• Home
  • About
  • Subscribe
  • Conference
  • Events Calendar
  • Webcast151
  • MOTB
  • Log In
  • Register

Room 151

  • Treasury
  • Technical
  • Funding
  • Resources
  • LGPS
  • Development
  • 151 News
  • Blogs
    • David Green
    • Agent 151
    • Dan Bates
    • Richard Harbord
    • Stephen Sheen
    • James Bevan
    • Steve Bishop
    • Cllr John Clancy
    • David Crum
    • Graham Liddell
    • Ian O’Donnell
    • Jackie Shute
  • Interviews

London Mayor’s Land Fund makes loan for Holloway site

0
  • by Ian McDiarmid
  • in 151 News · Development
  • — 11 Mar, 2019

The Mayor’s Land Fund will lend £42m to help the Peabody housing association buy the former Holloway prison site from the Ministry of Justice.

The terms of the loan require Peabody working together with private developer London Square to begin work by 2022 on over 1,000 homes, of which at least 60% must be affordable housing.

Of this affordable portion, 70% will be for social rent, with the balance being either shared ownership or London Living Rent.

Making the announcement last week, London’s mayor Sadiq Khan said: “Our ground-breaking loan to Peabody means the majority of new homes on this site will be genuinely affordable – with around four in 10 of all new homes being for social rent.

“We’ve developed planning policies with the council that support this, and that also set out how the development should include public green space and a new centre for women.”

Khan has a target of starting 116,000 “genuinely affordable” homes by 2022.

The Mayor’s Land Fund was set up with £250m from City Hall and nearly £500m from the central government to speed up housing development and ensure at least 50%  affordable housing on public-land sites.

Get the Room 151 Newsletter

Room151 Conferences & Events

Share

You may also like...

  • Empowering the s151 – how to use CIPFA’s resilience index Empowering the s151 – how to use CIPFA’s resilience index 16 Dec, 2019
  • Authorities turn away from PWLB in favour of borrowing from peers Authorities turn away from PWLB in favour of borrowing from peers 12 Dec, 2019
  • Spelthorne returns to PWLB for £48m acquisition Spelthorne returns to PWLB for £48m acquisition 12 Oct, 2017
  • Councils join forces against Barclays over LOBOs Councils join forces against Barclays over LOBOs 16 Jul, 2018
  • Register to become a Room151 user

  • Latest tweets

    Room151 10 hours ago

    How can local government ‘build back better’?: Beverley Gower-Jones looks at the options for driving small business entrepreneurship in clean technologies. Innovation is essential for local authorities to save money and reduce emissions, it is the… dlvr.it/RtT3nS pic.twitter.com/bSMB6OG70t

    Room151 13 hours ago

    Helen Randall: Spelthorne report places spotlight on ‘controls’: Fresh criticism of Spelthorne Council raises the question of what “good” controls look like when negotiating a property deal. Spelthorne Council’s continuing debacle over property… dlvr.it/RtSPhy pic.twitter.com/9uCOJgBcH6

    Room151 13 hours ago

    Step-out strategies: Hitting the sweet spot between liquidity and ultra-short duration: Sponsored article: Jemma Clee describes how an ultra-short duration strategy can help local authorities enhance returns. Despite the expectation of a low, and… dlvr.it/RtSPZb pic.twitter.com/pdXPpv5lcN

    Room151 2 days ago

    What role will climate change have on the pricing of government bonds?: Sponsored article: Kerry Duffain finds that “vulnerability and resilience to climate change” have a significant impact on the cost of government borrowing. Ardea Investment… dlvr.it/RtNKv7 pic.twitter.com/wDjT31x4Yt

    Room151 2 days ago

    ESGenius: Slashing emissions will fuel green growth for decades: Sponsored article: Velislava Dimitrova argues that a big enough investment could mean transition to a low, or no, carbon economy can become a reality. The world needs to slash carbon[...] dlvr.it/RtKZJp pic.twitter.com/cd8S3ijERl

    Room151 2 days ago

    Prudential code: “Not perfect, but its heart is in the right place”: The new Prudential Code offers revised rules for borrowing. Nikki Bishop is sceptical it will work while Gary Fielding offers his support. Nikki Bishop I have been asked to give[...] dlvr.it/RtKZFh pic.twitter.com/OriN28lXcb

    Room151 3 days ago

    Tremendous report from @MarkSandford3 citing @room_151 no fewer than six times (despite what the @lgcplus fact checking/counting dept might tell you) #localgov commonslibrary.parliament.uk/research-brief… 1/5

    Room151 1 week ago

    Dan Bates: Capitalisation directions are not the only tool for rebuilding finances: Dan Bates argues deep seated problems are contributing to a rush for capitalisation directions. For some time now we have been reading that a number of councils are in… dlvr.it/RspKff pic.twitter.com/xRRsgVim9u

    Room151 2 weeks ago

    Is local government funding “broken”?: Andrew Hardingham looks at the underlying issues that caused more than a third of respondents in the Room151/CCLA treasury survey to say that the funding system for local govenrment is[...] dlvr.it/RsYhsg pic.twitter.com/plNp7Ayys6

  • Categories

    • 151 News
    • Agent 151
    • Blogs
    • Chris Buss
    • Cllr John Clancy
    • Dan Bates
    • David Crum
    • David Green
    • Development
    • Forum
    • Funding
    • Graham Liddell
    • Ian O'Donnell
    • Interviews
    • Jackie Shute
    • James Bevan
    • Jobs
    • LGPSi
    • Mark Finnegan
    • Recent Posts
    • Resources
    • Richard Harbord
    • Stephen Fitzgerald
    • Stephen Sheen
    • Steve Bishop
    • Technical
    • Treasury
    • Uncategorized
  • Archives

    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
    • 2011
  • Previous story New SPRUCE loan for centre of Glasgow regeneration
  • Next story Developer chosen for Bath Quays North

© Copyright 2021 Room 151. Typegrid Theme by WPBandit.