PRS deal spurs £200m Guildford station scheme

Aaron Morby 4 weeks ago
Share

Network Rail and Kier’s plan for the £200m redevelopment of Guildford Station have finally advanced after a deal to forward fund nearly 100 build to rent flats on the scheme.

Guildford station redevelopment includes £25m of station improvements, 440 new homes and multi-storey car parking
Guildford station redevelopment includes £25m of station improvements, 440 new homes and multi-storey car parking

Rental homes developer Grainger is funding the £37m rental homes element of the wider development.

The scheme, includes a £25m new station building and integrated transport interchange, improved public realm, the widening of Walnut Tree Close and 440 new homes.

A 644-space multi-storey car park, part of the first tranche of rail improvements, will also be constructed.

Works at the station will begin this autumn.

Alan Jones, Development Director, Network Rail/Kier JV Solum, said “We are truly excited about the start of construction works on this important strategic site in Guildford.

“Not only does it provide significant rail infrastructure improvements that otherwise may not have come forward, but it also creates much-needed quality homes on a currently underutilised brownfield site.”

The build to rent transaction with Solum is subject to the satisfaction of several conditions.

Once these have been satisfied construction of the private rental flats will begin in the summer of next year.

Helen Gordon, chief executive of Grainger, said: “Today’s acquisition in Guildford is an exciting addition to our growing portfolio of high-quality rental homes across the country.

“Demand for renting in areas like Guildford continues to grow, and this scheme will add to our cluster of nearby assets in Hampshire which will stand at over 300 rental homes, improving our ability to drive efficiencies while delivering a great service to our customers.”

Latest news

Taylor Woodrow lands £100m power plant deal

First major building award at £1.2bn North London Heat and Power Project
1 hour ago

Giant HS2 tunnelling machines unveiled

Two TBMs will take three years to bore the ten mile long Chiltern tunnel
3 hours ago

Bellway commercial managers in cost cutting drive

House builder to focus on reducing build costs as Covid cuts sales by 31%
5 hours ago

Galliford Try bags £105m Leeds Highline scheme

Five build to rent blocks of flats will be built at Monk Bridge
6 hours ago

Laing O’Rourke starts redundancy talks with 150 staff

Covid cuts to focus on back office staff
1 day ago

Derwent sees future in long-life, loose-fit offices

Next-generation offices to feature higher ceilings, better ventilation and green space
5 hours ago

Plan for first 349 homes at Kirkstall Forge

Developer CEG consults over first of 1,450 homes at Leeds scheme
6 hours ago

McGee signs-up former Multiplex Commercial Director

Paul Maguire joins specialist as contractor still predicting profits this year despite Covid impact
1 day ago

Plans approved for 5,000-home Thameside West scheme

Work will start on the first 400-home block before the end of the year
1 day ago

Laing O’Rourke completes first HS2 bridge in two days

65-metre structure built off-site and installed ahead of schedule
1 day ago

A66 TransPennine upgrade to be split into four jobs

Design and build projects to total £770m along 50-mile route
1 day ago

Welsh Water civils and M&E frameworks up for renewal

Water company seeks to refresh partners for AMP7 investment plan
1 day ago

Crane drivers face heat risk in “greenhouse” cabs

Union demands maximum three-hour shifts for drivers, free water and mini fridges in cabs
4 days ago

Willmott Dixon wins £54m Manchester creative complex

Major boost to city's media, creative and digital industries
1 day ago

£100m Leeds student tower approved

Planning go-ahead for 32-storey Merrion Street skyscraper
4 days ago

Redrow pulls out of 1,100 home Wandsworth estate scheme

Construction started in February on first phase of Alton Estate regeneration
5 days ago

Supply chain event for £4.5bn Smart motorways plan

Subcontractor engagement launch event to set out new working arrangements
4 days ago

Construction Manager of the Year finalists revealed

Sixty of the country's best construction managers make the cut: Full list
5 days ago

McAlpine to kickstart £650m Nottingham Island Quarter

Construction to start on £9m first phase of giant scheme in October
5 days ago

Four injured during roof collapse in Windsor

Firefighters rescue workers from rubble after collapse
5 days ago

Groundworks boss banned for false tax returns

Insolvency Service investigates after contractor goes into liquidation
5 days ago

Buyers report robust construction recovery in July

Strongest rise in output for nearly five years
5 days ago

Planning revolution to open housing market to smaller builders

Planning to be revamped in bid to end dominance of major housebuilders
5 days ago

Nmcn still in profit despite Covid-19 crisis

Pandemic to cut margins to 0.5% this year but contractor confident in long term prospects
5 days ago

Shed builder Winvic hails £29m rail freight terminal win

Vast concrete pour to start in weeks on 30,000m3 terminal storage slab
6 days ago

Ibstock to shut three brick factories and axe 375 jobs

Brickmaker on cost-cutting push after £52m first-half loss
5 days ago

Hackitt slams industry’s ‘wait and see’ stance on building safety

Mace, Vistry and Construction Leadership Council praised for rising to safety challenge
5 days ago

Kier wins £160m Area 4 highways upkeep deal

Maintenance work to start in November on Kent and Sussex roads
6 days ago

25 demolition firms win places on Scottish framework

Demolition framework for Scottish council and housing associations
6 days ago

Amey clinches £240m deal to upkeep three major bridges

South west major structures inspection and maintenance worth £16m a year
6 days ago

Contractor services