Joint venture signed to develop former St Luke’s Hospital site in Muswell Hill
7 April 2015
A joint venture signed by Hanover and the top 20 UK housebuilder Hill will see the biggest single development in Hanover’s 50-year history.
The development will see 161 homes created on the six-acre site of the former St Luke’s Hospital in Muswell Hill, north London. Some 70 per cent will be for people over the age of 55, encouraging those living locally to downsize from larger family homes. Thirty properties have been earmarked for a cohousing community, led by the Woodside Cohousing group.
A further 17 town house family dwellings will be available to all age groups.
Around 48 of the homes have been earmarked for affordable rent or shared ownership.
The new homes will be built sympathetically alongside existing listed buildings and are expected to be available from the spring of 2017.
At the signing of the joint venture with Hill, Hanover Chief Executive Dame Clare Tickell said: ‘Hanover has over 50 years’ experience of developing quality, affordable housing for people over 55. With that experience we’re well placed to introduce innovative new housing solutions – adding to housing choice.
‘We’re delighted to be signing a joint venture with Hill to develop the St Luke site in Muswell Hill. This is the single biggest development in our history, one which demonstrates our desire to deliver innovative, affordable solutions to the housing market. In Hill we have an excellent and trusted build provider, with whom we have worked collaboratively on many high quality schemes in the past.’
Andy Hill, Chief Executive of Hill, added: ‘Research shows that downsizers in London can unlock £290,000 on average when trading down. However, the absence of suitable housing is preventing many from making that step. This diverse and particularly innovative development will start to address the acute housing shortage in this area, helping a broad spectrum of local residents, as well as revitalising a local landmark.’