Harrow council and Wates to form JV for 1,500-home regeneration project

Harrow council has confirmed Wates as its partner in a joint venture to deliver a 1,500-home regeneration project.

The west London council will now move to set up the Harrow Strategic Development Partnership (HSDP) with Wates, following a decision by its cabinet on Thursday.

The joint venture will develop three “underused” brownfield sites in the Wealdstone area and aims to build 1,575 homes including 116 for private rent, 404 affordable rent and 243 shared ownership. The project will also develop a new civic centre and commercial space. The HDSP will be 50:50 owned by Wates and Harrow council with both parties investing £38.4m of equity, including the council-owned land. Returns are projected at £60.39m.

See also: Exclusive: Wates lined up to take on Brick by Brick build out

Graham Henson, leader of Harrow council, said: “We are committed to doing all that we can to meet Harrow’s future needs within our existing developed environment. That means using sites like these much more efficiently.

“By making this commitment, we can protect our precious greenbelt and ensure that the development proposals we bring forward are appropriate, sustainable and backed by investment in infrastructure.”

The three sites are Poets Corner, to the south of Harrow and Wealdstone Station, Peel Road, to the north of the station and phase 1 of Byron Quarter is a 3.7acre site in the south eastern corner of the Byron Quarter Masterplan area.

The council’s decision comes a week after Housing Today exclusively revealed that Wates is being lined up to take on the management of Croydon Council’s troubled housing company Brick by Brick.