Regeneration in Brixton

The Housing Finance Corporation (THFC) was delighted to visit Stockwell Park in Brixton, a vibrant regeneration site in the heart of the London Borough of Lambeth, in May earlier this year. Stockwell Park is owned and managed by Sovereign Network Group (SNG), a customer of THFC.

Danielle Hughes, THFC’s Sustainability and Treasury Manager, attended the final day of a two-week sustainability initiative which brought SNG residents and employees together to partake in local “green” projects, activities, and educational events throughout the second half of May 2024. The two-week programme culminated with a walking tour of the estate and a visit to the site’s historic pond, which is not only loved by residents but also a classified as a Site of Importance for Nature Conservation (SINC).

SNG is one of the UK’s leading housing associations, with more than 84,000 homes and 210,000 customers across the south of England, including London. The organisation was formed through the merging of Sovereign and Network Homes in 2023 and aims to develop 25,000 new affordable homes over the next 10 years, in addition to consistently improving the quality of its existing stock.

THFC lent £154m to SNG over a number of years between 1987 and 2013 and an additional £231m through Affordable Housing Finance (AHF) between 2014 and 2016.

History of Stockwell Park Regeneration

Tim Goodwin, Regeneration Manager at SNG, provided a fascinating walking tour of the estate, which was joined by THFC, SNG employees, contractors, and residents. Tim discussed the history of the estate, as well as the regeneration work taking place.

The Stockwell Park estate was developed in the early 1970s by the London Borough of Lambeth. It was eventually transferred to what was then Network Homes in 2007, with the agreement that the housing association would undertake extensive refurbishments, rebuilding works, and environmental improvements. These works were jointly funded through a 30-year plan which included a grant from the Borough of Lambeth upon transfer, the outright sale of new units and void street properties, rental income, and support from Community Trust Housing, another cornerstone local housing association.

The ongoing investment has breathed new life into the area, with its pristine roads, artistic street furniture, and thriving community centre representative of the community spirit of Stockwell and its residents.

Stockwell Park’s regeneration programme has done a brilliant job of preserving the community’s traditions, whilst refreshing its infrastructure and improving livelihoods. A decades-old wall of urban art serves as a hub for creativity to this day, and unique spiralled entryways have been kept intact, with residents adding personal modern touches to their entryways.

Sustainability has been at the heart of Stockwell Park’s regeneration story. 800 rooftop solar panels have been installed alongside a state-of-the-art energy centre, providing zero-carbon energy for 270 homes. EV chargers have also been placed throughout the development, as well as modern recycling bins and an array of hedge growth, wildflowers, and other vegetation.

The addition of several bike stores has been proposed to encourage sustainable travel, and the planting of new trees with artistic, resident-designed tree grids is also in the pipeline. Stockwell Park has also implemented a popular Zipcar rental system, which allows residents access to a car when needed without the costs or environmental consequences of owning one.

The Pond at Stockwell Park

The highlight of the Stockwell Park tour was the visit to the beloved carp pond, which is located at the centre of the estate and classified as a SINC. The event was joined by special guest Dr Iain Boulton, Environmental Compliance Officer and local biodiversity expert, who offered his insights into the ecological happenings of the pond.

The pond is home to a shoal – or group – of carp, a common name for several species of freshwater fish originating from China. Helpful for keeping the pond’s algae under control, the fish feed on grass at the pond’s floor, snails, and insects. Carp are tough and hardy fish, characteristics which Dr Iain remarked as being essential for any species inhabiting the UK’s capital city.

Surrounding the pond are a smattering of tall, leafy lime trees which support an abundance of insects. These bugs provide an excellent food source for local birds and bats, the latter of which is a particularly exciting talking point among the more nature-enthused residents. Urban foxes, earthworms, frogs, and the odd duck are also notable visitors to the pond.

By looking after this beautiful and ecologically important site, SNG is fostering local biodiversity and encouraging residents to engage with nature. The pond at Stockwell Park is a cherished focal point in the community, providing invaluable social and environmental impact in the local area.