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15 September 2003
The award of this scheme is further evidence of our abilities and leadership in the development of large mixed-tenure projects, in line with Government planning policy's growing emphasis on balanced community development and estate regeneration.
Richard Cherry, Group New Business Director of Countryside Properties
Countryside Properties PLC ("Countryside Properties" or "the Group"), a leading developer of sustainable communities, has been selected as preferred housebuilder partner by 'Choices for Grahame Park' ("CfGP") for the proposed major regeneration of the Grahame Park Estate in Colindale, North West London. CfGP is a partnership between Genesis Housing Group and Notting Hill Housing Trust, in conjunction with London Borough of Barnet and local residents.
Grahame Park Estate, built in the 1970's as a key part of the London Borough of Barnet's housing provision, currently comprises 1,777 homes with commercial premises and community facilities. The regeneration of Grahame Park will, subject to planning permission, involve the demolition of 1,317 homes with 460 being retained and 2,940 new homes being built. It is proposed that this will include 2,025 homes for sale and 915 affordable homes for rent and shared ownership provided under design and build contracts.
Average selling price of the homes to be offered for sale is expected to be £175,000. New community facilities will also be provided. It is anticipated that construction works will start in 2004 and complete in 2016. The project is expected to have a total development value of approximately £450m.
Richard Cherry, Group New Business Director of Countryside Properties, commented: "We are delighted to have been selected for this highly important scheme. Working with CfGP, our aim is to regenerate and transform Grahame Park into a successful and sustainable community where the homes for rent, shared ownership and sale are totally integrated.
"The award of this scheme is further evidence of our abilities and leadership in the development of large mixed-tenure projects, in line with Government planning policy's growing emphasis on balanced community development and estate regeneration. Countryside Properties is at the forefront of this valuable and growing market sector in London and the South East of England."
Anne Dufton, Chief Executive of CfGP, said: "The selection of Countryside Properties is a decision made by CfGP in conjunction with the residents' panel. Indeed, the residents have voted overwhelmingly in favour of our comprehensive regeneration proposals.
"The Group has a strong reputation and track record of delivery, which will now sit alongside the substantial housing and regeneration experience of the CfGP partners, the commitment and knowledge of the residents and the drive of the Council. Together, we will ensure that the neighbourhood we are creating will meet the needs, expectations and community aspirations of its residents."
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Information correct as at 15/09/2003