Rund has been appointed as Countryside and Abri’s Joint Venture Supervisor for a significant development on the former Ford Airfield in West Sussex. The plan will transform the site with a 60-bed care home and 1,500 homes, of which 960 of the homes form the joint venture with the remainder retained by Vistry Group. This includes shared ownership, first home and rental tenures. A minimum of 30% will be affordable housing, with a further 20% allocated as either build to rent (BTR) or additional affordable housing.
Alongside this, the development is set to bring multiple benefits to the community, including plans for a new local centre with commercial and retail amenities, extensive community and leisure facilities, allocated land for a new primary school, and expansive public areas such as sports fields and allotments.
As Joint Venture Supervisor, Rund will manage and facilitate decisions between all parties to understand and advise, where necessary, on all aspects and phases of the construction programme. The expert team will help ensure long-term positive relationships by providing regular reporting, support, review of financial modelling, and guidance in board meetings, to keep the project moving forward whilst maintaining a duty of care to Countryside and Abri and their partners.
Leading to this appointment Rund provided Technical Due Diligence services to Abri, a large housing provider with more than 50,000 home and various community assets, on its 50/50 joint venture acquisition of the former Ford Airfield, as part of the JV acquisition with Countryside.
The expert team provided technical due diligence surveys and reports focused on risk identification, mitigation and management as well as development funding agreements, carefully tailored to Abri’s requirements. Rund’s role has been instrumental in structuring a deal that works for both partners, giving them confidence in the site’s potential from the earliest stage.
Jo Rothery, Senior Surveyor at Rund commented, “We’re looking forward to working with the team on this significant project, using our experience to make sure it delivers the best outcomes at all stages. This is a substantial project that is set to significantly impact the supply of affordable housing in West Sussex, and bring extensive benefits to the local community.
“Rund understands the complete process to achieve success for JV stakeholders and has a proven track record, with the team currently working on leading JV and strategic developments nationwide, totalling over 10,000 residential units.”
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