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

2. Outline
Summary of bid profile
Indicative bid sites
Bid assumptions

3. 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

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

5. Summary of bid profile
Funding Sources

6. 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

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

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

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

10. 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)

11. 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