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Buckland Mill, Dover

Buckland Mill, Dover. Dover Society Evening Allert Riepma Homes & Communities Agency 14 April 2014. Contents. Introduction Buckland - Brief History HCA ’ s Role Buckland – Progress So Far Buckland – Future Plans Conclusion Any Questions. Buckland House Interior. Introduction.

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Buckland Mill, Dover

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  1. Buckland Mill, Dover Dover Society Evening Allert Riepma Homes & Communities Agency 14 April 2014

  2. Contents • Introduction • Buckland - Brief History • HCA’s Role • Buckland – Progress So Far • Buckland – Future Plans • Conclusion • Any Questions • Buckland House Interior

  3. Introduction • Allert Riepma – Senior Development Manager HCA • Responsible for a number of HCA Mixed Use Schemes in Kent & Essex • Dover projects: Betteshanger, Connaught Barracks, Aylesham Workshop Units & Buckland Mill • Development Partner Gillcrest Homes • Gillcrest Homes representative: Alan Burns – Development Director • Conqueror House & Buckland House in the background

  4. Buckland Brief History 1 • Paper Mill closed late 1990s. • Site fell into disrepair and remained unsold until 2002. • HCA’s predecessor, SEEDA, acquired site in 2002 and carried out remediation works, installed fish trap and improved river flow. • Planning brief drawn up in 2004 and site taken to the market. • Gillcrest Homes were chosen as preferred development partner. • A Development Agreement entered into in 2006. • Down turn in 2007/8 housing market led to a revised planning application with more housing units and more affordable housing proposed upfront. • Buckland Current Projects in Phase 1

  5. Buckland Brief History • Following detailed negotiations with Environment Agency, Planning Authority, Kent County Council and the Highways Authority , planning was granted in 2010 for 406 units including 123 affordable units, 1,300 m² commercial space, a community centre and an 80 bed care home. • HCA took over landholding in 2011 following closure of SEEDA. • First 56 affordable housing units sold to Town & Country early 2013 for rent and shared ownership units. • Buckland House , a grade II listed building, renovated and refurbished mid 2013 and marketed for commercial use. • HCA granted long lease in 2014 for the mill buildings to allow Gillcrest to commence conversion of mill buildings (1D & G) for 32 apartments. • Buckland Mill Conqueror House and Mill Buildings

  6. The HCA National Role • Government Agency Working with people and places to enable them to deliver homes, economic growth and jobs. • Delivering programmes ofinvestment. • Making best use of our land and that of government and other public bodies. • Undertaking robust economicregulationof social housing providers. • Our Partners: • Local Authorities (all tiers & LEP’s) • Registered Partners (delivering affordable housing) • House Building Industry • Central Government & other Govt Depts • Investment & Banking sectors

  7. Current HCA national delivery context • Continued limits on public funding • Focus on economic growth • Risk – diversification and complex environment (welfare reform) • Recoverable investment (loans) • HCA activity focused on five key areas: • Affordable housing • Market interventions • Public land • Economic Assets Programme • Regulation

  8. HCA Delivery – Essex & Kent Land Programmes 2012/13 • Start-on-Sites: 313 • Completions: 694 • Private Sector investment: £143m • Reclaimed Brownfield: 13h • Employment floorspace: 412m2 Affordable Programmes 2012/13 • 3338 completions • 469 start on sites Estimated Overall HCAInvestment in Dover in2013/14 (land/housing) • £18.7 million

  9. Going forward – Recent National Government Initiatives taken forward by HCA. Affordable Housing • £3.3bn affordable housing funding over 3 years 2015-18 • £400m Affordable Rent to Buy 2015 – 18. • £6bn Help to Buy 2014 – 2018, mortgage assistance. • £500m Building Finance Fund, loan for small to medium size housing builders experiencing difficulty accessing bank finance (19 March 2014 budget announcement). Public Land • HCA to be disposal agency for surplus public sector land. • Govt to deliver c. £15 bn of asset sales 2015 - 20 inc at least £5bn of land/ property. • Strategic Land Review to identify surplus or redundant public sector land.

  10. HCA land: our portfolio

  11. HCA Land – 9,400 hectares The area of England is circa 13 million hectares In England, an average of 7,000 hectares of farmland, countryside and green space were converted to urban use every year between 1985 and 1998. This is almost the equivalent size of 9,800 football pitches.

  12. Development Potential recorded in 2012/13

  13. HCA land: portfolio value The Book Value of HCA landholding portfolio as at 31 March 2013 was c. £726m.

  14. HCA Role in stimulating Housing Market.Current Constrains: • Demand-side barriers • Lending – banks are less willing to lend as the perceived risk of house price bubble is higher. • To reduce banks exposure to this risk, higher deposits have been demanded. • The cost of borrowing for banks has increased due to uncertainty in the economy, and higher risk aversion in the financial sector. • Supply-side barriers • The fall in house prices (until recently) has reduced the financial viability of building, leading to stalled sites. • Reduced access to investment finance, particularly for smaller suppliers.

  15. Current delivery context – the market from Nov 2013 • Average house price in Dover £200,000 compared to England average of £253,000 (Buckland Mill area £104,000!). • Following 2008-09 national average price has increased by 12.5%. • Total number & value of house mortgages sold have gone up since summer 2012. • Expectation that prices will rise 20% over 2013 – 17.

  16. HCA Role in stimulating Housing Market.Government, ‘Easing’ of Current Constraints: • Demand-side • The Help to Buy scheme, enabling households to access 20% equity for mortgages for new build homes. • Creating a debt guarantee scheme for up to £10 billion to support affordable housing and private rental homes. • Supply-side • Builders Finance Fund to unlock stalled building sites. • Supporting the release of public sector land and reducing planning delays to accelerate major housing projects. • Affordable homes programme with new affordable rents. • Increasing the maximum discount available for Right to Buy – for the first time, all the additional sale receipts will be recycled back into new affordable rented homes.

  17. HCA Role at Buckland Mill - 1 • Threefold: • Landowner seeking maximum benefit for the taxpayer in terms of monetary returns, balanced mix of affordable and market housing, good standards of design, commercial units, jobs created and wider community & environmental benefits. • Investor to improve attraction of site to house builders, retailers, community enterprises and future home owners and tenants in turn increasing private and other public sector investment (leverage). • Serve local people & businesses to build up a new vibrant community at Buckland Mill. Buckland House Interior

  18. HCA Role at Buckland Mill - 2 • HCA investment in Buckland Mill so far: • £4.38 m in site acquisition, remediation, demolition, consultant fees and on going estate management. • Affordable Housing Grant £2.8 m. • Estimated private sector investment in Buckland Mill: • £2 m in site preparation works and construction so far. • Total private sector investment for Buckland estimated to be in excess of £30 m. Buckland House Frontage

  19. Buckland Mill Masterplan in Four Phases totalling 406 housing units plus commercial space Buckland Mill Future Plans 1

  20. Buckland Mill Future Plans 2 Buckland Mill Buildings June 2013 Buckland Mill Buildings Phase 1D April 2014 Find suitable occupier for Buckland House. Planning Application submitted for potential educational use. Advanced discussions for new Health Centre at block 1H Ongoing marketing for retail use in mill buildings with interest received from a number of supermarket retailers. Re marketing phase 1A for Care Home use with encouraging new interest from care home operators.

  21. Buckland Mill Future Plans 3 Phase 2 • Detailed Planning Application expected later this year. • Mixture of housing and apartments. Phase 3 • Detailed Planning Application expected March 2016. • Mixture of housing and apartments. Phase 4 • Detailed Planning Application expected March 2017. • Mainly Housing. Consultation • HCA/Gillcrest Homes keen to gain.communities’ view during each planning application phase. Conversion works block 1D and platform for new playground

  22. Buckland Mill Future Plans 4 • Risks/Threats • Relatively low sales values in Dover (and Buckland Mill area in particular) mean viability of the scheme remains a delicate balance. • Rising construction costs within the context of an improving economy. • Relatively low levels of demand for housing/retail in Dover. • New AHP not available for S106 sites generally. Conqueror House

  23. Buckland Mill Future Plans 5 View from roof terrace at Conqueror House • Opportunities/Strengths: • Quality and good design will always sell. • Masterplan flexibility for future phases allows scheme to respond to future market changes. • Improved transport links such as High Speed 1 • Early signs of increased development activity in Dover such as Pentland Homes scheme, CPO activity in Dover Town Centre and Discovery Park.

  24. Conclusions • After a slow and difficult start, Buckland Mill development has now gained momentum. • HCA & Gillcrest are committed to the long terms success of the project, recently re affirmed by parties having signed up to an updated Development Agreement last month. • Further challenges ahead in terms of rising costs and reduced funding but also new opportunities such as improving economic climate and development activity in Dover. • Development can act as catalyst for community regeneration in this part of Dover and the wider area. Buckland House Interior

  25. Thank you.Questions?

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