local authority finance

 

London Borough of Wandsworth

Winstanley & York Road and Alton Estates Property and Financial Advisor

 

 

WandsworthThe Assignment

Members of our team were appointed as lead financial and property advisors by LB Wandsworth for the regeneration of the Winstanley & York Road and Alton estates. Winstanley & York Road are adjacent to Clapham Junction station whilst Alton is located in Roehampton.

The Council required advisors to work collaboratively with them to develop an holistic approach to regeneration, which included a bespoke and viable development plan for mixed tenure homes across the estates and would contribute to addressing the social and economic issues across the estates.

 


Our Role

Our role was to lead a team comprising architects, urban designers and engineers to establish a renewal strategy that addresses the physical, social and economic failings of the estates and to capture the full development potential of these locations.

The first step was to work with the key council departments and the local residential community to develop agreed masterplan schemes for the estates, which combine, refurbishment, redevelopment and environmental improvement proposals.

The preferred schemes envisaged the redevelopment of a significant portion of each estate together with the provision of significant net additional residential units. This will be a combination of social, affordable rent, private rent and owner occupation.

The schemes also provided significant new infrastructure and community facilities including a new concourse for Clapham Junction, a new leisure centre, community Hub, Arts Centre and replacement schools and shopping facilities.

Our role continued beyond the masterplanning to advise on the viability, funding, land assembly (CPO) and wider delivery aspects. This included the potential to deliver in partnership with private sector partners and an OJEU compliant procurement process to engage the private sector in delivery.

 
Key Outcomes

The Council now has agreed masterplan approaches for the sites. It also has selected its preferred delivery approaches to bring forward the development of the estates. These approaches include the Council itself taking on an active role in the development process by self-delivering a number of the housing and community components.

Further, the procurement approach has been agreed and the Council are in the process of developing the next steps and evidence base to take this to the market in late 2015.