Portfolio of Sites 5 sites across the City - 4 in MCC ownership

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Presentation transcript:

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

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

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

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 4. Matrix Homes (General Partner) Limited – day to day management Slide 4

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.