A development agreement has been signed by the GLA that will see Thames Valley Housing’s joint venture with Galliford Try plc, Opal Land, deliver the Silvertown Way development in Canning Town, East London.
This large regeneration scheme will deliver over 1,100 mixed tenure homes, with an approximate gross development value of £380 million. This makes it the largest standalone housing scheme undertaken by the joint venture between TVH and Galliford Try, formed in 2013 and named Opal Land.
A third of the homes will be built as market rent for TVH’s subsidiary, Fizzy Living. The rest will be split evenly between affordable rent and private sale.
Geeta Nanda, CEO of TVH said “We’re thrilled to be delivering this important regeneration scheme. As well as being of significant benefit to the local area in Canning Town and providing the variety of tenures London needs, this is the fifth joint enterprise that we’ve secured through Opal Land. Schemes like this are incredibly important investment opportunities for us, as the profits from such corporate ventures provide cross subsidy for us to plough back in to developing more affordable homes throughout the South East.
It’s also very encouraging that the GLA are supporting build to rent schemes, like Fizzy Living. This is a sector that needs to grow so that the many Londoners unable to buy, but who want rent a good quality home from a trusted landlord are properly provided for. ”
Notes to Editors
If you would like more information about Thames Valley Housing, please contact Jenny Sandford, Communications Manager, on 020 8607 0879 or email her: email@example.com
You can also find out more about TVH by going to www.tvha.co.uk Follow TVH on Twitter @ThamesValleyHA
About Thames Valley Housing Association:
Thames Valley Housing is based in Twickenham, West London and delivers housing for a wide range of people. Founded in 1966, the association manages and administers over 15,000 properties in London, Middlesex, Berkshire, Surrey, Hampshire, Oxfordshire, Buckinghamshire, Wiltshire and Sussex. Thames Valley Housing aims to meet the aspirations of all our customers and residents, helping them to get the home they want or need at the outset, providing further opportunities to move or buy later should they wish. It provides affordable rented homes, HomeBuy, market rent and key worker accommodation, including the staff accommodation for eight NHS Trusts.
About Galliford Try:
Galliford Try plc is a leading UK housebuilding and construction group. It is listed on the London Stock Exchange and a member of the FTSE 250. The housebuilding business – through its Linden Homes and Galliford Try Partnerships brands – sells distinctive homes to the public and affordable homes to housing associations and local authority providers. The construction business carries out building and infrastructure work across the UK with clients ranging from major Government departments through to regulated utilities and private sector companies. At the end of the last financial year to 30 June 2013, the Group generated revenues of £1.5 billion.