Laing O’Rourke to build 550 new homes for Stanhope, Network Homes in London
Feb 15, 2018 – A joint venture of Network Homes and Stanhope has appointed Laing O’Rourke to deliver 550 homes, regenerating an industrial site next to Southall railway station in Ealing, London.
Network Homes and Stanhope signed a joint venture deal valued at £200m ($276.94m) for the project.
Construction is expected to start in early 2019 and be completed by mid-2021.
The 350,000ft2 development will comprise a mix of build-to-rent, market sale and around 180 homes for shared ownership and affordable rent, as well as 20,000ft2 of retail and commercial space, and flexible workspace for local small businesses and start-ups.
To reduce build time and cost, a combination of traditional build and modern methods of construction will be used, with some portions such as bathrooms, balconies and panelling factory-built before installation on site.
The joint venture marks the first stage in the implementation of a strategic alliance between Network Homes and Stanhope to deliver residential-led schemes in London.
Network Homes and Stanhope had signed a framework agreement in 2016 to explore opportunities in the build-to-rent sector. Laing O’Rourke is the construction partner for the alliance.
The three companies intend to identify and build out multiple sites over the next five years.
Laing O’Rourke CEO Ray O’Rourke said: “We are delighted in our appointment to deliver 550 new homes at Southall, Ealing.
“Using Laing O’Rourke’s DfMA 70:60:30 offsite manufacturing capability, the project will see efficiency and certainty of delivery that is needed both here and to get a different result for the housing market across London and the south-east.”
Stanhope CEO David Camp said: “This alliance between a major private developer like Stanhope and a leading provider of quality homes like Network Homes is the only way we are going to solve London’s housing crisis by delivering high quality new homes cheaply and efficiently outside the conventional structures which have failed.
Network Homes commercial director David Gooch said: “This joint venture is an exciting opportunity to transform a large, poorly-used site into high-quality housing for local people, including a range of affordable homes.
“Crucially, our development will help trigger the major regeneration of a key area of Southall, close to the town centre and Crossrail station.
“The development is also an important step forward in our strategic partnership with Stanhope, one of the UK’s leading developers. Together, we want to create great places and help to grow Build to Rent opportunities for Londoners and others struggling in high priced markets.”