Bexleyheath is a lovely part of South East London. It has everything you would expect of a suburban spot, including green space, good size homes with gardens, and lots of amenities. It could also soon welcome a number of new residents if the Council’s plans advance further. We want to have a closer look here, exploring one of the most interesting proposals for property investment in Bexley.
New homes
Bexley Council has ambitious plans to build 1,200 new homes in the borough. They have their own property developer, BexleyCo Homes. Their aim is to provide more modern, high quality housing for locals, tackling problems with supplies as well as high spending on temporary accommodation. To achieve that goal, they are considering a wide array of different sites and proposals.
One project in particular is set to take a step forward. The Council has given the green light to pay BexleyCo Homes over £1.1m to advance their plans for a development. This site is between Belvedere Road and Church Road. It is currently green space, but has been identified for potential development. The funding will allow key planning and development work to take place, including land surveys. All of this will lead up to hopefully preparing and submitting a planning application in the future.
The proposal
BexleyCo Homes’ plans for the site are really interesting. They want to build 71 new homes on the site, including apartments and houses. The initial proposals are for a mix of 2, 3, and 4 bed properties (50%, 40%, and 10% respectively). There is always high demand for larger family properties, especially houses. So, it is a good idea to consider them if you’re planning property investment in Bexley.
There are several fantastic details about the plans. Crucially, the design would retain a piece of public green space at the heart of the development. Each house would have a private garden as well as a parking space.
The proposals for the site are also considerate of the neighbours. Currently there are homes on Belvedere Road and Church road overlooking the site. As a result, there is a concern about privacy. Luckily, the design would protect this with a garden to garden approach. It means the gardens of existing properties will align with those from the new homes. Ultimately, the design is sensitive to the area.
What next?
As we said, the £1.107m of funding will allow further work leading up to preparing a planning application. If the plan can progress from there, Bexley Council will pay BexleyCo Homes to purchase the land. The current estimate is the bill would be £20.075m (plus VAT). Then it becomes a case of getting planning permission.
Need some help with property investment in Bexley?
South East London is a wonderful area if you are thinking about investing in properties. It has the ideal mix of more affordable homes and land prices plus growing demand. There is plenty of potential for the future, especially attractive locations with a lot to offer like Bexleyheath.
Finefair Ltd is on hand if you need help with properties. We can provide a comprehensive service for any need, including supporting new investors. Most importantly, we specialise in guaranteed rent. It is one of the most reliable ways to guarantee your financial stability. We also provide management solutions, work with HMOs, and more.
So, talk to us today about any aspect of property investment in Bexley or other parts of London. We’ll give you all the support and information we can, setting you up for success.
