You are viewing 1 of your 1 free articles
Midlands council signs 400-home deal with L&G’s modular arm
The City of Wolverhampton Council has signed a deal with Legal & General’s (L&G) modular housing arm to develop a 400-home canalside scheme in the city centre.
The major regeneration scheme, described as the largest city centre development in the West Midlands, will transform a six-hectare ex-industrial site at Canalside South on the eastern edge of central Wolverhampton.
L&G said the final housing tenure mix will be decided at the planning submission stage but will include homes for private sale, rent and affordable tenures.
The site comprises the former Crane Foundry site owned by the Canal & River Trust, which is a partner in the project, and the former British Steel distribution centre off Qualcast Road, which has stood empty since the company collapsed in 2019.
Running alongside the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal, the project is part of a wider canalside masterplan for around 1,000 homes.
The L&G deal follows planning permission granted last year for a 366-home scheme led by Manchester build-to-rent developer Placefirst.
READ MORE
Engineered in L&G’s modular factory in Leeds, every modular home will include an air source heat pump, photo-voltaic panels and an electric vehicle charging point.
Alongside the new homes, L&G will look to deliver commercial space such as a coffee shop, co-working spaces, bike hire and water activities. The scheme will also include a green corridor.
Earlier this year, six years after it was set up, L&G’s modular arm completed its first major scheme – a 102-home development in Selby, North Yorkshire, built in its factory in nearby Sherburn-in-Elmet. The company is aiming to complete a further 450 homes this year, including 185 in Bristol and 153 in Broadstairs.
In an interview with Inside Housing earlier this year, L&G’s chief executive Rosie Toogood said that while the modular arm was unlikely to hit its original target of building 3,000 homes a year in 2024, reaching this goal was not far off.
Wolverhampton’s deal with L&G’s modular arm, which followed an open tender process, will be a welcome vote of faith in modern methods of construction, in what has been a somewhat turbulent period for the sector.
Earlier this year saw the collapse of high-profile modular firm House, a joint venture between developer Urban Splash, Japanese housebuilding giant Sekisui House and Homes England.
Meanwhile, in July developer Countryside closed one of its three modular factories in a bid to claw back some of its manufacturing losses.
Describing the Wolverhampton scheme as “nationally significant”, Stephen Simkins, deputy leader of City of Wolverhampton Council, said: “Legal & General has a strong background in the property sector, investing in urban regeneration, financing affordable housing and building modular homes.
“The tendering process demonstrated there is a strong developer appetite to deliver a transformational project in this part of Wolverhampton. It will enable our residents to benefit from superb connectivity, amenities and health and well-being opportunities at this wonderful heritage location.”
Ms Toogood added: “In the face of a chronic housing shortage, steep energy bill increases and a looming climate crisis deadline, our mission is to reduce costs to consumers and the environment by producing the best quality homes in the most efficient way possible. The City of Wolverhampton shares this ambition and together we are excited to deliver a first-class community for Wolverhampton and the West Midlands.”
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
