Tenure Variation
The ability to vary a specific tenure mix exists where on site provision of affordable housing might otherwise be compromised.
Tenure variation can serve to benefit both local authorities and house builders/developers/landowners by ensuring that on site provision is safeguarded on the one hand and value/viability is enhanced on the other.
This can be achieved in a number of ways including:
- assessing the overall mix of unit types;
- re-addressing the overall number of affordable units provided;
- when factors allow, varying a tenure mix to allow for higher proportion of Intermediate units.
In one of many similar examples, in 2016, Landspeed secured a variation of the affordable housing tenure mix within a development in Romsey in Hampshire where the consented provision was for 4 Affordable Rented units and 2 Intermediate.
No Registered Providers could be identified by the developer (Talisman Homes) to deliver the scheme and Landspeed agreed a variation that allowed for all 6 units to be delivered as Intermediate homes – thereby ensuring on site provsion for Test Valley Borough Council and delivering home ownership at affordable prices to local people (while notionally enhancing the value/viability for the developer).
