London Borough of Ealing in the UK has selected Rylon as a preferred bidder for the High Lane Estate housing redevelopment in London. The project includes a complete redevelopment of 264 homes in High Lane estate in London. The scope of works involves financing, development proposals, planning application procedure, demolishing and building the new homes on a phased basis. A total of 450 new mixed homes will be developed in three phases.
The authority will purchase the required amount of affordable housing. In return for the construction of housing to be retained by the authority (or transferred to the authority or its nominated purchaser where appropriate) for replacement housing (both social and housing to be offered at a discount market rent), the land will be provided to enable the development partner to construct market housing. At the request of the authority, a proportion of the replacement housing (i.e. that to be offered at a discount to market rent) will be transferred to Broadway Living, a wholly-owned subsidiary of the authority.
The contract value is GBP 99 million (US$ 127 million).