News

4Aug2021
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We're looking for partners for £65m property investment projects

Today we've announced major tender opportunities as part of our upcoming major multi-million-pound investment into our existing housing stock.

We're looking for partners to support the delivery of investment work to our housing portfolio across three major schemes.

Three opportunities are available as part of a £32 million-pound internal modernisation scheme that will see kitchens, bathrooms and communal mechanical and electrical installations upgraded as well as electrical re-wiring and new sprinkler installation.

The work will be delivered across four financial years starting in April 2022 and ending in April 2026 and will be split into three lots including two domestic lots and one high rise tower block lot. The domestic lots will be determined by geography and will include identical work that will be split depending on location with Sunderland.

At the forefront of our ongoing investment is a city-wide roof replacement scheme, with a £16m contract available for a partner to complete the replacements and all other associated work across a four-year period, starting April 2022.

In Pennywell, we're looking for a partner to complete a significant external regeneration scheme to help transform the appearance of the estate by completing roofing, window and boundary replacements. This is due to commence in Summer 2022 for two years and is a £19 million-pound investment within the Pennywell estate.

Diane Carney, Director of Property at Gentoo Group, said: “This is a very exciting time at Gentoo. Our plans to invest in our stock will benefit thousands of tenants across the city and is a major step in modernising our properties and the environments of our neighbourhoods.

“We are looking for partners who share our ambition to improve our neighbourhoods and who are committed to putting our tenants at the heart of the work by delivering high quality services whilst remaining consistent, reliable and efficient.

“If you are interested in these exciting opportunities to lead major investment schemes in Sunderland, please don’t hesitate to get in touch with us.”

These projects form part of our major £183.5 million investment into its existing properties between 2021 and 2026.

If you’d like further information on these opportunities, please contact Marc Edwards, Head of Asset Management and Investment, on 0191 525 5360 or via email Marc.Edwards@gentoogroup.com.