London Square and Clarion Housing Group have agreed a £90m deal to deliver 100% affordable homes on two sites in Neasden in north-west London and Staines-upon-Thames in Surrey.
The London developer has sold the residential portion of the two schemes to Clarion. The partnership will see the proportion of affordable homes rise from 21%, delivering 225 affordable rented and shared-ownership homes.
London Square Partners is the developer’s new division that works with registered providers and the public sector. Its commercial arm, London Square Works, will retain the remaining 27,239 sq ft of commercial space, and will seek to lease this as affordable workspace to local businesses.
Adam Lawrence, chief executive of London Square, said: “Working with Clarion reflects the increasing need for homes with a range of tenures to be delivered strategically through partnerships.
“It also demonstrates our determination to bring the public and private sectors together to work in joint venture, making best use of the strengths of both to help boost housing supply for the capital.”
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