Towards the end of December redevelopment of the Equipment Works site in Walthamstow, Waltham Forest took a big step forward. Developer Telford Homes PLC acquired the 3.16 acre site for £33.9 million and plan to go ahead with the planned development. There is already planning permission in place to convert the existing warehouses into 257 homes at market price, 80 affordable homes, and new commercial space.
One of the most interesting aspects of this news is that the developer will consider the potential for some of the homes to be offered for sale at market price to instead be build to rent. If they do make this change it would increase the number of accessible homes that are created. A detailed exploration of this option will be done in the coming months.
The site is a key one in Walthamstow because demand for homes in the area is so high. The wider Waltham Forest Borough has become very popular over the last few years because it offers more affordable housing options. These lower prices mean more people are moving here and is encouraging more investors to make purchases.
The new homes could prove to be very popular because of the ideal location. Blackhorse Road is within easy walking distance and offers Tube services on the Victoria Line as well as Overground trains. This means commuting to the city centre is very easy. In addition there are great natural attraction on offer including Walthamstow Reservoirs and Lee Valley.
Ground is expected to be broken on the Equipment Works site in the autumn of 2018. The redevelopment should take around three years, meaning completion is anticipated for late in 2021.
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