Working with its partners, the Hyde Group is set to deliver a potential £2.2bn benefit to the UK economy as a result of its ambitious house building programme.
The group is committed to building 6,000 homes over the next four years supporting the Government’s drive to build new homes and helping to ease the housing shortage. This investment will include the creation of 1,300 new jobs and 700 apprenticeships in the construction and related industries.
According to an Economic and Social Impact Report produced by Marshall Regen on behalf of Hyde, the five year development programme will also deliver:
- £61 million estimated investment in community infrastructure including new community facilities, schools and public open spaces.
- £275 million worth of subsidy to provide discounted rented and home ownership options for people in housing need.
- £9 million estimated annual investment in jobs for young people through the creation of apprenticeships.
- £5 million estimated annual investment in routes into employment.
- £3.3 million estimated annual investment to secure progression into employment for 260 trainees.
Hyde recognises the need to support the Government’s vision to build more homes for local communities and in supporting future economic growth. The development programme will not only boost national and local economies but it will also provide local government with over £116 million of investment in the form of Council Tax and community infrastructure investment. At a time when central government funding is being cut year on year, this investment will also help to sustain vital local services for Hyde’s residents and communities.
At Hyde we are committed to building new homes to help tackle the acute housing shortage in London and the South East. We have pledged to build 6,100 homes over the next five years. This investment does not just provide people with much-needed new homes, it also has the power to help stimulate the economy whilst reducing the number of unemployed.David Gannicott, Hyde’s Group Business Development Director