Thames View East wins at the Housing Innovation Awards – Most Innovative Affordable Housing Scheme
The Housing Innovation Awards celebrate everything innovative in the UK housing sector, showcasing the most innovative housing providers, projects & supply-chain partners. Roger Holdsworth, PTE and Roger Lawson, Jerram Falkus Construction collected the award at the annual gala dinner at Covent Garden’s Grand Connaught Rooms.
The new homes at Thames View East are 100 percent affordable rent, and are so popular that each phase has been occupied within the day of release – and yet this is achieved without grant-funding or cross-subsidy from private sales. This is the outcome of a novel investment model devised by asset management specialist Long Harbour.
Under the long-term investment model, the Council has granted a lease over their land for a fixed period to a private joint-venture funder. The joint venture body has financed the construction of the scheme and will cover all lifecycle and maintenance costs in return for a regular income derived from rental receipts. The Council retains the freehold interest in the land, and will receive ownership of the properties (at no extra cost) at the end of the investment period.