Stockport rubber-stamps funding for 200 homes
The council’s cabinet housing committee has signed off backing for four developments to be progressed by Stockport Homes Group, with a combined value of £57.4m.
The schemes will be delivered using cash from the Housing Revenue Account capital programme, and are:
- London Road extra care, a £30.7m scheme with £13m Homes England support
- Romiley Liberal Club, a £3.8m scheme with £1.4m HE support
- Sunfield, a £16.5m scheme with £3.2m HE support
- Andrew Street phase two, a £6.4m scheme with £2m HE support
On top of the estimated cost of the schemes, cabinet was also asked to sign off a provision for a variation in final costs of up to 10%, meaning that the overall amount provided will be £63.2m.
All approved by the council’s capital board, two of the projects are described as officers as meeting local housing need for specialist and supported housing (121 homes), and the other two (adding up to 81 homes) as low-cost home ownership projects meeting the high need for first time buyers currently priced out of the Stockport market.
Stockport needs all types of housing, but the need is especially acute for specialist and age-friendly developments. A housing needs survey put the borough’s requirements at 1,305 new affordable homes per year, with over 9,250 on the waiting list.
Stockport Homes Group, said the report, will have delivered 1,091 new homes by the end of March 2026, supported by a loan facility provided by the council. In addition, it will have delivered 356 new homes through the HRA utilising HRA borrowing.
This represents a significant proportion of the overall affordable housing delivery in the borough over the last 10 years, with SHG delivering the single largest contribution and majority of the 1,500 homes delivered.
SHG is Stockport’s largest landlord, and includes within it Viaduct Housing, Three Sixty, and SKylight.
The total cost of the schemes will be made up of: grant funding £19.785m; brownfield development fund £4.420m; additional subsidy (right to buy receipts) £2.270m; sales £9.3m; borrowing of £21.673m.
Andrew Street is a scheme by Viaduct Housing at Compstall Printworks. Plans came forward in 2024 for a 12-strong block of supported living flats at the Romiley Liberal Club in Beech Lane.
