for new social rent homes On Leathermarket sites CBS Board meeting 16th October 2018 GLA bid for new social rent homes On Leathermarket sites

Outline Summary of bid profile Indicative bid sites Bid assumptions

152 Summary of bid profile No. social rent homes CBS Delivery partner - community led, appoint & manage own delivery team LBS tenancies & land ownership No. social rent homes 152

Summary of bid profile £49.171m Delivery costs £49.171m

Summary of bid profile Funding Sources

Elim Estate 53 new homes council rents across 3 infill sites at Fenced off due to dogs fowling Blight 13 homes Underused ball court Not best location Re-provide community facility 53 new homes at council rents across 3 infill sites + JMB office 12 garages Not best location

Whites Grounds 4 new homes at council rents Site between 2 blocks

Cluny Estate 8 new homes at council rents across 2 infill sites

Lawson Estate 7 new houses council rents at Underused garages site All let to JMB residents 8 residents use for general storage

JMB Office site 40 new homes Could be market homes To cross subsidize programme of social rent homes Cover full cost of new JMB office (proposed to be build in phase 1)

Bid Assumptions Joseph Lancaster Indicative sites   Average cost per home (build & 15% on costs) £325,000 GLA grant per social rent property £100,000 Prudential loan per property £225,000 Assumed build cost of new office £1,210,000 Office build cost psm (build & on cost) £2,200 Size of JMB new office sqm (reduced from current) 550 Joseph Lancaster Construction £10,290,384 On costs £1,872,653 Total £12,163,037 Project cont. 5% £608,151.85 Total Including cont. £12,771,189 Funding   GLA funding 4,000,000 Prudential borrowing 2,225,000 S.106 commuted sums £6,546,189