L&Q unveils £15bn building plan after mega-merger

Aaron Morby 8 years ago
Share

L&Q and East Thames housing associations have completed their mega-merger and sealed a £2.6bn financing package to fund an ambitious house building plan.

Barking Riverside indicative masterplan, subject to change

L&Q has pledged to up construction rates at Barking Riverside to 600 homes a year

The newly-merged housing association has unveiled plans to invest £15bn over the next 10 years on a massive building programme in the south east.

Previously both organisations had a combined 43,000 development pipeline. After the merger this will more than double to 100,000 new homes, with half being genuinely affordable to people on average and lower incomes.

Both L&Q and East Thames already have a strong presence and track record in the South East. 

Both see East London and Essex as strong growth areas in the future. Current long-term sizeable projects include Barking Riverside, Purfleet, Beaulieu, Weavers Quarter and the Ocean Estate.

David Montague, group chief executive, said: “The current Government talks about increasing housing of all tenures, not just home-ownership, and is focussed on long-term targets that stretch beyond the next election.

“With long-term planning we can make long-term commitments, and we share the Government’s determination and ambition to deliver a step change in housing.

“We have the ambition and the capacity to build quality homes, fit for the future, across multiple tenures at a greater scale than ever before.”

Since the intention to merge was announced back in April, a partnership also has been established with Greater Manchester-based Trafford Housing Trust.

Further geographical expansion will be pursued where appropriate as the new merged entity looks to develop more partnerships.

The merged entity is a significant and active operator in the land market, with £800m invested in 103 sites and a pipeline which trebled in the last year to 43,370 units.

The combined organisation owns and manages over 90,000 homes across the UK, worth £22bn.

 

Latest news

Cardo in talks to buy Breyer roofing arm

More than 100 jobs could be saved at Breyer Roofing
3 hours ago

Quartet win £750m Wales & Western railway deal

Network Rail confirms partners for Reactive and Minor Works framework
3 hours ago

Plans in for £350m London Bridge life sciences hub

Snowsfields Quarter will consist of three buildings containing labs
4 hours ago

Surging labour costs push tender price forecast up

Pick-up in tender prices despite weak growth
4 hours ago

Permasteelisa wins cladding deal on Multiplex city tower

Facade specialist wins work on Fenchurch Street ‘hanging gardens’ tower
3 hours ago

Wates wins fit-out for Manchester First Street Hub

Smartspace arm secures another Government hub deal
1 day ago

Peel Ports reveals winners for £750m framework

18 firms win places on deal: Full list
1 day ago

Big trade names dropped in M Group rebrand

Acquisitive group formed from Morrison Utility services in 2016
22 hours ago

Breyer Group files administration notice

Staff hope rival firm could buy assets and save jobs
1 day ago

Former Severfield director takes helm at Embrace Steel

New CEO Martin Kelly aims to step up expansion of steelwork contractor
1 day ago

£302m upgrade funding awarded to FE colleges – list

Cash shared out between England’s 179 college groups
1 day ago

FK Facades thrives but construction arm hit by ISG row

Dispute with failed contractor costs specialist £5.5m
1 day ago

Galliford Try gets go-ahead for Milton Keynes PRS tower

33-storey tower needs gateway 2 approval before work can start
2 days ago

Small house builders get £150m funding for green homes

Developers will have to meet-up to ten new criteria to benefit from interest rate discounts
1 day ago

Lendlease Construction renamed Bovis

US private equity firm completes £35m purchase of UK contracting business and rebrands
2 days ago

Breyer Group battles for survival as rivals circle

Housing maintenance firm fights three winding up petitions in a month
2 days ago

Careys facing £2.4m claim by developer over demolition cartel

Giant Hong Kong developer claims it was overcharged on Lots Road Power Station job
2 days ago

Multiplex profit drops a third as revenue rises to £780m

Spate of new orders sets contractor up for three years of work
2 days ago

Galliford Try and Breheny land latest Sizewell C road deals

More infrastructure deals for new nuclear power station
3 days ago

Worker trapped in collapsed septic tank pit

Contractor and director fined after worker suffers multiple fractures
2 days ago

Homes England buys stalled Broad Marsh site

Demolition to finally be completed as developer hunt begins
3 days ago

Vistry go-ahead for 353 homes at Rochester Riverside

Work to start on next phase of Kent town regeneration at end of this year
3 days ago

M&E firm J S Wright collapsed owing £19m

Trade creditors hit for £11.4m by employee-owned Midlands firm
3 days ago

Right to work checks to be extended to self-employed

Government plans crackdown on illegal working and rogue employers
3 days ago

Midlands developer turns to London with £1bn resi schemes trio

SevenCapital plans 1,000 flats in Kensington, Islington and the Isle of Dogs projects
3 days ago

Deck falls off huge scissor lift at Winvic site

Two men seriously injured as platform plunges to the ground
6 days ago

Weston targets Build to Rent with new division

Weston Partnerships signs first deals with asset managers and councils
3 days ago

Bouygues seals deal for £119m Cardiff college campus

Construction to start in June on two new buildings
6 days ago

£140m cash injection to speed-up flood defence schemes

Funding part of £2.65bn investment over the next two years
3 days ago

Bid race starts for £15bn schools framework refresh

DfE throws framework open to more contractors
6 days ago

Contractor services