June/July 2007

The Granary, Lloyd George Avenue

Another Excellent Low Cost Home Owenership Opportunity: Be Quick They’re Selling Fast

1 Beds from £72,380*
2 Beds from £89,180*

Last month we announced the release of twelve stylish one and two bedroom apartments for sale at the Granary, Lloyd George Avenue, Cardiff Bay. This private development is mid-way between Cardiff Bay and the city centre – an unbeatable location for those looking to live in the heart of the city. In May we sold ten (subject to contract) and now have just two remaining. So if you think this might be for you: read on, but be quick

First-time buyers and others will be able to get onto the property ladder by paying around 70% of the open market value of the property, which range from £103,400 to £154,000*, through either a mortgage or mortgage and deposit combined. They will receive a loan for the remaining percentage with nothing to be repaid until the property is sold.

The buyers will own their apartments outright and can pay off the loan after three years if they wish, but are not obliged to pay it back until they sell when it is calculated as a percentage of the sale price.

The Granary apartments have fully fitted kitchens and bathrooms and a secure door entry system. The sales are being managed by Cardiff Council and CCHA. Would-be buyers will need to fit certain criteria to be eligible, including income – these apartments are for people who want to own their own home but cannot afford to do so in Cardiff’s expensive property market.

 So, if you thought owning your home was out of your reach in Cardiff – think again!

• More information is available at www.myplaceinthebay.co.uk
• By calling 029 20 537366
• E-mail LCHO@cardiff.gov.uk.

Spring ‘CHAT’ Hits The Street – Woth A Thump!

A bumper spring edition of CHAT, our tenants’ newsletter, is available to download from the site now.

In this issue read about:

• Our new £25,000 community garden in Adamsdown, which is rapidly taking shape
• Our family ‘drumming’ day organised with ‘RACE’ our resurgent BME tenants’ group
• Our successful partnership with ‘Communities at One’ which has provided £11,000 of computers and computer classes for our Tremorfa Community Hall
• Our new streamlined complaints procedure
• And much more!

To read previous issues of CHAT, please Click Here.

‘Open-Book’ Initiative Breaks New Ground

An initiative which could spell the end of competitive tendering between housing associations and the construction industry is being pioneered in Cardiff.

The project is being undertaken by CCHA and construction company Midas, using the newly devised ‘Open Book’ approach. Our £4 million affordable housing development in Sanquhar Street, Splott, has been chosen as the testing ground, and the industry is eagerly awaiting the results.

If successful, the plan is to channel £100 million of work through the new process within five years.

Kevin Protheroe, Chief Executive of CCHA, explained: “The principles of ‘Open Book’ are enshrined in the Integrate organisation, a consortium of Welsh Housing Associations. “The idea is that projects will be totally transparent and collaborative from start to finish, with full disclosure of all costs. The contractor and client agree a ‘cost model’ for the project, and risks are identified. The contractor gets a fixed sum for profit and overhead, and any unforeseen risk is borne by the client.” This means, he says, that the contract price is likely to be a far truer reflection of the cost, and the contractor will not, as has always happened in the industry, be required to build in a cost for eventualities. The days of the contractor submitting tenders and the cheapest being chosen may be at an end if the new approach takes hold.

Dave Haskell, Director of Midas in South Wales, is delighted to have been selected for the trial. “All eyes in the industry are on this,” he said. “If it is a success – and we are confident it will be – it will be a framework for the future and could well change the way things have worked for many years.”

Partnership and openness underpin the new method. A greater time is spent planning projects, identifying risks and problems before the start, with all parties working in harmony. This should mean that costs should be lower, by eliminating waste and lost time, and removing the adversarial approach which can be a feature of construction projects.

“The Open Book policy means that everyone goes into the development with more certainty than would have been the case in the past,” added Mr Haskell. “It will require close cooperation between all parties involved, but I am confident about this as Midas has always been noted for this in any event, and this is partly why we have been chosen.”

“Open Book is an enlightened and forward-thinking strategy,” added Mr Protheroe. “The flaws of competitive tendering have been apparent for many years, and the industry has been seeking alternatives for some time.”

The Integrate Consortium was launched in 2005, based around the concept of Regional Economy, Local Delivery. It comprises eight members from Cardiff in the East to Pembrokeshire in the West, and has far-reaching aims in terms of building a network of relationships between housing associations, local authorities, contractors and others. For building purposes, Integrate has now identified five main national contractors, of which Midas is one, and 45 other regional companies.

A supply chain is in place linking all parties, and once Sanquhar Street is complete it is planned that £100 million of work will pass through the chain by 2011.

Identifying the companies which make up the chain has been a thorough process, including extensive analysis of the strengths of Midas and other successful parties.

Sanquhar Street will be a five-storey building with 40 apartments and parking, which will provide affordable accommodation. CCHA has worked with Cardiff County Council to plan the project, and the major part of funding has been provided by the Welsh Assembly Government.

To keep up-to-date with all our Development, please click here.

*All prices are subject to final valuation.

The news page will be taking it's summer holiday in July, normal service will resume in August!

Next Update: August 2007.