Westminster Community Homes – Business Development Support
Background
Westminster Community Homes was formed to deliver homes and other services for the benefit of people living in or wishing to live in the City of Westminster area. They aim to build and acquire high quality, sustainable homes which complement the local environment and encourage thriving neighbourhoods. In order to achieve their objectives, they work closely with the City Council to help deliver Westminster’s housing strategy.
Approach
The need for homeless accommodation in the City of Westminster is considerable. Westminster Community Homes commissioned us to provide a detailed options appraisal for their Homelessness Acquisitions Project. Broadly the key tasks associated with the project were:
- Presenting the average sale and rental values for two and three-bedroom houses/ apartments in Westminster.
- Presenting ‘available for sale’ data.
- Presenting comparative data for surrounding London boroughs.
- Mapping transport links and costs, to and from surrounding boroughs.
- Presenting financial appraisals highlighting the grant funding and borrowing required to deliver the required acquisition programme.
Outcome
We provided a detailed summary of the findings, highlighting the locations which provided best value for money, plus were accessible for homeless families. Tenure options were explored as part of the financial appraisals and the grant and borrowing requirements were presented.
Westminster Community Homes presented the options to the City of Westminster Council for debate and discussion.
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