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Diverse Urban Regeneration Portfolio with 240 New Homes

Explore a portfolio of 5 sites, delivering 240 new homes in MCC and HCA ownership. Includes challenging regeneration areas, site studies, legal processes, and financial structures.

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Diverse Urban Regeneration Portfolio with 240 New Homes

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  1. Portfolio of Sites • 5 sites across the City - 4 in MCC ownership - 1 in HCA ownership • Good sites balanced with more challenging regeneration areas • Delivering 240 new homes • 121 for sale, 119 for Market rent Slide 1

  2. Site Preparation Geo-Environmental Desk Top Study Ecological surveys Topographical surveys Flood Risk Assessment Surveys Intrusive site investigations/Remediation on HCA site Legal Title Planning Brief Site Valuations Slide 2

  3. Procurement Options • Option 1 - North West Construction Hub • Option 2 - Homes and Community Agency (HCA) Delivery Partner Panel Framework (Northern Cluster) • Option 2 was selected as the process to procure delivery partners: • Technical Adviser • Sales and Marketing Team • Development Contractor • The Management Company was procured by the Pensions Fund Property Advisers, GVA. Slide 3

  4. Matrix Homes Legal Structure • 1. Matrix Homes Limited Partnership established April 2014 • 2. Organisations involved in the partnership • Tameside Metropolitan Borough Council • Manchester City Council • Kingfisher Unit Trust Property Partnership Limited • 3. Key funders of the partnership • The Greater Manchester Pension Fund • Manchester City Council • 4. Matrix Homes (General Partner) Limited – day to day management Slide 4

  5. Financial Structure HIF 1 • MCC Land Value circa £5 million • GMPF funding £24 million • Matrix Homes LLP • 21 year life • Return split 80/20 • GMPF take preferential return.

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