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Pocket Living has been able to secure a resolution to gain planning permission from Hackney Council. This is for a new residential development on Mandeville Street. It represents Pocket’s third scheme in the borough. The new seven storey development is going to make use of an available parcel of land. It was formerly in use by the health care sector. The project shall provide much-needed housing for local people.
Overwhelming local support
The application got an unbelievable level of local support. More than 50 letters were submitted that stressed its advantages to the community. During the Committee, one Mossbourne Community Academy teacher spoke passionately to give support to the proposals. They spoke of the potential for pricing neighbouring key workers into home ownership.
This scheme consists of 46 new houses for sale. It includes 43 one bed pocket discounted affordable houses. In addition, there is going to be three two bedroom, three person market sale houses. This makes the scheme 91% affordable housing by habitable room.
The great thing about the Mandeville Street Development is the affordable homes will be sold at a 20% discount to the surrounding market sale houses. They are particularly for first time purchasers who work or live in Hackney. These are also for people who earn under the Mayor of London’s affordable housing income threshold.
Assistance for young earners
Forming a partnership with the GLA, Pocket Living wants to aid young middle earning Londoners with owning a house. They intend to do this by changing the Brownfield sites into affordable, award winning developments.
The standard brick structure at Mandeville Street shall have seven floors, along with a set-back eighth floor. The bricks were chose so they are in keeping with the surrounding context of Kirkstead Court and Wharfedale Court.
Something else the scheme is going to offer is a generous secure cycle store. It will have space for 62 bikes as well as a huge roof garden for the locals to enjoy. In addition, there is going to be a 103sq/m community/commercial area at the ground floor. The development makes use of Air Source Heat Pumps too. These absorb heat from outside air to provide hot water and heat the houses.
Understanding the investment properties in Hackney
At Finefair Ltd, we have an impressive understanding of London’s market and its individual boroughs. When you make us your partner, you can gain the greatest advantages. This includes guaranteed rent and a simple, all in one management service.
So, if you are looking in to the investment properties Hackney has, make sure you get in touch with us. We would love to help you achieve your goals.