Mears and London Borough of Waltham Forest Joint Venture
Waltham Forest, where more than £3.4 million is spent every year on emergency housing, agreed to go into a joint venture with Mears to buy 400 homes to put a roof over the heads of people in housing crisis. Almost 100 households in the borough live in B&Bs, while another 2,326 families are in “a form of temporary or hostel accommodation.”
The scheme will make a real difference to people and follows on from a similar scheme that Mears arranged with Bromley. Mears will manage the housing over a 40 year period.
Our aim is to provide Waltham Forest with an alternative, affordable housing supply to replace the significant bed and breakfast accommodation costs currently incurred on homeless local people. Mears has engaged funding partners to finance the purchase of properties on behalf of our partner, and we carry out refurbishment works and act as managing agent for the portfolio.
Nature of the Service
- Privately Placed Bond to purchase and refurbish 365 homes
- House homeless families who would otherwise be living in Bed & Breakfast or expensive temporary accommodation
- Mears manages the acquisition and improvement works
- Through our Registered Provider, we will also manage and maintain the homes
By working with our partners, Mears is innovating to provide answers to some of our most deep-seated policy issues which is why we have become the largest supplier of temporary accommodation in the UK.