Red Door Ventures, London Borough of Newham
Airey Miller were appointed as lead consultant to provide a range of services including project manager, employer’s agent and principal designer to enable Red Door Ventures to deliver over 500+ units by 2018. The primary purpose of the wholly owned company of London Borough of Newham is PRS tenure housing. We are, in addition, delivering both affordable and PD housing for sale. The latter to enhance the viability and cross subsidy of the affordable units. The initial phase is over 9 sites based on a hub principal, again to generate viability across all sites.
RDV have also committed to our pre-contract construction management service to enhance value and ensure delivery of their desired brand and quality aspirations.
Wholly Owned Companies (WOCs) are being used within the pubic sector and construction industry as a competitive way for local authorities to deliver much needed homes to their residents, while still meeting ever demanding budget cuts.
Airey Miller played a significant role in setting up Red Door Ventures to allow Newham Council to secure new housing development in the borough.
Red Door Ventures is wholly owned by Newham Council and is one of the UK’s first development companies to be set up by a local authority to build new homes for private rent. Setting up a company in this way enables significant investment to be secured by Red Door Ventures to support the delivery of new housing that would not otherwise be accessible under the Council’s existing Housing Revenue Account arrangements.
Red Door Ventures can provide stable, reliable and high quality homes for residents to rent from a trustworthy landlord. Red Door Ventures has ambitions to bring hundreds of new homes to the market, transforming the housing choice currently available to households renting privately in
Client Red Door Ventures – a wholly owned company established by LB Newham
Deliver circa.500 PRS (private rented sector) units per annum
Phase 1 comprising 450 units – value £130m
Provide Viability and Project Modelling services
Pre-Contract Construction Management services provided
Collaborative Data Environment via 4Projects