Housing minister Kit Malthouse is set to confirm that Homes England and Barclays Bank have agreed £155.3m of loan funding to speed up the construction of hundreds of homes in Wimbledon and Southampton.
The news will be formally announced later today during the Malthouse’s keynote speech at the Chartered Institute of Housing’s 2019 conference in Manchester.
The deals are the first to be agreed from the £1bn Housing Delivery Fund, which was announced by the housing secretary James Brokenshire and former Barclays chairman John McFarlane in September last year.
Malthouse said: “Innovations are key to unlocking the next generation of homes and our Housing Delivery Fund – a £1bn partnership between Government and Barclays – is a great example of the new approaches we’re taking to get more homes out the starting blocks.”
In Wimbledon, a total of £150m will be loaned to Merton Catalyst LLP, a joint venture between housing association Catalyst and developer Galliard.
The funding will be used to help bring forward 604 apartments on the residential-led scheme at the former Wimbledon Greyhound Stadium site in Plough Lane (pictured). The mixed-use development will also include commercial space, improved public realm and a new sports stadium delivered by AFC Wimbledon.
In Southampton, Cannon Capital Developments will receive a £5.3m loan to convert a former commercial building into 56 apartments for private sale in the city’s Ogle Road.
The Housing Delivery Fund was set up between the government and Barclays Corporate Banking to provide £1bn of loan finance to open the housing market and help SME developers to deliver new homes across the country.
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