HUB revives stalled Croydon resi schemeFri 22 Jul 2016
Croydon enlists award-winning developer to deliver hundreds of mid-market homes
The London Borough of Croydon has appointed an award-winning developer of mid-market homes to deliver its Taberner House site.
The former council HQ will be transformed into 500 new homes for sale and rent aimed at middle-income workers by HUB, a leading London-based developer. The company, crowned Developer of the Year at Property Week’s RESI Awards in May, now has a pipeline of more than 1,700 homes across the capital.
Specialising in creating beautifully designed, low energy, developments aimed at fostering a real sense of community. HUB with its funding partner Bridges Ventures, a social impact investor, will create around 500 homes, as well as deliver a revamp of The Queen’s Gardens.
This is the fourth major collaboration between HUB and Bridges Ventures: the two partners are also delivering 239 homes in Wembley, 243 homes in Hayes (with Fizzy Living), and 200 homes in Abbey Wood.
Stirling Prize-winning architects AHMM have been invited to draw up new plans for the scheme, and, subject to planning approval, construction will begin next year.
The development is expected to include a mixture of housing for sale and for rent, together with a significant amount of affordable housing, sat above 13,000 sq. ft. of employment and commercial space. It promises to continue Croydon’s journey of regeneration, attracting families and young professionals into the area.
HUB’s RESI award earlier this year was granted in recognition of its pioneering housing schemes – pushing the boundaries in terms of both design and deal structuring, as well as partnering with key housing investors like Fizzy Living and M&G Real Estate.
Its first scheme, Hoola London in the Royal Docks, is striking in both its architecture, and it’s approach to environmental sustainability – with an innovative energy-sharing arrangement with the nearby Excel Exhibition Centre, as well as a technology partnership with technology giant Siemens. Named after winding the rippling glass balconies of its two towers, Hoola offers 360 high-spec homes just minutes away from Royal Victoria Dock DLR station.
With central London only a short train journey away, and Gatwick Airport not far in the other direction, HUB sees Croydon as an area which is perfectly placed for their brand of exciting, design led development, aimed at Londoners who feel let down by the capital’s property market.
Cllr Alison Butler, cabinet member for homes, regeneration and planning, said:
“We’re delighted to be welcoming HUB to Croydon. They come with an impressive reputation for great design, sustainability and working with local communities.
“As well as bringing a fresh and exciting approach to residential building in the town centre, and providing much-needed quality homes that are within reach of local people, they’ll be revitalising The Queen’s Gardens.
“That development teams of this stature continue to come to Croydon, post Brexit, shows the continued confidence in London’s growth borough as a great place to invest.”
Steve Sanham, development director at HUB, said:
“There’s a real ‘can-do’ attitude in Croydon at the moment, and we’re really excited to now be part of it. Taberner House, right in the heart of the Borough, promises to create a new thriving community while reinvigorating a well-liked park. Great transport links, a strong existing community, and a pipeline of development and regeneration which is difficult to match, means that Croydon has all the necessary fundamentals to be a vibrant and sustainable part of a thriving London.”
Simon Ringer, partner and head of property funds at Bridges Ventures, said:
“Building accessible accommodation for ordinary workers is a major long-term challenge for the Greater London area, so developments like these can have a really positive social and environmental impact. Our three previous collaborations with HUB have shown it’s possible to deliver both vital new housing and attractive public spaces that serve the needs of the local community; we hope to draw on this experience to do the same for the people of Croydon.”
Original source: Property Week, 21st July 2016