Wandle Housing Association

Review of Wandle’s existing stock and land holdings for development potential

Altair undertook a pilot review of Wandle Housing Association’s existing stock and land holdings to identify new housing development opportunities. We reviewed 238 sites (1,650 homes) across Wandle’s existing stock portfolio in two London Boroughs and, after assessing the associated constraints and development potential of each, identified 45 sites with prospective new development opportunities (totalling up to 900 homes in total).

About the project

As part of its New Homes Growth Strategy, Wandle is committed to assessing its existing stock and land holdings for the potential of new development opportunities, with the aim of providing more affordable homes across its areas of operation. Altair was commissioned to undertake a pilot review of Wandle’s assets across two London Boroughs.

Through a desktop review of each site, we assessed: 

  • Existing performance (e.g. rents, voids, and long-term value of net rental income).
  • Key site constraints including plot size, planning considerations, adjacent massing, topography, arboriculture and ownership.
  • Potential for densification of homes and development capacity.
  • Collaboration opportunities through adjacent public sector land ownership.
  • Potential ‘marriage value’ of adjacent sites not in Wandle’s ownership.

Altair worked collaboratively with Wandle to agree a clear and robust assessment methodology with the final aim of producing an opportunity list of prioritised sites for further review by Wandle’s Development Team. We applied a three-staged approach to shortlist sites, where a set of quantitative and qualitative criteria was applied to score and ‘RAG rate’ likely development potential.

Routes to delivery for the shortlisted sites included:

  • In-fill opportunity to develop on existing open space.
  • Redevelopment of small sites.
  • Regeneration of larger sites with multiple properties, parcels of land, or leaseholders.
  • Rooftop opportunities to extend existing properties upwards.
  • Land assembly of adjoining sites that could be brought forward as one development.

Results

Our approach aimed to help ensure Wandle is making the most efficient use of its existing assets to supplement its development programme and New Homes Growth Strategy aspirations.

We produced a high-level case study for each of the 45 sites identified as having development potential, which included the site location, a summary description, the key constraints, the development opportunity and site-specific recommendations for Wandle to use to inform decisions to bolster its new homes pipeline.

The key outputs of the review include:

  • Desktop review of 238 sites (1,650 homes) across two London Boroughs for their development potential
  • 45 sites shortlisted as having development potential.
  • 16 sites identified as having immediate potential to deliver up to 400 new homes, and a further 29 sites identified as having some potential to deliver a further 500 new homes.

Due to the success of the pilot, Altair was commissioned to expand the review across Wandle’s remaining holdings in South London, which comprises a further 7 London Boroughs and over 5,750 homes. We identified a further 66 development opportunities, totalling 1,330 homes.

 

I am delighted to see the results from our Hidden Homes pilot, especially the potential Wandle have to deliver up to 900 high quality affordable homes. Wandle exists to support people across south London who need a home. At Wandle we aim to be a partner of choice, and we are looking to work with key local authorities to build new high quality affordable homes and sustainable communities to help reduce the housing pressure in London.
Jeremy Arnold, Head of Development

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