London’s position at the centre of Britain’s economy looks set to stay, as new research suggests that over the half the new homes the UK needs should be located in and around the capital.
The Town and Country Planning Association (TCPA) has said that the UK must build 220,000 homes every year until 2031, with 55% of them required in London and the South East.
TCPA’s Kate Henderson remarks: “The government needs to see this as a wake-up call. It has already fallen behind on targets for housebuilding, and this is now having a devastating effect on young people.”
The national figure is somewhat less than the National Housing Federation's estimate of 245,000 homes required per year, and considerably more than the million homes pledged by 2020 by housing minister Brandon Lewis in September this year.
Chancellor George Osborne has said that 3,000 new homes will be built on the sites of some of London’s Victorian prisons. No date has been set to put the plans into action, but outdated facilities at places such as Pentonville, Wandsworth and Wormwood Scrubs will be replaced by modern jails in more affordable areas and their sites used for much-needed housing.
Meanwhile, Boris Johnson, in his role as Mayor of London, has approved a new planning framework which will provide north-west London with over 25,000 new homes and create up to 65,000 jobs in one of his ‘Opportunity Areas’, Old Oak and Park Royal. A new station in the area will take both High Speed 2 and Crossrail traffic by the middle of the next decade, with the aim of rejuvenating the area’s economy.
“London urgently needs new homes and commercial space to meet its ever growing population and there can be no doubt that the regeneration of Old Oak represents a real opportunity to meet those needs,” says Sir Edward Lister, deputy mayor for planning and chairman of the Old Oak and Park Royal Development Corporation. “This strategy will mean we can plan for the future of this vast site as we work to create a new, thriving and sustainable part of the capital, where people will love to live, work, play and visit.”
Banbury Park in Walthamstow (Centra Living)
Launched in early October, this development will provide 350 new homes on former brownfield land by 2017. The first release is a mix of one-, two-, three- and four-bedroom homes available for Shared Ownership (76 properties) and private sale (174 properties).
Through Shared Ownership, buyers could purchase a 50% share of a one-bedroom home at Banbury Park from as little as £148,500, with one-bedroom homes are available for outright sale from £350,000.
Tim Seward, head of property sales, says: “E17 - or ‘Awesomestow’, as it has been dubbed - is reaping the benefits from significant investment and is rapidly becoming one of the most exciting and sought-after places to live.”
The new development will accommodate a major new retail unit, as well as smaller shops, boutique stores and business premises. It will also have landscaped community spaces, shops, offices, and a public square that will help to continue the regeneration of the area.
Prices: From £148,500 (50% share)
Find out more at www.banburypark.co.uk ; 0845 223 0000
Jigsaw in West Ealing (FABRICA/Rydon)
Following the success of its first phase, the second phase on this joint venture scheme was released this October. Its design has been masterminded by industry icons Conran and Partners, and the development will deliver 90 one-, two- and three-bedroom apartments, maisonettes and houses. It forms part of the £166m masterplan to revive the former Green Man Lane Estate, which will provide 770 homes across 12 acres on completion.
The overall development includes a collection of new parks, landscaped plazas and pedestrian boulevards, designed to foster a vibrant community. A new and improved primary school will also cater to the additional families expected to move to the scheme.
Rosie Nesbitt, group director of sales and marketing at FABRICA, says: “Designed with first-time buyers, second-steppers and families in mind, the mix of property types and array of price points will provide both an aspirational yet accessible new home for many Londoners.”
Crossrail will operate from West Ealing station from 2018, reducing journey times to just 13 minutes into Bond Street and 21 minutes into Liverpool Street.
Prices: From £390,000
Find out more at www.londonjigsaw.co.uk ; 020 8003 0701
Carlton Gate in Putney (Henley Homes)
Carlton Gate, at the junction of Putney Hill and Carlton Drive, is a “re-imagining” of an existing building into 24 modernist apartments and three penthouses, within a striking Art Deco-style exterior. It sits in landscaped grounds and is perfectly located for access to London’s work and leisure opportunities.
There are excellent links into the centre of London and a great local lifestyle. Within a mile of your new home here, you will find the 400-acre green space of Putney Heath, with views across London, as well as the thriving bars, cafes and boutiques of Putney High Street, the Upper and Lower Richmond Roads and, just over the bridge, Fulham.
Find out more at carltongatesw15.co.uk ; 020 8222 7200 (Kinleigh Folkard & Hayward)
Newlands in Hendon (Linea Homes)
A small, boutique development of six individually designed apartments, Newlands is set in a quiet, leafy and desirable part of Hendon. With two- and three-bedroom apartments available, a choice of layouts, communal gardens and a private outside space to every home, the apartments at Newlands are not only spacious, they’re also finished to a high standard with the Linea Homes signature high-quality finish.
The interior specification includes designer kitchens by Poggenpohl with integrated Miele appliances, hotel-style bathrooms with Italian porcelain tiles and top-of-the-range Hansgrohe fittings, hardwood wide plank oak floors and slimline metal sockets and switches.
A great spot for commuters, the M1 and Northern Circular junction is just six minutes by car and Hendon Central rail station gets into The City and West End in just 25 minutes.
Find out more at www.lineahomes.co.uk ; 020 7148 2222
From its impressive lobby and reception area, residents will find a range of apartments and penthouses which benefit from natural light from the floor-to-ceiling windows, zonal underfloor heating, video entry phone, multi-media cabling, a fitted kitchen with built in appliances, luxurious bathrooms and en suite facilities with recess feature mirrors and stylish wash basin and vanity units. Bedrooms are fully carpeted with the master bedroom benefiting from eye-catching Italian chic mirrored wardrobes and an en suite.
Each has either a terrace or balcony from which to enjoy the wide-open views and there is also an opportunity to purchase your own space in the secure, gated underground car park.
Island is a 20-storey tower set in a prime position within a short walk of Croydon's town centre, which has been undergoing a major regeneration and within walking distance of both East and West Croydon stations, Tramlink and the bus station.
Prices: From £414,000
Find out more on WhatHouse? ; 020 8680 0283
Langdale House in Roehampton (Richstone Properties)
Launching this month, Langdale House offers exceptional living next to Richmond Park. Despite being one of the less well-known south-west London districts, Roehampton is fast becoming a popular choice, particularly with families, as the area has excellent local schools, top leisure facilities and numerous open spaces.
The property itself has been lavished with an exceptional specification, as you might expect at this price point. From the stunning Belgian blue stone entrance portico, to the lower ground floor entertainment suite with adjoining outdoor terrace, every detail has been considered. There is a combined kitchen/dining/family room of over 1,000 sq ft, two further reception rooms, a self-contained studio flat, palatial master suite with two dressing rooms and en suite, and the essential temperature-controlled wine cellar.
Price: OIEO £7.95million
Find out more at www.richstone.co.uk ; 020 8878 5333
Stratosphere in Stratford (Telford Homes)
With over 90% of apartments in the first phase selling within the first six weeks, there is expected to be high levels of interest for the latest collection of apartments in this new second phase, launched to the market recently.
Stratosphere is a landmark 36-storey residential tower offering residents spectacular views towards The City of London and Canary Wharf, over the Queen Elizabeth Olympic Park and Westfield Stratford City.
The specification includes kitchens from London designer Urban Myth, with stone worktops and integrated Smeg appliances, bespoke cabinetry in the bathrooms and premium wood-strip laminate throughout the kitchen, living room and hallway. All homes will also benefit from underfloor heating.
Residents can enjoy and utilise the 24-hour concierge service located within a sleek and stylish ground floor reception as well as a private residents’ gymnasium, residents wi-fi lounge and terrace, all of which are located on the roof-top at the pinnacle of the tower.
Prices: From £595,000
Find out more at www.telfordhomes.plc.uk ; 020 3538 9273
Merchants Walk in Bow (Peabody)
Following the recent release of the first phase of 128 private sale homes, this development in E3 has proved to be extremely popular, with over 70% of the new homes already under offer.
Situated between Canary Wharf and the Olympic Village, Merchants Walk is a collection of studio, one-, two- and three-bedroom apartments. Part of the London Borough of Tower Hamlets, Merchants Walk is positioned within the Olympic regeneration zone, which has undergone and continues to experience large-scale rejuvenation. This on-going growth of the area shows the exciting investment potential for buyers.
Buyers can expect light and airy open-plan living, with many apartments having access to a balcony or private open space. Integrated Bosch appliances come as standard, along with Silestone worktops, engineered oak flooring, Porcelanosa bathroom tiling and brushed chrome electrical fittings throughout. This development also offers cycle storage as well as secure car parking and car club spaces.
Prices: From £305,000 (for a studio)
Find out more at www.merchantswalk.co.uk ; 020 3369 8670
Hunt’s Paper Factory in Fulham (Haus Properties/Marsh & Parsons)
This development of 34 warehouse-style one- and two-bedroom apartments on the site of a former paper factory in chic Fulham launched on 14 November. The apartments, designed by developer Verve Properties, are set over three storeys and situated around beautifully landscaped courtyards.
They range in size from 576 to 1,075 sq ft. with elements of the original building incorporated throughout the design. Each apartment comes with features such as exposed brick walls and wooden beams as reminders of the paper factory’s history, which dates back to the late 1800s.
Jamie Lester, head of Haus Properties, says: “Fulham has historically been seen as quite a traditional area, particularly attracting families, but we are now seeing a lot of new designs which are more akin to East London style, and Hunt’s Paper Factory is a brilliant example of that. The design is very cool and contemporary, so is likely to attract young professionals and first-time buyers who are keen on Fulham as a location, but looking for a slice of East London ‘edginess’”.
Prices: From £575,000
Find out more at www.huntspaperfactory.com ; 020 7871 4242 (Haus Properties) / 020 7368 4830 (Marsh & Marsons)
100 Putney Common in Putney (Featherstone Leigh)
This is a brand new development of 24 exceptional one-, two- and three-bedroom apartments, from Durkan, overlooking acres of beautiful open common land. Each apartment will come with its own private terrace or balcony, energy-efficient underfloor heating, sleek fitted kitchens, complete with stylish stone work surfaces, and Kartell by Laufen sanitaryware in all bathrooms.
Philip Tibble, associate director at Featherstone Leigh East Sheen comments, “Putney is an extremely popular location with a wide range of buyers, including families, couples, first time buyers, downsizers and investors. The stunning open spaces in this area of south-west London are a real draw for buyers, and this development offers a once in a lifetime opportunity for buyers to purchase a brand new apartment set in the idyllic Lower Putney Common, which also leads onto the beautiful open park land, Barnes Common.”
Find out more at 020 8876 4567