Council looks at major investment to expand Nuplace
The Council is planning a £48 million investment into its private sector housing company Nuplace Ltd that would see it create another 320 new homes for rent in the borough - a near 70% increase in its portfolio.
This would see seven new “brownfield” sites in the borough developed and for the first time would see the refurbishment of around 100 existing homes for rent.
Under the plans, which go to the Council’s cabinet next week, the number of homes under Nuplace would grow from 466 either already built or under construction to 786 by mid 2024.
Subject to full council approval, this would be by funded by £38.5 million from the Council’s own Regeneration and Investment fund set up to boost development and growth in the borough. The remaining £9.5 million is funding already allocated by the Council to Nuplace.
Among the seven sites that would be developed and regenerated are Station Quarter in Telford town centre, where 50 new homes would be built, as well schemes for the old New College and Charlton School sites in Wellington, which are key parts in wider regeneration proposals for these areas, and another site in Donnington Wood.
Nuplace also plans to regenerate two redundant but historically important sites in the borough - the Grade II listed Gower building in St Georges which would be transformed into 19 homes and 20 homes located off Main Road in Ketley Bank. Both would be subject to more detailed surveys and planning before any schemes can go ahead.
Almost two thirds of the planned new homes would also see the delivery of carbon reduction measures such as solar panels or electric vehicle charging points to support the Council’s Sustainable Telford and Wrekin campaign and help meet its commitment to tackle climate change.
Since it launched in 2015, Nuplace has:
•Built 329 new homes for rent with 129 more under construction. This next phase would add another 320 homes to its portfolio.
•Earned the Council more £4.4 million extra income after borrowing and other costs, while creating valuable new assets that the Council owns.
•Raises standards among private landlords in the borough, with many people actively choosing to moving into a Nuplace home.
•Helped boost the local economy, creating many new jobs in construction and in the supply chain. To date around £32.5 million of Nuplace’s investment in developing homes has been spent with businesses within 18 mile radius of Telford.
•Created many other opportunities for borough residents through apprenticeship and sponsorship.
Cllr David Wright, cabinet lead for Economy, Housing, Transport & Infrastructure, said: “Nuplace has been a massive success story for the borough and now we want to take this on to the next level.
“It’s a very clear example of what this council is all about – protecting and caring for its residents by providing quality rented homes with a trusted landlord while driving up standards among landlords.
“It’s also about investing to create a better borough – we are developing previously used brownfield sites to provide much-needed homes for rent, including increasing numbers of properties that are more affordable and equipped for lower carbon living.
Cllr Lee Carter, cabinet lead for Neighbourhood, Commercial Services & Regeneration said: “Nuplace shows how councils can think creatively to create new source of income to support key services while at the same creating a very valuable future asset for the people of the borough.
“It generates profits to help fund services, boosts our economy, local jobs and the regeneration of the borough while providing a service people here need.
“It’s no surprise that many other councils are looking to copy what we are doing and what Nuplace has achieved.”