Kevin McCloud (Grand Designs) apologises for delays in housing project
Posted: March 4th, 2019, 6:07 pm
A large-scale “Grand Design” project is under scrutiny near Winchester. Kevin McCloud of the TV series “Grand Designs” is the Chairman of the company (HAB) who have built an estate of houses but have not yet completed the project.
According to local articles (and the brochure for the development) a number of features were promised including a running track, an orchard and other landscaping amenities. These are yet to be completed.
See:
https://www.hampshirechronicle.co.uk/ne ... g-project/
https://www.habhousing.co.uk/sites/defa ... ressed.pdf
Out of interest I had a look at the site and could see as a layman that there was a lot of “finishing off” to do, including surfacing some of the estate roads and landscaping details. The residents have set up a group to lobby for things to be finished.
Sadly the estate (which includes houses which must have sold for around a million) reminded me of developments which preceded recessions in the past which took a long time to finish.
Also I read that the developers funded some of the costs by issuing high-interest mini bonds, see:
https://www.bbpmedia.co.uk/news/financi ... aised.html
As a keen watcher of Grand Designs, I wonder how this project will be finished. Do others, more knowledgeable about property development have any ideas?
regards
Howard
According to local articles (and the brochure for the development) a number of features were promised including a running track, an orchard and other landscaping amenities. These are yet to be completed.
See:
https://www.hampshirechronicle.co.uk/ne ... g-project/
https://www.habhousing.co.uk/sites/defa ... ressed.pdf
Out of interest I had a look at the site and could see as a layman that there was a lot of “finishing off” to do, including surfacing some of the estate roads and landscaping details. The residents have set up a group to lobby for things to be finished.
Sadly the estate (which includes houses which must have sold for around a million) reminded me of developments which preceded recessions in the past which took a long time to finish.
Also I read that the developers funded some of the costs by issuing high-interest mini bonds, see:
https://www.bbpmedia.co.uk/news/financi ... aised.html
As a keen watcher of Grand Designs, I wonder how this project will be finished. Do others, more knowledgeable about property development have any ideas?
regards
Howard