Newham Council’s Canning Town housing PFI wins 4ps Excellence Award for Regeneration
19 July 2007
The £59 million Canning Town Housing PFI, created and delivered by Regenter for the London Borough of Newham, won the prestigious 4ps Excellence Award for the Regeneration and Place Shaping Category.
4ps is local government's project delivery specialist which works in partnership with all local authorities to secure funding and accelerate the development, procurement and implementation of PFI schemes, public private partnerships, complex projects and programmes. Its Excellence Awards celebrate the very best achievements in the industry.
Jim Saunders General Manager of Regenter said, ‘We are delighted that the vision and commitment that the London Borough of Newham has put into the Canning Town Housing PFI has attracted such a prestigious accolade.
‘The project has now been running for just over two years and will have refurbished 1,000 local authority and 200 leaseholder homes to decent homes standard on completion – making a huge difference to thousands of people’s lives in the Borough.’
Further details on the Canning Town PFI schemeThe Canning Town and Custom House area in the East End of London has a fascinating history. During the Second World War nearly 85% of its housing stock was lost. The area is now in one of the most vibrant regeneration areas in London and the PFI ensures that the homes in the area receive much needed investment for improvement alongside the development of new homes and improvements to the transport infrastructure.
Canning Town is located in East London, in the London Borough of Newham, immediately east of Canary Wharf and close to the site for the 2012 Olympics. The Canning Town Housing PFI project is one of the original eight housing PFI ‘Pathfinder’ projects and comprises the refurbishment, maintenance and management of over 1,200 local authority homes to the Decent Homes Standard. Initial refurbishment will be completed in 2008 with the management and maintenance of the homes for a total of 30 years. The properties are a mix of low and high rise blocks, street properties and sheltered housing.
The project company formed to act as PFI contractor is Regenter London City East Partnerships Ltd (RLCEP) and is a wholly owned subsidiary of Regenter. Initial refurbishment and lifecycle, planned and responsive maintenance and call centre services are being carried out by Equipe, a joint venture between Equion FM and Pinnacle Maintenance Services. Housing management, estate services and the front office liaison services are being provided by Pinnacle The senior debt provider is Dexia Credit Local.
The total value of the project is £59m.