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Wichelstowe, Swindon

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Presentation by Deb Heenan, Swindon Borough Council, on the Wichelstowe development

Presentation by Deb Heenan, Swindon Borough Council, on the Wichelstowe development

Published in: Business, Real Estate

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  • 1. 1 DebWichelstowe Delivering homes at pace and volume 1. We need more homes now: • Homes • Jobs • The right mix of homes 2. Wichelstowe can deliver: 3. We have improved viability: • Have land • Have planning permission • Have infrastructure in place • Driving up values and sales rates • Driving down costs, risks and time 4. We have a 12-18mth plan: • Procuring a JV • Progressing detailed planning • Delivering Waitrose (Easter 2014)
  • 2. Revised Wichelstowe Masterplan
  • 3. More homes = more homes + construction jobs. The right mix = economic recovery + viability opportunity. 3 • Rapid expansion up to the banking crisis. • Almost all volume built “develop and go” • Only a narrow segment of the market was targeted. This slowed build/sell out rates and led to an imbalance in the stock and population -6000 -4000 -2000 0 2000 4000 6000 8000 Lower income single elderlies Mixed hard pressed council tenants Lower income mid-age fam's y'ng child'n Y'ng benefit singles often lone parents Low income y'ng couples/singles Very low income y'ng sharers Avg income pensioners Older comfortably off fam's Avg income y'ng profs but illiquid Comfortably off younger fam's Avg income y'ng renting couples/singles Wealthy older/retired couples Wealthy mid-aged prof.fam's Very wealthy mid-aged fam's We have many fewer “wealthy/very wealthy” households and correspondingly more “average” . Chart compares distribution of households into 14 Experian Categories compared to national average for England. Previous Growth
  • 4. Thus socio-economics need to rebalanced Demographic challenge also needs to be addressed 4 • Opportunity: Products for missing wealthier (prices, mortgage) • Opportunity: Products for the over 55’s (demand, mortgage) • Opportunity: Wider range of products (de-risking, faster build out) Future Opportunity
  • 5. Integrating Extracare into new developments brings financial/social benefits and speeds up build rates Amenities Extracare housing “Mainstream” housing Extracare housing “Mainstream” housing Amenities Extracare and other new housing on separate sites Wellbeing centre Café, restaurant, bar Health centre, gym Social indoor/outdoor space Shops Extent of integration of facilities will vary Our approach: integrated district centre and integrated neighbourhood Challenges: • Land hungry so expensive • Segregated • Low footfall on amenities makes them less viable Challenges: • Land hungry • Not intergenerational • Low footfall on amenities because not enough density. Higher density Higher density Lower density Lower density Benefits: • Less land hungry so more viable overall • Intergenerational with social/safety benefits • Higher footfall and at different usage times makes amenities vibrant and viable. • Savings on building facilities once not twice
  • 6. Housing Parcel Testing