Catalyst & Galliard Homes form JV for Wimbledon Stadium Development
Catalyst and Galliard Homes have entered into a 50:50 joint venture agreement to develop 604 new homes and circa 18,000 sq ft of commercial space as part of the redevelopment of the former Wimbledon dog track.
The development, which secured planning approval in December 2017, includes both private residential and shared ownership apartments, as well as a new 11,000-seater stadium for AFC Wimbledon on Plough Lane.
The JV will be a partnership between Galliard Homes and a subsidiary of Catalyst. Together, they will manage the construction of the residential units and public realm. The JV also intends to provide 177 affordable homes which is over 30% of the entire development, surpassing the original 10% statutory amount set by Merton Council. The pair will work closely with the local authority to manage the delivery of the affordable proportion of the development.
Stephen Conway, Executive Chairman Galliard Homes, commented: “We are pleased to finally be able to move forward with this exciting development. There are so many components to this scheme that will benefit the local area and we are thrilled to have Catalyst on board who really have what it takes to make things happen in order to deliver a ground-breaking number of affordable units in a new residential scheme. I look forward to attending AFC Wimbledon’s opening match and celebrating the Dons’ return to the borough once the stadium is complete.”
Tom Titherington, Executive Director for Property & Growth at Catalyst commented: “I am excited to be working with an exemplar developer like Galliard on a great scheme which will create a genuine destination. Catalyst’s involvement has meant that the project now has triple the original provision of affordable homes, providing more good quality homes for first time buyers both through outright sale and shared ownership homes.”
Erik Samuelson, Chief Executive of AFC Wimbledon commented: “As a community-owned club we are delighted to be returning to our spiritual home in Plough Lane. In addition to bringing League football back to Wimbledon the new stadium will form a base from which to expand our award-winning community work. We are looking forward to working with Galliard Homes and Catalyst to develop a site that is a key part of Merton’s regeneration strategy for the borough. But most of all we are looking forward to bringing the Dons home.”
The scheme, designed by Shepard Robson and Wilson Owens Owens, will also see the delivery of a new fitness facility, retail space and a public piazza.
Ground works will start in March 2018, with construction starting in the autumn. Completion of the residential units is expected early 2021.The main residential sales launch is penned for later in the year, however the scheme is currently undergoing a soft-launch period, with marketing suite on site.