MTVH and Countryside form joint venture

Date: October 13, 2021

MTVH and Countryside form joint venture partnership to deliver Clapham Park regeneration scheme.

Following an 18-month tender process supported by Arcadis and Devonshires, Metropolitan Thames Valley Housing Association (MTVH) has selected Countryside, a leading mixed-tenure developer, as the preferred bidder with whom they will form a joint venture (JV) partnership to deliver all remaining parts of the regeneration at Clapham Park.

• MTVH and Countryside to form a joint venture partnership to deliver remaining regeneration at Clapham Park
• The scheme is a continuation of the 1,500+ refurbishments and new homes already completed and will deliver at least 2,482 homes and a range of community facilities and public amenities
• The joint venture partnership will also be making an initial investment of £1million in placemaking and social value initiatives

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 and one and two-bedroom apartments. There will also be a community centre, a market square, two parks, commercial and retail space and a district heating system.

The homes will have green and solar roofs 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 joint venture partnership will also be making an initial investment of £1million in placemaking and community development initiatives.

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.

On completion, Clapham Park, which spans 36 hectares and is nestled between three local centres, Clapham, Brixton and Streatham Hill, will have a total of over 4,000 homes. Works are expected to commence in Spring 2022 with first completions expected in 2024.

Geeta Nanda OBE, Chief Executive of MTVH said: “Following an extensive tender process MTVH is delighted to be working alongside Countryside. This is an important moment as we work towards completing the regeneration of Clapham Park and making a very real difference to the community living there. This regeneration is an exciting development that will see new homes and apartments built for thousands of residents. At the same time, we are firmly committed to improving the services, health, wellbeing, and the environment of local people. Therefore, we are also investing in a new community centre, parks, shops, retail facilities and improved environmental features that will provide new opportunities for the entire community.”

Iain McPherson, Group Chief Executive, Countryside, said: “We are thrilled to form this joint venture partnership with MTVH. As a partnerships-based business, our commitment to delivering high-quality, sustainable mixed-tenure communities is unwavering. With shared values, I have no doubt this joint venture will bring to life the ambitious vision for Clapham Park, delivering a vibrant and inclusive series of neighbourhoods with safe, secure streets and ample public and private green space, while maintaining Clapham Park’s unique character and keeping the community at heart.”

Cllr. Matthew Bennett, Deputy Leader of the council and Cabinet Member for Planning, Investment and New Homes said: “I warmly welcome the commitment from Metropolitan Thames Valley housing and from Countryside in developing this joint venture to invest in thousands of new homes in Clapham Park, of which the majority will be affordable housing.

“We all know there is a housing crisis – and Lambeth council is working hard to deliver the new homes our borough needs. This joint venture will make an important and positive contribution towards delivering on our targets and ensuring our residents can enjoy warm, safe and secure homes, with a strong focus on sustainability, well into the future.”