Lovell in £30m house scheme

Housebuilder Lovell Partnerships is thrashing out details of a housing redevelopment scheme worth up to £30m. Runnymede Borough Council wants to begin transforming a 212-home estate in Egham and a 91-home estate of flats and houses in Chertsey in the next 12 months.

The precast concrete homes built in the 50s and 60s, which are presently occupied, will either undergo extensive refurbishment or demolition and replacement. The redeveloped estates will include a mix of local authority housing, shared ownership homes and affordable open market housing.

Under the scheme, homes are sold at 30% below market value with the council retaining ownership of the discounted portion of the property's value.