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.
What is Sheffield Housing Company? Delivery Mechanism : SCC KGP LAND CASH Land is matched by Repayment of Repayment EQUITY Land Value of Equity SHC Division of Division of 50:50 Surplus Surplus SCC : KGP Borrows development finance KEY SHC – Sheffield Housing Company NEW HOMES KGP – Keepmoat Great Places
What is Sheffield Housing Company? SHC SCC Shareholders Report to SHC Strategic SCC Members Partnership Board KGP Board 3 SCC Directors 3 KGP Directors Landowner Operations Board Management Team Project Teams Working (Design Groups Development & (Policy/ Construction) Stakeholders) KEY Employed Directly by SHC
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
Neighbourhood impact: private sector confidence Norfolk Park • 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 Percentage Initial Sales Price Latest Sales Price 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%
Neighbourhood impact: private sector confidence 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 Percentage Initial Sales Price Latest Sales Price 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%
Economic impact: Business, jobs and training Longevity of Build: 6 years Contract Value Let: £119M Active sites: 4-6 610 FTE Jobs Created 60 Apprenticeships 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 Mashal Fir Vale Sheffield
Brearley Forge Parson Cross Sheffield
Brearley Forge Parson Cross Sheffield
SHEFFIELD HOUSING COMPANY A Joint Venture Housing and Regeneration Company John Clephan, Project Director Email: johnclephan@sheffieldhousingcompany.co.uk Tel: 0114 273 0119
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