Homes England has been revealed as the buyer of North West Quadrant (NWQ), the former Thames Valley University (TVU) site in Slough.
Slough Borough Council approved the sale of the site at a cabinet meeting on March 7 but the buyer’s identity had been kept under wraps. The cash-strapped council had planned to develop the site under the Slough Urban Renewal joint venture with Muse Developments.
Now Muse and Homes England, the Government’s housing and regeneration agency, will start work on public engagement this Summer for a revised masterplan.
Chris Scott, development director for Muse, said: “As a business, we’re committed to finding sustainable solutions to deliver place-changing regeneration that benefits communities across the UK in any way we can. This deal in Slough with Homes England is a perfect example of how strong partnerships between the public and private sector, can overcome challenges to achieve shared goals.
“For the past decade, through our Slough Urban Renewal joint venture, we have already successfully created much-needed affordable homes and a number of amenities, such as schools, leisure and sporting facilities in the town.
“We’ve also secured planning on the Stoke Wharf and Montem Lane sites, which will bring forward an additional 500 mixed-tenure homes.
“Slough’s a fantastic town, rich in history, and we’re delighted to reach an important milestone that’s secured the future of the North West Quadrant and we look forward to engaging with the local community and key stakeholders again soon.”
Ken Glendinning, national director – acquisitions and partnering for Homes England, said: “The acquisition of the former Thames Valley University site is an important milestone in the creation of the North West Quadrant destination.
“Our role is to connect local places and the private sector to support the creation of new, quality homes and we’re pleased to build on our long-standing partnership with Muse to bring forward this key town centre site.”
Council leader, Cllr James Swindlehurst said: “the council has spent months negotiating the details of this successful sale to Homes England of the former TVU site. As a specialist regeneration organisation Homes England already has existing projects it has completed with Muse, so they will be able to hit the ground running to move forward the redevelopment of this major town centre site.
“The funding that they bring to the project will ensure all the council’s key objectives in creating a new neighbourhood with new town centre amenities will be carried forward and delivered by a specialist regeneration partnership with a strong track record of transforming large and complex sites.
“I am delighted we have agreed this multi-million pound sale, the scale of which significantly improves the council’s financial position whilst ensuring our key priorities are delivered by a trusted and respected specialist partner on this site.”
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