Member Article

Kier consortium preferred bidder for £80m housing development

Evolution, a consortium between Kier Project Investment and Thames Valley Housing, has been named as the preferred bidder to develop an £80m housing scheme by Woking Borough Council.

Subject to planning consent, a 9.5 hectare site near Moor Lane, Woking, will be developed to create 373 new homes. Of these, 224 will be available as affordable social rented housing and the remaining 149 homes will be for private sale. Kier will construct the properties and Thames Valley Housing will manage and maintain the social housing over the 25-year contract. A detailed planning application is expected to be submitted at the beginning of next year and, subject to consent, construction work will commence during the year.

Commenting on the announcement, Cllr David Bittleston, chairman of Woking Borough Council’s PFI Project Board, said: “I am delighted to announce Evolution as our preferred bidder for the Priority Homes housing development. There are many local people on our Housing Register waiting for decent, affordable social housing. This project will significantly help them and contribute to meeting the Council’s Housing Strategy through a step-change in the provision of affordable housing within the Borough.”

Nigel Turner, managing director of Kier Property, added: “We are thrilled to have been selected by Woking Borough Council to bring forward our exciting plans to create 373 new homes. The mixed tenure development will play an important part in addressing the area’s housing shortage and we look forward to working with Thames Valley Housing to progress the development.”

Geeta Nanda, CEO of TVH, said, “In the present economic climate, demand for housing far outstrips supply and the lack of bank finance has severely restricted house-builders’ ability to bring forward new properties. This has contributed to a housing crisis of national proportions and now, more than ever, housing groups have a greater responsibility of finding ways to work with both the private and public sector to increase the supply. The provision of affordable housing has never been more important or necessary and our ability to deliver on projects of this kind has played a large factor in winning this significant contract.”

Evolution’s team of professional advisors included PRP Architects, Tully De’ath (engineering), Trowers & Hamlins (legal) and Grant Thornton (financial).

This was posted in Bdaily's Members' News section by Rachael Hunter .