Latest news with #Nuplace
Yahoo
a day ago
- Business
- Yahoo
Council's housing firm sees profits rise by 18%
A council-owned housing company has seen its profits rise by 18% in the last year. The profits allowed Labour-run Telford and Wrekin Council to put an extra £302,000 into its budget, a meeting was told. Since Nuplace was formed in 2015 the council has built 608 homes, with a further 276 planned or in delivery. Conservative councillor Rachael Tyrrell said she was supportive of the provision of homes, but added: "The rental yield is well below par." She pointed out the council had spent £93m on the company over the last 10 years. Richard Overton, the Labour councillor responsible for housing, said creating Nuplace in 2015 had been a "bold decision". It was done, he said, to "try to improve the private rented market and offer a good quality tenure," but it had also provided a dividend for the council, its sole shareholder. Labour councillor Nathan England said the council also benefited from more people living in local homes and paying council tax. This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram. 'Huge interest' in town centre eco-homes Rental homes plan passed amid opposition Telford and Wrekin Council
BBC News
a day ago
- Business
- BBC News
Telford and Wrekin Council's housing firm sees profits rise by 18%
A council-owned housing company has seen its profits rise by 18% in the last profits allowed Labour-run Telford and Wrekin Council to put an extra £302,000 into its budget, a meeting was Nuplace was formed in 2015 the council has built 608 homes, with a further 276 planned or in councillor Rachael Tyrrell said she was supportive of the provision of homes, but added: "The rental yield is well below par." She pointed out the council had spent £93m on the company over the last 10 Overton, the Labour councillor responsible for housing, said creating Nuplace in 2015 had been a "bold decision".It was done, he said, to "try to improve the private rented market and offer a good quality tenure," but it had also provided a dividend for the council, its sole councillor Nathan England said the council also benefited from more people living in local homes and paying council tax. This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram.
BBC News
04-03-2025
- Business
- BBC News
'Huge interest' in Telford town centre eco-homes, council boss says
Work to build almost 200 new eco-homes in Telford, as part of a wider regeneration of the area, has attracted "huge interest from local people", a council leader has said.A six storey apartment block and 103 new town houses and maisonettes are being built between Telford's train station and the town and Wrekin Council leader Lee Carter said the the first phase of the Station Quarter development was on track to be completed by summer than half of the homes will be owned by the council's lettings company, Nuplace. Plans for Station Quarter were approved in 2023 and construction on the digital learning centre The Quad began later in the five-storey building was completed in September and will welcome students from Harper Adams University and Telford College this council has invested £66.5m in to the Station Quarter project, while a further £36.6m of funding has come from central government."We'll generate income from some of the business units here," said Carter."Aside from that, we'll be giving people educational opportunities, which will give them better skills and access to good jobs."It means those young people can learn in Telford, get a job in Telford and live in Telford and contribute to the economy, which will benefit us all," he added. The council said that sustainability was at the heart of its Station Quarter homes will be fully electric with no gas, and heating will be provided by a mixture of electric panel heaters and storage heaters."The state-of-the art apartment block is our first living accommodation to be built and it's already causing huge interest from local people," said Carter."People predominantly over the age of 55 want to live there and that will be completed soon."The council has said 117 properties, including all of the apartments in the block and 33 of the town houses and maisonettes will be owned and managed by Nuplace, which both builds and manages the homes they rent. An iconic red footbridge linking the train station with the shopping centre was demolished last year so the area around Station Quarter could be 48m bridge crossed over Lawn Central, which has been closed to traffic ever since.A new pedestrian crossing has been installed and ramps and steps have been built on the bank alongside the shopping centre by council hopes to have the road reopened on 21 March. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram.
