GBP1bn housing development goes to tender in England
Housing association Poplar Housing and Regeneration Community Association Ltd (Poplar Harca) in England has issued a contract notice for the regeneration scheme which involves the development of approximately 1800-2500 homes at the Teviot Estate site in East London neighborhood of Poplar.
The tender specifies that "the regeneration must deliver high-quality homes to meet the needs of the residents together with beautiful open spaces that must feel welcoming and safe. Suitable infrastructure must be considered alongside the new homes including local shops."
The estimated duration of the contract will be between 15 and 20 years. The anticipated gross development value of the site is between GBP 682 million (USD 883 million) and GBP 940 million (USD 1.2 billion).
The tenants of the current 535-home Teviot Estate have voted last year for a plan to regenerate the estate replacing all of the social housing homes. 35% of the rest of the housing will be affordable. The residents were said that the planning stage will take 3 years and that building of similar developments usually takes between 7 to 10 years.
The time deadline for receipt of tenders or requests to participate is on April 1, 2020.
You can find details on the tender on our business opportunity page here.
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