Durkan bags housing deal worth up to £100m

Durkan has won a framework deal worth up to £100m to help develop homes in north London.

Durkan will be expected to bid in tandem with Brent Housing Partnership for housing development opportunities, predominantly in the borough of Brent.

The firm will be expected to fund the initial cost of building the new homes, as well as designing and building the properties. BHP is then expected to purchase and manage the homes on completion.

Most of the properties will be for rent, although a small proportion will be for sale. The number of homes to be built will depend on the joint venture’s success in bidding for sites to develop.

The frame work deal will run for four years.

BHP is an arm’s length management organisation (ALMO), which currently looks after 13,600 properties.