Bouygues Development: “right time” for private sale scheme

By James Renoux-Wood - Thu 4 February 2016, 4:15 pm

Bouygues Development has indicated a willingness to develop for private sale in Barking and Dagenham.

Speaking at a roundtable event organised by BOLD magazine to discuss how best to accelerate regeneration projects in the borough, director Olivier Soulier, said it was “the right time” to develop for private sale.

In 2015 Bouygues Development finished work on 278 homes in four new buildings within a local conservation area on the banks of the River Roding. The entire scheme has been sold to the council.

Soulier said: “The only reason we have not developed private for sale so far in Barking was the value. To have private for sale units on the market today would have meant developing them two to three years ago in Barking. The values were miles away and it was a bit difficult from a viability point of view.  

“But today we would be very comfortable to develop a private for sale scheme. It would be viable – and from a consumer point of view too. Look at what has happened in Barking today, with rental and PRS schemes around the corner, a new leisure centre, and a new high street coming soon. This is the right time.”

Read the roundtable discussion, featuring senior memebers of the development community and the council, in the upcoming issue of BOLD magazine, available soon

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