Commercial Property News

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Thursday, April 13, 2023

Fourteen more English councils bid for PFI investment

Fourteen more councils have asked to develop housing Private Finance Initiative schemes to build more social rented homes as part of a drive to regenerate their local communities.

PFI plays an important role for local authorities wanting to improve and increase the supply of homes or as a means of regenerating an area. Nine new build schemes and five decent homes and local regeneration schemes have been submitted as expression of interest bids to the fifth bidding round.

The proposals are from councils across six regions in England, including London, South East, North West, North East, West Midlands and Yorkshire & Humberside. The outcome of successful fifth round bids will be made in the summer.

In May a new bidding round for ALMOs and housing transfer for those local authorities not yet on a decent homes programme will be launched. This bidding round will close at the end of July with the outcome announced in the Autumn.