Wates has beaten McLaren Living and a joint bid from Countryside and Vistry to be named as preferred bidder for a joint venture with Guildford Borough Council to transform a car park into a new £86m neighbourhood.
As part of a proposed development agreement formalising the partnership, Wates will aim to build up to 248 homes, of which 40 per cent would be classed as affordable. About half of the project’s costs (£39.7m) will be funded by Guildford Borough Council’s housing budget.
A report presented to councillors earlier in the week, said Wates “provided a detailed and credible set of proposals which scored highly against the technical and financial evaluation criteria”.
On completion of the development, the council will transfer the freehold of the site, excluding the affordable properties, to Wates, council documents show.
Initial proposals show a mixture of one-, two- and three-bedroom homes near the town’s train station, including 98 earmarked for affordable rent and shared ownership.
Design work on the scheme (CGI pictured) has already started. The development aims to exceed the Future Homes Standard, a mooted plan to require new-build homes to achieve higher levels of energy efficiency. It will also target a 30 per cent net increase in biodiversity.
Wates and Guildford council pledged to carry out extensive public and stakeholder consultation before seeking planning permission.
The development includes an £11m social value programme, which would create 40 jobs for local residents, as well as training and upskilling opportunities.
She added: “This new neighbourhood will include a mix of new council homes for rent and affordable homes to buy. We’ll be focusing on creating a high-quality, sustainable development where people are proud to live.”
The council report named McLaren Living and Countryside/Vistry as the other shortlisted bidders.
