MTVH and Countryside joint venture

Date: June 23, 2022

Works underway on regeneration scheme at Clapham Park as Countryside and Metropolitan Thames Valley Housing sign Joint Venture Agreement

• Demolition works commence as MTVH and Countryside enter into a Joint Venture Partnership to deliver the remaining regeneration at Clapham Park in Lambeth following Countryside’s selection as the preferred partner to deliver the scheme in 2021
• The project is a continuation of the 1,500+ refurbishments and new homes already completed
• The JV will deliver at least 2,482 homes and a range of high-quality facilities and public amenities, with the vision to dramatically improve the lives of thousands of local residents and the wider community
• The partners have committed £1m capital spend to placemaking and social value initiatives, to be deployed in the first year of the project, ensuring the benefits of the regeneration can be felt and observed from day one

Demolition works commence at Clapham Park as Countryside, a leading mixed-tenure developer and Metropolitan Thames Valley Housing (MTVH), one of the UK’s largest housing associations, sign a JV agreement, paving the way for the delivery of the regeneration scheme.

The regeneration scheme will deliver at least 2,482 high-quality homes across 17 sites, of which 53% will be for affordable tenures. These will comprise family homes, apartments and retirement living. There will also be a community centre, a market square, two parks, commercial and retail space, and a district heating system. The homes will be built to high sustainability standards, and residents will benefit from extensive cycle parking, electric vehicle charging points and public realm enhancements.

Keeping the community at the heart of redevelopment, the JV partnership has allocated an initial sum of £1m towards placemaking and community building activities.

To be deployed during the first year of the project, the funding will be used to sponsor a variety of resident activities, including community bonding events and improvement works, which will bring immediate benefits to the community, demonstrating the JV’s long-term commitment to Clapham Park, which goes beyond the delivery of much-needed homes.

A Young People’s Fund will also be established, enabling young residents to actively participate in shaping the future of their community, with annual funding allocated to youth activities, and a dedicated youth board to direct the Fund.

As part of this ambitious project, Countryside and MTVH will create a number of new jobs as well as training and development opportunities for local people. Over the course of the works, the site will benefit from a variety of meanwhile uses as well as commercial and retail spaces, sensitively curated and designed to become the cornerstone of neighbourhood life.

This October, 200 Lambeth students will be able to participate in Countryside’s market-leading virtual work experience programme Destiny, designed to help school leavers obtain work experience in the built environment. A summer community fun day is also planned for August to help bring residents together and celebrate the start of an exciting and transformative chapter for Clapham Park.

The JV-sponsored programme of community activities will supplement the initiatives already in place, including the work undertaken by MTVH’s Empowering Futures team and Lambeth Council, all designed to improve people’s quality of life and create new opportunities for local growth.

Since the transfer of Clapham Park from the London Borough of Lambeth, MTVH has completed over 1,500 new homes and refurbishments. In 2019, planning permission was granted for the new masterplan to deliver over 2,500 further homes, extensive green space, infrastructure, community and commercial space. With the first 50 homes under that permission currently under construction (and completing in 2023), the joint venture will take forward the remainder.

The demolition works currently underway will pave the way for the construction of 520 high-quality new homes as part of phase 1 of the project.

Upon completion, Clapham Park, which spans 36 hectares and is nestled between three local centres – Clapham, Brixton and Streatham Hill – will comprise over 4,000 homes, with first completions expected in 2024.

Guy Burnett, Executive Director of Development, MTVH, said: “As our joint venture agreement with Countryside comes into effect, we are excited to embark on this large-scale regeneration project. This regeneration will not only see the creation of new, modern, well-designed homes for thousands of residents, but also the development of high-quality amenities and services. Improving the wellbeing and environment for local people in this way will make a very real difference to the community. We look forward to working in tandem with Countryside, whose expertise in regeneration and community building complements our vision for the place and our long-term ambition to improve the lives of local residents through the provision of high-quality housing and amenities.”

Mike Woolliscroft, Group Co-Chief Executive, Countryside, commented: “We look forward to driving the regeneration of Clapham Park forward together with MTVH now that our JV agreement has entered into force and the demolition works are full steam ahead. As a partnerships-based business, we take a long-term approach to all of our projects and put communities at the heart of everything we do. This project presents an exciting opportunity to reinvigorate Clapham Park by creating safe and welcoming mixed-tenure neighbourhoods with an abundance of green space and amenities for existing and future residents to enjoy for many years to come”.

Cllr Danny Adilypour, Lambeth’s Deputy Leader (Sustainable Growth and New Homes), said: “We welcome this huge investment in the new homes our borough desperately needs in order to address the national failure to build enough new homes to meet the needs of our local communities.

“This failure means more than 3,200 Lambeth households are living in temporary accommodation, because of the huge gap between the level of demand for accommodation and the housing supply.

“So, we are delighted to have been able to help make this project happen, it will help make a real difference to people’s lives.”