Housing Association Affinity Sutton has awarded Willmott Dixon a £48 million repairs and maintenance contract.
The five year contract could be extended up to 20 years making it worth as much as £190m.
Under the innovative deal, Affinity Sutton is using a wholly owned subsidiary model.
Ian Morrison, Head of Property Services for Affinity Sutton, said: “Affinity Sutton has always been at the forefront of developing repairs partnerships and we are delighted to appoint Wilmott Dixon as our new repairs and maintenance contractor in this groundbreaking deal.”
Willmott Dixon Partnerships Managing Director, Mick Williamson, said: “We are delighted to be joining forces with Affinity Sutton to deliver significant cost savings alongside excellent service.
“We have a strong ethos of giving back to the community and will be offering training programmes and energy-saving initiatives to Affinity Sutton residents. We will also be providing employment opportunities via our Opening Doors work placement programme in conjunction with local schools.”
Last year, Willmott Dixon secured nearly £200 of new repairs and maintenance work, winning contracts with Home Group,Notting Hill Housing Trust and Guinness South.