deliver a strong pipeline of sites.
We are also supporting L&Q’s partner associations with any post-purchase issues, helping these smaller teams to progress with making this vital new housing available.
L&Q has now engaged 43 partners with the programme, and has reviewed opportunities across all 33 London boroughs. It aims to start 600 new homes under the scheme by March 2022.
Shazia Bashir, lead partner on the project, says: “It’s been a real pleasure to support L&Q with this genuinely inventive approach to unlocking new affordable housing across London.
“Having just completed our third sale under the scheme, we can see how important this kind of disruption is to the future health of the London housing market.
“Housing supply is falling behind demand, but these sites can add up to a significant stock of affordable housing and make a real difference.
“It’s been a UK-wide effort to bring a range of different services together and to flex our team in response to the needs of each site, and we’re looking forward to continuing to support L&Q.”
01 December 2020