Maryland Point An Approach to Affordable Housing
Agenda • Introduction • Maryland Point • The Market • Opportunities • Summary
Introduction • Plan for growth – Construction • Partnership approach & sector focus • Build on recent successes in public and regulated sectors • Plan for growth – Housebuilding • Build on success as strong regional developer • Expand units sales by 50% over next 3 years • Affordable Housing an opportunity for Galliford Try
Maryland Point Key Characteristics • Mixed Tenure & Mixed Use • Partnering Framework Procurement Route • £ 9. 8 m Design & Build Scheme Maryland Point, Stratford
Maryland Point Mixed Tenure / Mixed Use • Mixed Tenure - 105 new 1 & 2 bed apartments • 52 outright sale – 32, 900 ft² • 12 market rent – 6, 900 ft² • 41 shared ownership – 23, 700 ft² • Commercial – 9, 100 ft²
Maryland Point Partnering Framework Route CLIENT CONSTRUCTION PARTNER COST CONSULTANTS SPECIALIST SUPPLY CHAIN DESIGN TEAM WALKER MANAGEMENT SPECIALIST CONTRACTORS/SUPPLIERS STOCK WOOLSTENCROFT ARCHITECTS
Maryland Point Added Value / Benefits CONSTRUCTION GALLIFORD TRY PARTNERSHIPS • Partnering ethos • Early involvement in design • Certainty of delivery – Time / Cost / Quality HOUSEBUILDING TRY HOMES • Appropriate market knowledge • Specific design criteria incorporated in scheme • Defined sales strategy
The Market Statistics • New build market set to rise 25% - £ 2 billion by 2006 • Refurbishment & maintenance market set to rise 20% - £ 7. 5 billion by 2006 • Largest demand London & South East • Government key driver • Barker review - 20, 000 additional affordable housing units – year on year to 2011 • Sustainable Communities Initiative – Key Worker
The Market Sub Sectors The Market Demand Key Worker Affordable Supply PFI/SPV Demand Supply H/A House Builders L/A
Opportunities Construction • Building on existing relationships • Currently working with 15 H/A’s on over 1500 units • Housing Associations increasingly looking for top-up funding to increase their overall development programme • Partnerships already involved in PFI procurement route • LA & MBC’s require refurbishment and replacement of old stock
Opportunities Housebuilding Two main forms: To provide accommodation for rent, shared ownership key worker and sub-market Enabling: - Section 106 Agreement (planning obligation) Collaboration: - Joint developments with housing associations/local authorities and other public bodies to provide mixedtenure development
Opportunities Housebuilding Enabling • Large growth area • Proactive relationships critical • Potential requirement for developments to provide 30% affordable housing Waters Edge, Shaldon
Opportunities Housebuilding Collaboration • Exciting area going forward • Beneficial land payment terms • Excellent relationships essential • Increased margins due to less competition • 5 current projects – 700 units Little Bitchywind, Bradninch
Summary • Growth market for contractors and housebuilders • Galliford Try capitalising on experience • Clear advantage of joint construction & housebuilding approach • Maryland Point illustrates our capability
Maryland Point An Approach to Affordable Housing
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