Our latest joint venture bringing affordable homes to Hertsmere

We’re so pleased to announce that our proposed joint venture with Hertsmere Borough Council has been backed by the council – paving the way for a new partnership that will bring more affordable housing to the people of Hertsmere.

Our third joint venture of this kind, this newest partnership comes off the back of our ongoing success working closely with Three Rivers District Council (Three Rivers Homes) and Watford Borough Council (Hart Homes), though we are yet to formally settle on a name! 

The plans to create a company between Clarendon Living (our commercial arm) and Hertsmere Borough Council were given the green light at a recent council meeting, which is good news for the provision of affordable homes in the Hertsmere area.

So, what does this mean for residents? Well, we will utilise all of our learning from past joint ventures to accelerate the provision of high-quality, cost-effective homes, and the council will ensure that these new homes go to those who are most in need.

According to data from the recent Local Housing Need Assessment, Hertsmere households must earn at least £67,000 to afford to buy a property and £34,400 to rent privately. However, the lower quartile income level for Hertsmere’s population is £25,300. Ultimately this joint venture has been established to ensure that all Hertsmere residents have access to affordable, future-proofed homes.

Commenting on the new partnership, Tina Barnard, our Chief Executive, said: “Simply put, we’re stronger together. This joint venture will deliver more affordable housing for Hertsmere, while allowing the council to ensure that it goes to the local people who need it most. The only way that the UK can begin to address the overwhelming demand for affordable housing is through proactive partnership working.

We have already established two very successful joint ventures with local authority partners in Hertfordshire, which are delivering desperately needed homes for people in both Watford and Three Rivers. I’m delighted that we are now creating a third such company to bring similar benefits to Hertsmere residents, in the form of the quality, affordable homes that they deserve.”