Housing 21 set to revamp homes for Oldham elderly in £300m PFI

Housing 21 is on the verge of signing a £300m private finance initiative contract to modernise 1500 properties for elderly people.

The Buckinghamshire-based association is the preferred bidder to refurbish Oldham council’s sheltered housing stock.

It is believed to be the first PFI refurbishment deal for sheltered housing and is expected to be signed in six months’ time.

Work will begin in 2005 and, in all, 99 homes will be replaced and 1354 improved.

Changes will include new wiring, doors, windows, kitchen units and bathroom fittings plus upgrades to common rooms and call entry systems.

Bedsits will be replaced or converted to self-contained homes and almost 300 sheltered flats will be given extra-care facilities.

Housing 21 will provide management and warden services under the 30-year contract.

Its partners are Bullock Construction, Cruden Construction and banks Nationwide and Royal Bank of Scotland.

So far, £17m worth of improvements have been completed.

Jean Stretton, Oldham’s cabinet member for housing, said: “We are very pleased to have selected a preferred bidder with a good track record.

“The project will bring a huge amount of investment into the town and major improvements to our sheltered housing.”

Melinda Phillips, chief executive of Housing 21, said: “We’re delighted to have been picked as preferred bidder.

“We look forward to working closely with Oldham council and residents to deliver these improvements.”

The reserve bidder for the deal is Contour Housing Association.