Wates Group, the family-owned development, building, and property maintenance company, has announced a significant new partnership with Guildford Borough Council (GBC) to develop a site in the heart of Guildford.
The £86 million project will transform a car park site into a vibrant urban neighbourhood, delivering up to 248 new homes with a commitment to 40% affordable housing. GBC is committing up to £39.7 million from the Housing Revenue Account to buy the affordable housing. This housing will be added to the 5,000 council homes it already owns and manages.
The initial proposals include 98 new affordable rent and shared ownership homes. The scheme will deliver a balanced mix of one, two, and three-bedroom homes, with some townhouses. Before finalising the design and seeking planning permission, extensive public and stakeholder consultation will take place.
The design work already carried out has set the scope for a sustainable housing scheme, that blends seamlessly with the surrounding environment.
The development will be designed to meet and exceed Future Homes Standards, achieving approximately a 90% reduction in carbon emissions. The scheme will also enhance and improve the natural habitat to achieve a 30% Biodiversity Net Gain.
Wates will also be delivering a social value programme valued at around £11 million. This will include creating 40 new jobs for local residents, alongside offering extensive training, work, and upskilling opportunities.
