The Future is Here
Let 1000 Homes Bloom
The UK Government has targeted 30,000 affordable homes by 2020. There is an urgent demand that these homes are not only affordable but sustainable with a low impact on the environment and energy efficient.
Western Solar Ltd has spent £2m researching and developing a sustainable timber building system that is 100% British, relying heavily on local supply chains, labour, materials and powered by Solar energy. It has established an eco factory, built a full prototype solar home and is now completing the first solar village of six homes due for occupation this summer.
The homes can be built at average traditional build costs of £1100/sqm but offer a whole lot more in terms of energy efficiency (A Rating 105) and environmental impact (A 104). 12,000 KwH of annual energy production make the homes net contributors to the grid. 11” of insulation together with Passiv house standard windows and design mean each house consumes around 12% of the energy of a traditional home.
This is a revolutionary concept in UK building methods relying more on manufactured components than on site construction. It will disrupt the existing industry of bricks, mortar, concrete and steel and will increasingly occupy an important space in affordable house provision.
We plan to leverage our investment in a joint venture to create 1000 homes across the UK. The preferred partner will be a company that can share our vision and brings low cost finance and affordable land such as distressed acreage previously not thought suitable for domestic construction.
The JV will produce a 5% return recovered through a rental property portfolio of at least £150m establish over a five years. This will only interest a company that is committed to a long-term play of 25 years minimum. There will clearly be a significant amount of reputational value with XYZ Solar Homes and the opportunity to grow a much more substantial business in the long term.
Western Solar’s eco hamlet in Glanrhyd is a groundbreaking and innovative venture which demonstrates how the use of renewable energy can help tackle our national problem of a lack of affordable housing. I was hugely impressed with the scale of the viewion and the way local skills are being deployed and developed through the project. The enthusiasm and expertise of the whole Western Solar team comes across very strongly. They are pioneering a way of designing and building homes which will become ever more important in the years ahead.Secretary of State for Wales