At the end of April it was revealed that Clarion Housing Group, the largest of its type in the UK, would invest a huge £1 billion into the regeneration of the London Borough of Merton. The funds will pay for the development of the Eastfields, Ravensbury, and High Path estates, creating new homes and improving the areas.
The work will see the creation of 2,800 homes. Of these 1,800 will be new, targeted for sale and rental. The other 1,000 will replace existing properties because they are reaching the end of their lifecycle and need to be updated.
The decision to regenerate the three housing estates was made after completion of an independent residents’ survey. It found that the standard of homes and the level of overcrowding were unacceptable.
A submission has been made for planning permission for the three estates. If granted it could result in demolition beginning late in 2017 during phase one. Following phases, including new construction, would take place in 2018 and onwards.
Work is already underway at Ravensbury and High Path. An unused garage site on the former is being converted to create 21 new homes. A site not currently used for housing on the latter estate is being regenerated to create 134 homes.
Clarion is committed to delivering high quality homes and also using the regeneration work as the chance to offer training and employment opportunities for young people across Merton Borough. This would see the project provide an even bigger benefit to the area.
At Finefair we provide property management in Merton alongside a myriad of other services. We love seeing regeneration work taking place because it can improve standards of housing in the area and make it a more popular place to live. This can provide big benefits for investors and landlords alike.
If you have any questions for us about our services please get in touch. We can tailor our property management to suit any needs and deliver the best value.