The Regenter Myatts Field North consortium has reached finanicial close on the Lambeth Myatts Field North Housing Private Finance Initiative (PFI) project. Led by Regenter – a housing scheme investor, developer and operator – the consortium also includes Higgins Construction, Rydon Maintenance, Pinnacle PSG and E.ON.
The project won approval from HM Treasury for £150 million (€186 million; $242 million) of government funding in February this year. The project aims to transform the Myatts Field North housing estate in Lambeth, south London, into a “new mixed and sustainable community”, making it a more “vibrant, welcoming and greener environment” according to a Regenter press release.
The 25-year project includes the construction of 808 new-build homes and the modernisation and refurbishment of 172 existing homes. It also includes: the development of a state-of-the-art landscaped park; the development of new streets, green spaces and allotments; the refurbishment of estate-based retail units; and the construction of a new community centre with sports facilities.
Last December, a Regenter-led consortium reached financial close on the £131 million Gateways to Oldham housing and regeneration PFI in the north-west of England.
Regenter is a 50/50 joint venture between developer John Laing and housing services firm Pinnacle Regeneration Group.
Financial close for UK housing PFI
A consortium led by investment group Regenter has reached financial close on the Lambeth Myatts Field North Housing PFI project in London. The project received approval for £150m of government spending in February.
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