Housing Delivery in

Simon Baxter and Ashton Freeman Introduction

Simon Baxter, Head of Regeneration and Special Projects

Ashton Freeman, New Business Manager Part 1 • Introduction to Optivo • Development Strategy and aims • Development team structure • Areas of Operation

Part 2 • Tenure types • Joint Ventures

Part 3 • East Sussex Development Sites • Deal types going forward

Optivo at a glance

• Merger between AmicusHorizon and Viridian Housing 18 months ago

• 45,000 Homes owned and managed

• Geographically located across , South East and the Midlands

• Member of the G15

• £3.5bn secured to deliver a minimum of 1,500 homes a year for the next decade

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Our values and strategy

Our Values Our 2018/2019 Objectives

• Our values guide our people and inform their behaviours and decisions as well as underpinning the successful delivery of our objectives

• Customer Focused • One Team • Respect • Enthusiastic

4 Building Homes Making Places Enhancing Lives

Development Strategy / aims overview

• 1,003 homes started on site 2018/19

• 1,500 homes started 2019/20 and 1,650 homes in both 2020/21 and 2021/22

• 60% in London - 30% in and Sussex and 10% in the Midlands

• Homes Strategic Partner Status – 1,000 more homes started by 2022 and completed by 2024

• GLA Strategic Partner Status – 3,600 more homes by 2023

• c£190 million in grant money available

Development Growth Priority 1 Areas areas 1 Barnet London and 2 Bromley 3 Croydon 5 4 Ealing 5 Enfield 1 6 Greenwich 7 27 7 Haringey 8 Lambeth 17 20 18 9 Lewisham 26 23 10 Merton 4 28 11 and 19 21 12 Southwark 12 6 16 13 Sutton 24 15 8 9 14 Tandridge 15 Wandsworth 10 22 25 2 Priority 2 13 3 areas

16 Bexley 17 Camden 18 Hackney 11 19 Hammersmith and Fulham Jan 20 Islington 2019 14 21 Kensington and Chelsea 22 Kingston upon Thames 23 Newham 24 Richmond upon Thames 25 Runnymede 26 Tower Hamlets 27 Waltham Forest 28 Westminster

Optivo in East Sussex

We have 5,300 Homes in East Sussex

In East Sussex we have a large presence and stock holding Currently we have c456 homes under construction or about to commence onsite or contract We’ve selected a few to give a flavour of the sorts of Developments we’re working on.

Cricketers Field • Comprising of 10 homes • Mixed Tenure S106 (Affordable Rent and Shared Ownership) • We’re not likely to do many more of the smaller S106 sites going forwards unless we can get more homes on the Development we can put grant into. We’ll cover more detail on this in a later slide. Tenure Types For Affordable Housing

Brief overview of each tenure type.

• Social Rent • Affordable Rent • Intermediate Rent • Private Rent Sector (PRS) • Shared Ownership

Joint Venture Models and structures

1. 50-50 LLP (with a developer)

2. Local Authority or Public Body

3. Joint Venture Profit Share (discount build)

4. Umbrella Agreement with a developer partner - Hunting facility

5. And others….institutional investors, Homes England etc.

Benefits of Joint Ventures

We’re keen to work with partners who can offer us something in a JV partnership

Land and strategic opportunities

• Brand (great design, sales track-record)

• Technical expertise

• Build cost certainty

• Risk sharing and capacity growing appetite

Optivo Schemes in East Sussex

Development Construction have

Oakline in Heathfield • This comprises of 46 homes • Mixed tenure (Affordable Rent and Shared Ownership). • 20 homes handed over in March 2019 – the remainder being delivered in the coming year. Barnhorn Lane • Large S106 site. The S106 comprises 103 homes. • Mix tenure delivered over 10 year period. Winchester House • This comprised 26 homes (Refurb and New Build) • Affordable Rent. Partnership with Hasting Council.

Optivo Schemes in Sussex New Business

Development New Business have

Steellands Farm

• Comprising of 40 New Build homes • Wholly affordable site provision here (over provision of affordable homes allowing grant allocation) • Mixed Tenure

Optivo Schemes in Sussex New Business continued…

Tollgates • Comprising of 63 homes. (New Build) • Mixed Tenure (over provision of affordable homes but we’re also delivering Open Market Sale homes here).

Sussex Plants • Comprising of 160 homes. (New Build package deal) • Mixed Tenure (over provision of affordable homes and provision of OMS) • 50/50 split on OMS vs Affordable. Going forward

Type of Deal

• Joint Ventures • Partnerships • Packages • Some S106 sites (with an eye on additional homes for grant purposes) • Regeneration • Land only/options • Ranging in size from 30 home upwards