Release date: 24 October 2003
Promoter – Financial Intermediary
Sunderland Housing Group
Contact point: Andrew Taylor, FD,
Emperor House,
2 Emperor Way, Doxford
International Business Park,
Sunderland,Tyne and Wear
SR3 3XR United Kingdom.
Location
Description
Following its purchase of Sunderland City Council’s social housing stock, the Sunderland Housing Group (“SHG”) is to undertake a second phase of its planned improvement programme, as part of the city’s wider urban renewal strategy. The second phase will consist of building 3000 new houses for social rent to replace poor quality stock which is to be demolished.
Objectives
The objective is to extend SHG’s programme for the renewal of the urban environment in Sunderland by modernising the city’s social housing.
Comments
Construction/ social housing.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 108 million (GBP 75 million)
Total cost (Approximate amount)
Up to EUR 359 million (GBP 250 million)
Environmental aspects
The construction of new properties will lead to improvement in the efficiency of tenants’ energy usage and will significantly enhance the local urban environment. In its appraisal, EIB will review the project’s planning requirements and environmental implications.
Procurement
Registered Social Landlords are private entities and while SHG therefore does not fall within public sector procurement regulations, it will use open competitive tender for the majority of the works.
Status
Signed - 25/06/2004
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).