Development roundup – affordable housing and ambitious tie-ups

14 June 2021 | Investment

Vistry says residents will enjoy retail offerings on the ground floor of Gallions Place, with space for café culture, green space, formal and informal children’s play areas.

Jai Gill, associate sales director at Vistry Ventures, comments: “We’re really proud of Gallions Place, and we’re excited to be launching the first phase, Galyon Point. The area is rapidly transforming, and over the last few years despite the pandemic, the area has become a vibrant new community abuzz with creativity and an entrepreneurial flair. And we are just at the start of the journey.”

“Our homes are set to complete next summer which will add to the dynamism of the area as we welcome new residents.”

Once the largest enclosed dock in the world, the Royal Docks area is undergoing a huge transformation with the unlocking of 12 miles of waterside living and £8 billion worth of investment.

The area sits within London’s only Enterprise Zone, which is facilitating the creation of 35,000 new jobs locally. ONS data reveals that the area has enjoyed 97% house price growth over the last decade.

Each apartment will come with fully integrated ‘A-grade’ appliances, with white or pearl grey gloss kitchens and Silestone worktops. Soft oak wood effect flooring lines the halls, living areas and kitchens, with neutral carpet to the bedrooms and stylish Porcelanosa floor tiles in the bathroom. There is also a 12-hour concierge service, bicycle storage and car parking available at separate negotiation. 

The eight-storey Galyon Point development is brick-clad, with terraces to some apartments, along with oak-style floor to ceiling windows absorbing natural light.

Located in Zone 3, Galyon Point is moments from Gallions Reach DLR station which has ‘superb’ links into Canary Wharf and beyond. Just a few stops from Custom House, residents will also enjoy Crossrail links connecting Royal Docks with Heathrow, Central London, Stratford International and beyond.

Development to offer over 800 new homes in south London

National developer Barratt London has launched Springfield Place; a new development in Tooting Bec, Wandsworth, which is part of the new Springfield Village community.

The community will include a new residential village of 839 homes in total complete with an on-site café, retail space, public square, the provision of land for a new primary school, newly restored listed buildings, affordable housing, as well as 32 acres of public parkland.

This parkland is the ‘first of its kind’ since the 2012 London Olympics and will help respond to the community’s needs following the pandemic.

Homebuyers will have a collection of nearly 300 homes and a diverse range of property types to choose from by Barratt London, with prices starting from £470,000. Help to Buy is available within Barratt London’s first release of homes, which includes one and two-bedroom apartments overlooking landscaped gardens.

Future releases of properties will include three-bedroom apartments and two and three-bedroom houses set back on ‘attractive’ mews streets. All of the properties being built here will include a range of design features chosen to ‘complement the wider Springfield Village and its historic past’.

Pam Reardon, sales and marketing director for Barratt East London says the scheme had a distinct vision from the start. “We wanted any new building here to be designed sensitively to the local vernacular, whilst giving homebuyers the best quality living space and views.”

“The contrast of modern and period architecture will certainly redefine this part of Wandsworth’s skyline, mediating between the scale of the new development and the existing Edwardian urban grain. Together with City & Country, we will be creating an exciting new hub for southwest London.”

The development is set in Zone 3, just a stone’s throw from Tooting Bec Underground, Wandsworth Common and Earlsfield National Rail stations. The regeneration of the area includes a proposed Crossrail route stopping at either Tooting Broadway or Balham.

The masterplan of the site has been developed by South West London and St George’s Mental Health NHS Trust (SWLSTG) and includes the development of modern mental health facilities.

Reardon continues, “The extensive community healthcare being provided here with world-class facilities is something for the area to feel very proud about. Barratt London is honoured to be part of such an important project.”

Prices are expected to start from £470,000 for a one-bedroom apartment in the first release of one and two-bedroom apartments at Bluebell House.

Knight Frank launches £50m development opportunity in Worthing

Knight Frank’s Residential Development Land team has been instructed to dispose of Union Place in Worthing, West Sussex, on behalf of Worthing Borough Council (WBC) and developer and regeneration expert LCR.

Once complete, the residential-led development opportunity will have a gross development value (GDV) of £50 million.

Union Place comprises three parcels of land which together have outline planning consent to deliver 169 one and two-bedroom apartments, as well as a hotel and cinema extension over two phases. The scheme will also feature flexible commercial and cultural space.

The masterplan for the site was led by LCR, working in partnership with WBC. The plans, approved in November, are expected to help ‘accelerate the regeneration of Worthing town centre, and ‘breathe new life into a key site that has sat unused for more than a decade’.

Occupying a prime central location close to the coast, the site benefits from ‘excellent’ transport links and strong local amenities.

Worthing is surrounded by the South Downs National Park and open green space, with access to a number of outdoor activities, including cycling, walking and water sports with the town’s popular seafront a five-minute walk away.

The neighbouring towns of Chichester and Brighton are also within close proximity, as are the beautiful beaches of England’s South Coast. London is easily accessible via car or train, while the major international airports of Gatwick and Southampton are also within easy reach, located just 40 and 75 minutes away by car respectively.

Tim Traynor, associate in the Residential Development Land team at Knight Frank, comments: “In the wake of Covid-19, Knight Frank has seen a marked increase in demand for properties outside of London that are close to green and blue open spaces.”

“This, coupled with the strong local demographics, suggests that, once built, Union Place will be in high demand by potential purchasers. This makes Union Place an exceptional opportunity for investment and development, and as a result we are anticipating strong interest.”

Ray Willis, regional director for London & South at LCR, adds: “After plans to regenerate Worthing’s Union Place were approved in November, we’ve now reached another crucial project milestone as we prepare to bring the site to market.”

“By partnering with Knight Frank, we can leverage its network and expertise to bring the right developer on board, and move one step closer to making our vision a reality, unlocking new homes, commercial space and social value for the community.”

Ambitious partnership to deliver 200 new homes in Oxfordshire

Places for People and Ridgepoint Homes have entered their second site partnership following the success of Eskdale Road in Aylesbury.

The Chalgrove site, which has been acquired by Places for People, will deliver 200 affordable homes and will be constructed by delivery partner Ridgepoint Homes.

The site had existing outline planning consent and Ridgepoint Homes obtained reserved matters approval from the council on 26 May 2021. The scheme is expected to help the local authority to meet their need for new high-quality affordable housing in the district and forms part of Chalgrove’s neighbourhood plan housing allocation.

Scott Black, developments executive director at Places for People, comments: “Places for People is delighted to continue its partnering relationship with Ridgepoint Homes on what should be a successful and attractive development.”

“This acquisition and delivery of this development in Chalgrove forms an integral part of Places for People’s strategy to deliver high quality affordable homes which provide choice and meet people’s needs. Working alongside partners such as Ridgepoint Homes allows us to combine expertise and supports our aim of creating well designed, sustainable mixed-tenure communities.”

Nick McEntyre, managing director at Ridgepoint Homes, adds: “Ridgepoint Homes is delighted to be working with Places for People on another exciting project. The relationship forms a very important part of our business and we very much enjoy working with the Places for People team.”

The acquisition unlocks the 19.7ha site, located off Marley Lane in Chalgrove. The development provides a good mix of high-quality homes comprising a collection of 12 one-bedroom apartments; two, three and four-bedroom house types including terraced, semi-detached and detached properties.

Residents will also benefit from a scout hut, which will be delivered as part of the scheme, as well as play areas and direct access to riverside meadows alongside Chalgrove Brook, which will support and enhance ecology and provide opportunities for recreation and leisure.

Places for People and Ridgepoint Homes will commence works on site in autumn 2021.

This post has originally been featured in Property Investor Today.