Guinness Partnership (The) Limited Joint Venture (5217V)

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RNS Number : 5217V

Guinness Partnership (The) Limited

06 April 2023

THE GUINNESS PARTNERSHIP AND COUNTRYSIDE PARTNERSHIPS JOIN FORCES TO DELIVER PHASE 2 OF SIGNAL PARK IN TOLWORTH, KT5

The Guinness Partnership, one of the UK's largest providers of affordable housing, has partnered with Countryside Partnerships, one of the UK's leading mixed-tenure developers, to jointly deliver Phase 2 at Signal Park - the GBP400m redevelopment proposal in Tolworth in the Royal Borough of Kingston upon Thames.

Through a 50/50 joint-venture partnership, Guinness and Countryside Partnerships will deliver much-needed, mixed-tenure homes as we move forward with the next phases at Signal Park, ensuring the new development best meets the needs of the local area. will target at least 35% affordable housing across the site as a whole and may include an element of Private Rented Sector Homes as well.

A cycle hub will be provided to promote active travel for residents and there will also be gardens and green public spaces to create an attractive environment for residents as well as improving biodiversity and sustainability.

The development provides the opportunity to deliver a range of social value initiatives to benefit the wider communities by directly responding to Tolworth's needs, providing benefits to the scheme over the course of the development and beyond.

Guinness offers housing to meet a diverse range of needs, including social rent, affordable home ownership options and housing for older people. Arcadis has been appointed as the joint venture supervisor.

Kevin Williams, Group Director of Development & Commercial Services, The Guinness Partnership said: "We are looking forward to working with Countryside Partnerships on our development at Signal Park, to provide much needed, high-quality homes in Tolworth, reinforcing our commitment to Kingston's ambitions for the area.

"We are already creating a vibrant and exciting place to live and work, as we build out the first phase of this development for affordable home ownership. The hundreds of homes that will be provided over the coming years will make a huge difference to the community."

Stephen Teagle, Chief Executive, Countryside Partnerships said: "This is a fantastic scheme to be delivering in collaboration with The Guinness Partnership. We look forward to working together to provide a diverse mix of new housing tenure for Tolworth. As a partnerships-based business with a track record of delivering successful large-scale schemes, we are committed to building highly collaborative relationships with our partners and stakeholders.

"This is an exciting opportunity to reinvigorate Tolworth by creating welcoming mixed-tenure neighbourhoods with an abundance of green spaces and amenities for residents to enjoy for many years to come."

Richard Jones, Senior Technical Director, Arcadis commented: "Arcadis is extremely pleased to be supporting Guinness and Countryside Partnerships in this exciting major development at Tolworth. This joint venture partnership reflects the cutting edge of collaborative working and will deliver much needed homes in the most efficient and effective way. Our specialism in complex joint venture monitoring, coupled with our cost and financial reporting, will be key to delivering at pace and within an environment of complex external pressures."

-ENDS-

MEDIA ENQUIRIES

 
 Countryside Partnerships               0 7962 387 949 
  Sara Champness / A lex Reid            Countryside@secnewgate.co.uk 
 The Guinness Partnership 
 
  Rob Elliott - Director of Corporate    robert.elliott@guinness.org.uk 
  Finance

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April 06, 2023 03:00 ET (07:00 GMT)

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