National Grid enters into Joint Venture with Redrow to develop 900 new homes in Ebbsfleet
National Grid and Redrow Homes have created a new Joint Venture (JV) that will see the delivery of around 900 new homes in Ebbsfleet, a key regeneration area of the South East.
The JV will primarily focus on building much needed family homes at National Grid's former substation site in North Kent, the Ebbsfleet Green development site, which comprises 95 acres.
The scheme will form an essential part of the renewal of Ebbsfleet Green, where thousands of new homes are set to be developed over the next 20 years.
Ebbsfleet Green is well placed in respect of transport connections; Ebbsfleet International is 700 metres from the site and offers a direct 18 minute connection to St Pancras International for commuting to the City or West End and Eurostar services to Brussels and Paris. Motorway connections are similarly strong with access onto the A2 south of the site. The site already benefits from resolution to grant planning permission for up to 1,500 new homes.
Charles Connoly, senior JV manager for National Grid, said: "National Grid is committed to promoting the beneficial re-use of its surplus property assets and we have a number of key sites throughout the South East that can play a major part in the delivery of much needed housing stock to local authorities meet their targets for new homes in the coming years.
"We are pleased to be able to announce the appointment of Redrow Homes PLC as our JV partner on our Ebbsfleet Green site, following a competitive selection process. Throughout the tender process Redrow demonstrated they have the skills and resources to optimise development on the site to the benefit of all stakeholders and we look forward to working in partnership with them to deliver a successful regeneration of this important strategic housing site."
Steve Morgan, chairman at Redrow Homes, commented: "We are absolutely delighted to be partnering National Grid in this major development opportunity. We would like to thank both National Grid and their agents DTZ for their proactive and professional approach to the structuring of the JV agreement. We now look forward to working with them to deliver high quality and much needed new housing in North Kent."