Hot on the heels of Newham’s Red Door Ventures and Croydon’s Brick by Brick comes another local authority-owned housing development company – Hounslow’s Lampton 360.
Lampton Development, part of Lampton 360, will redevelop surplus local authority land with residential and mixed-use projects.
The first phase of development will encompass 11 sites providing up to 844 homes − 40% of which will be affordable, 40% for private sale and 20% for private rent.
A planning application was recently submitted for the first site, Nantly House on Lampton Road, which will provide 77 homes in total with 31 for private sale, 15 for private rent and 31 affordable (including 19 social rent).
The site is currently owned by Hounslow Council, but will be transferred to Lampton 360.
Local authorities have realised the only way to add social rent homes to their borough’s housing stock is to do it themselves. Hounslow’s example shows a mixed-tenure approach is the way forward − units for private sale aid upfront capital receipts, while units for private rent part-subsidise the affordable element and bring in a steady income for the council.
Howard Wollaston, chair of Lampton 360, said: “I am delighted that this project is moving forward, using local authority surplus land to provide much needed housing and meet increasing demand in the borough.”
