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DebWichelstowe Delivering homes at pace and volume

1. We need more homes now:• Homes • Jobs• The right mix of homes

2. Wichelstowe can deliver:

3. We have improved viability:

• Have land• Have planning permission• Have infrastructure in place

• Driving up values and sales rates• Driving down costs, risks and time

4. We have a 12-18mth plan: • Procuring a JV• Progressing detailed planning• Delivering Waitrose (Easter 2014)

Revised Wichelstowe Masterplan

More homes = more homes + construction jobs. The right mix = economic recovery + viability opportunity.

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• Rapid expansion up to the banking crisis. • Almost all volume built “develop and go”• Only a narrow segment of the market was targeted. This slowed build/sell out rates

and led to an imbalance in the stock and population

Lower income single elderlies

Mixed hard pressed council tenants

Lower income mid-age fam's y'ng child'n

Y'ng benefit singles often lone parents

Low income y'ng couples/singles

Very low income y'ng sharers

Avg income pensioners

Older comfortably off fam's

Avg income y'ng profs but illiquid

Comfortably off younger fam's

Avg income y'ng renting couples/singles

Wealthy older/retired couples

Wealthy mid-aged prof.fam's

Very wealthy mid-aged fam's

-6000 -4000 -2000 0 2000 4000 6000 8000

We have many fewer “wealthy/very wealthy” households and correspondingly more “average” .

Chart compares distribution of households into 14 Experian Categories compared to national average for England.

Previous Growth

Thus socio-economics need to rebalanced Demographic challenge also needs to be addressed

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• Opportunity: Products for missing wealthier (prices, mortgage) • Opportunity: Products for the over 55’s (demand, mortgage)• Opportunity: Wider range of products (de-risking, faster build out)

Future Opportunity

Integrating Extracare into new developments brings financial/social benefits and speeds up build rates

Amenities

Extracare housing

“Mainstream” housing

Extracare housing

“Mainstream” housing

Amenities

Extracare and other new housing on separate sites

Wellbeing centreCafé, restaurant, barHealth centre, gym

Social indoor/outdoor spaceShops

Extent of integration of

facilities will vary

Our approach: integrated district centre and integrated neighbourhood

Challenges:• Land hungry so

expensive• Segregated • Low footfall on

amenities makes them less viable

Challenges:• Land hungry• Not intergenerational • Low footfall on

amenities because not enough density.

Higher density

Higher density

Lower density

Lower density

Benefits:• Less land hungry so more viable overall• Intergenerational with social/safety benefits • Higher footfall and at different usage times

makes amenities vibrant and viable.• Savings on building facilities once not twice

Housing Parcel Testing