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Big brands target affordable housing

Banks, supermarkets, and Transport for London have been contracted to build thousands of new homes around the UK.

Transport for London is the latest in a number of high-profile organisations moving into the rental market.  TFL and Delancey  plan to build 20,000 new homes across the country, in the next 15 years.

The TFL have already been granted permission to build over 600 new homes in Kidbrooke (zone 3), 50% of which will be affordable housing. The development, in partnership with Notting Hill Genesis, will see the construction of eight buildings to house 619 two and three-bedroom apartments.

The TFL’s housing development will see a percentage of the 5,500 acres of land the company owns transformed into housing, offices, and retail space. In total, Transport for London own 1.5% of the land in London.

They currently have six sites in development including:

  • Western Avenue, Ealing
  • The Liberty of Southwark, Southwark
  • Beechwood Avenue, Barnet
  • Kidbrooke Station Square, Greenwich
  • Fenwick South, Lambeth
  • Blackhorse View, Waltham Forest

Retailer John Lewis has also recently announced their intention to build 10,000 homes in Bromley, West Ealing and Reading. The project is in the early development stage, with feedback form consultations under review.

Plans are to build on top of existing Waitrose shops to offer long and short-term rental choices for tenants. There will also be the option to furnish homes with John Lewis products.

And Lloyds Banking Group is on track to build 50,000 new homes by 2030. Last year, the bank signed a number of contracts, including with Barratt Developments, to build properties around the UK. The completion of the project will see Lloyds Bank become the largest private landlord in the county.

New builds means more opportunity. So, if you’re looking for long-time contracts, then now is the time to put your name forward. Demand for skilled tradespeople has never been higher and with supply chain issues easing, construction projects that have been on hold are well under way.

Tradesman Talk

So, what do you think? Are retailers and banks on a power grab, or are they reacting to the lack of affordable housing around the country?

Are you, or do you know a tradesperson, working on these projects?

As always, leave your comments below and share this news on social.

Until next time, make sure it’s Tradesman Saver.

Mark McPherson

Mark McPherson has an MA in Creative Writing and has been crafting content for over a decade. He writes for a range of niches, including the construction industry and insurance sector. Mark has worked internationally as a content writer and teacher.

All articles by Mark McPherson

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