Developer Muse will start a consultation with Homes England for the project this summer
Homes England has bought a former university site from cash-strapped Slough Borough Council for millions of pounds to speed up delivery of 1,340 homes.
Developer Muse, the council’s partner for the Thames Valley University plot, will work with the government’s housing and regeneration body to carry out an extensive consultation from this summer.
This engagement programme for the £650m mixed-used North West Quadrant (NWQ) scheme being built on the site will lead to a revised community-focused masterplan.
Muse’s latest masterplan proposals for the area include 1,340 residential units on the site, with a provision of 25% affordable housing, plus 467,180 sq ft of office space and 43,900 sq ft of retail and leisure space. The council bought the former university site, which makes up the majority of the NWQ scheme, in 2017 for £24.2m.
James Swindlehurst, leader of Slough Council, which had to pause its local plan last year because of its dire financial position, said the local authority had spent months negotiating the multi-million pound sale.
Homes England would bring funding to the town centre project that will “ensure all the council’s key objectives in creating a new neighbourhood with new town centre amenities will be carried forward and delivered by a specialist regeneration partnership with a strong track record of transforming large and complex sites”, Swindlehurst said.
Homes England has already completed regeneration projects with Muse “so they will be able to hit the ground running to move forward the redevelopment of this major town centre site”, the council leader added.
He explained: “I am delighted we have agreed this multi-million pound sale, the scale of which significantly improves the council’s financial position whilst ensuring our key priorities are delivered by a trusted and respected specialist partner on this site.”
Ken Glendinning, national director – acquisitions and partnering at Homes England, said: “The acquisition of the former Thames Valley University site is an important milestone in the creation of the North West Quadrant destination.
“Our role is to connect local places and the private sector to support the creation of new, quality homes and we’re pleased to build on our long-standing partnership with Muse to bring forward this key town centre site.”
Chris Scott, Muse’s development director, said: “As a business, we’re committed to finding sustainable solutions to deliver place-changing regeneration that benefits communities across the UK in any way we can. This deal in Slough with Homes England is a perfect example of how strong partnerships between the public and private sector can overcome challenges to achieve shared goals.”
The firm has been the council’s partner for Slough Urban Renewal, a regeneration project for the town, for 10 years. The firm has already secured planning permission for sites at Stoke Wharf and Montem Lane, part of the £650m scheme, which will deliver 500 mixed-tenure homes.
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