Development partner sought for 800 homes
Lampton 360, the trading company set up by Hounslow Council, has identified more than 10 potential development sites, which could produce up to 800 new homes across the London borough. The company is attending MIPIM seeking a 50/50 JV development partner for the portfolio and to identify additional sites within the council’s existing asset base and the open market. The company is also seeking funding, either on a rolling facility or a site specific basis.
Established to generate revenue for the council, to help maintain and protect council services, Lampton 360 will undertake mixed tenure, mixed-use developments, aiming for 40% market sale, 40% affordable (for sale to a registered provider) and 20% PRS. It will also invest in PRS, commercial assets and freeholds, creating a rental income stream.