Homes England, Barking Riverside Limited

  • The proposed subsidy is a grant to Barking Riverside Limited, who has been appointed in the master development role for “Barking Riverside” development project. The subsidy will cover costs relating to core services, key landscaping works, and foreshore work to boost flood defence strategy. The value of the subsidy is £30 million.
  • Our key takeaways from the Subsidy Advice Unit (SAU) report are:
    • Ensure that you capture where alternative measures have been considered and why they have not been used (examples include the use of a competitive procurement exercise or Homes England itself being appointed as master developer).
    • When demonstrating a viability gap or market failure, ensure you provide clear evidence which supports this.
  • Ensure the impact in competition is accurately considered, included related markets – in this case the market of master developers could have been considered more widely (geographically) and the related markets of developers and infrastructure owners.

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Posted in Subsidy Advice Report Tracker.