Taylor Wimpey and Sage Homes sign milestone affordable housing deal

●    358 much-needed affordable homes will be delivered under the partnership
●    The partnership is an exciting affordable housing deal for both companies
●    All completed homes will be energy-efficient, with either an EPC A or B rating

Taylor Wimpey, one of the UK's largest homebuilders, and Sage Homes, the largest provider of newly-built affordable housing in England, have signed a partnership deal to deliver hundreds of much-needed homes in east London.

The deal represents the largest affordable housing scheme for Sage Homes to date. The partnership will deliver 358 affordable homes - 272 shared ownership and 86 affordable rent – as part of the Coronation Square regeneration in Leyton. The scheme, which is the biggest of its kind in the borough, will deliver a total of 750 new homes built by Taylor Wimpey in partnership with the London Borough of Waltham Forest. In addition to the homes, Coronation Square will provide a range of new facilities for the local community including a new public square, cafés, shops and restaurants, as well as a new sport and leisure centre, early years nursery and an NHS medical hub.

Work has already begun on the affordable homes - a mix of one- to four-bedroom apartments across 12 blocks – with the first of these expected to be completed next year. Work is also underway on the private homes, a range of one- to three-bedroom apartments and two-bedroom townhouses.

Sage Homes will provide the 358 affordable homes under a joint partnership with Taylor Wimpey and the London Borough of Waltham Forest and will work with the council to let all 86 affordable rent homes which will go to people on the London Borough of Waltham Forest’s housing list who are assessed as being in housing need. Sage Homes will be the landlord for the 86 affordable rent homes.

As part of the partnership, Taylor Wimpey will deliver the shared ownership homes to the same specification as the private sale homes. Both the private and shared ownership homes will be sold by Taylor Wimpey from the new marketing suite at Coronation Square which is due to launch later this year. 

All 358 affordable homes at Coronation Square will be energy efficient with either an EPC A or B rating. According to the Office for National Statistics, this saves £460 on each household’s annual energy bill compared to the average, EPC D-rated UK home.*

David Pelle, Land and Planning Director at Taylor Wimpey London, said: “We have worked closely with the London Borough of Waltham Forest to ensure that Coronation Square delivers a range of homes that are accessible to local people. This deal is an exciting one for us and we are pleased to have signed a partnership with Sage Homes to deliver a large number of much needed affordable homes in Leyton. Coronation Square will be a fantastic new community and we look forward to welcoming its first residents.”     

Mark Sater, Chief Executive Officer of Sage Homes, said:

“We are delighted to be working in partnership with Taylor Wimpey and the London Borough of Waltham Forest to deliver a new, sustainable community at Coronation Square, Leyton.

“This is our largest single affordable housing scheme to date and represents an important milestone in our ambitious journey to deliver 30,000 new affordable homes by the end of the decade. 

“This deal underlines Sage Homes’ continuing strong investment and growth in 2022, and we plan to deliver more projects of this scale with partners that share our commitment to high-quality homes.”

Councillor Ahsan Khan, Deputy Leader for Waltham Forest Council and Cabinet Member for Housing and Regeneration, said: “We are glad to be working with Taylor Wimpey and Sage Homes in providing this affordable housing offer within the Coronation Square scheme, all of which will be energy efficient. On top of much needed housing, the development will also deliver attractive provisions for local people, such as a new Health Hub, a pre-school nursery, an enhanced indoor sports and leisure centre, a public square, and commercial space for shops and businesses.”