sheffield housing company a joint venture housing and … · 2019-01-16 · what is sheffield...

SHEFFIELD HOUSING COMPANY

A Joint Venture Housing and Regeneration Company

Why Sheffield Housing Company?

Undesirable neighbourhoods leading to housing market failure.

Why Sheffield Housing Company?

Re-think

Re-plan

Regenerate

Why Sheffield Housing Company?

Desired outcomes:

Improved Neighbourhoods:Building a range of homes to facilitate the long term regeneration of Sheffield’s residential suburbs while contributing to the strengthening of the local economy.

Delivery of High Quality Homes as a catalyst for change:Greater control over the delivery of high quality, sustainable new homes in Sheffield, at a greater pace than previously achieved under other initiatives.

SHC Values: Delivering Quality

Investing Locally

Valuing Our Environment

Championing Inclusivity

What is Sheffield Housing Company?

Company Set Up :

• Concept and planning 2007.

• May 2009 Competitive Dialogue process began to find a partner.

• 5 companies invited to bid from 90 interested parties.

• Negotiations concluded in January 2011, company established July 2011.

SCC

LAND

KGP

CASH

Land is

matched by

EQUITY

NEW HOMES

Repayment of

Land Value

Repayment

of Equity

SHC

50:50

SCC : KGPBorrows development

finance

Division of

SurplusDivision of

Surplus

SHC – Sheffield

Housing Company

KEY

KGP – Keepmoat

Great Places

What is Sheffield Housing Company?

Delivery Mechanism:

SHC SCC

Report to Members

ShareholdersSCC

KGP

Board3 SCC Directors

3 KGP Directors

Management Team

Employed Directly by SHC

Project Teams

(Design

Development &

Construction)

Working

Groups

(Policy/

Stakeholders)

KEY

SHC Strategic

Partnership Board

Landowner

Operations Board

What is Sheffield Housing Company?

Progress to date…

680 new homes:

534 open market sale, 84 affordable rent,

36 shared ownership, 26 private rent

Phase 1: COMPLETE

3 sites, 293 homes in total, 80% Open Market Sale, 20% Social and Affordable Rent.

Phase 2 & 3: UNDER CONSTRUCTION

7 sites, 811 homes, 64% Open Market Sale, 3% Affordable Rent, 3% Shared Ownership, 30% Private Rent.

Phase 4: PLANNING

5 sites, 314 homes, 90% Open Market Sale, 10% Shared Ownership.

1 site with Planning approval, remaining 4 sites due for submission early 2019.

Phases 5 & 6: PRE- PLANNING

9 sites, 640 homes, 90% Open Market Sale, 10% Shared Ownership.

Planning submissions mid-late 2019.

Neighbourhood impact: customer data

Neighbourhood impact: customer data

Neighbourhood impact: customer data

Norfolk Park

Initial Sales Price Latest Sales PricePercentage

Increase

2 Beds £130,000 (Jun 13) £168,000 (Jun 18) 29.2%

3 Beds £150,000 (Mar 13) £205,000 (Jan 19) 36.6%

• 220 homes/apt, OMS/AH/PRS - complete

• 77 homes, OMS/PRS – under const.

• 145 homes/apt, plus retail - commence 2019

• £0.4M investment in parks - 2018

Neighbourhood impact: private sector confidence

Initial Sales Price Latest Sales PricePercentage

Increase

2 Beds £103,000 (Jan 13) £131,000 (Oct 18) 27.2%

3 Beds £118,500 (Feb 13) £162,000 (Jun 18) 36.7%

Parson Cross

• 264 homes, OMS/AH scheme – complete

• 106 homes, OMS scheme – commence 2019

• 195 homes, OMS/ scheme – 2021

• £70M retail development –complete

• £5M school investment – complete

• £1.1M investment in parks – under construction

Neighbourhood impact: private sector confidence

Economic impact: Business, jobs and training

610 FTE Jobs Created

60 Apprenticeships

Longevity of Build: 6 years Contract Value Let: £119M

Active sites: 4-6

Since 2012, SHC has invested over £100M with businesses in the city region, over £45M with SMEs.

Economic impact: council income generation

Cutler’s View Norfolk Park Sheffield

Cutler’s View Norfolk Park Sheffield

Earl MashalFir Vale Sheffield

Brearley ForgeParson CrossSheffield

Brearley ForgeParson CrossSheffield

SHEFFIELD HOUSING COMPANY

A Joint Venture Housing and Regeneration Company

John Clephan, Project DirectorEmail: johnclephan@sheffieldhousingcompany.co.ukTel: 0114 273 0119