Camden has a fantastic history of creating high quality social housing. In the 60s and 70s the council built low rise council estates such as the beautiful Brunswick Centre. The properties were praised for their architecture and many of them are listed today or located in conservation areas to preserve them.
The Council is now leading the way once again in this area. Their new Community Investment Programme will see them sell land and replace older, discredited estates. These sites will then become home to new showpiece homes.
The difference between the current and past plan is that a number of the properties being built will be for private sale. The profits from these sales will be reinvested to improve communities. It is hoped that the project could lead to the creation of some 3,000 homes as well as improving public and green space, building new schools, and offering more commercial and community space.
If successful the sales and redevelopments could unlock £1 billion in funds to be invested. This would be a great boon for the area, particularly with the popularity of Camden remaining very strong and prices on the rise.
There are incredible projects all across Camden, many of them bringing new life to older structures. Some of these are listed so the work is being done with great care to preserve them whilst they are regenerated.
Many other London Borough Councils will be watching the progress of the Community Investment Programme to see if it is successful. Each of them is looking for ways they can unlock funding and create new homes. Camden’s plan could be replicated in other areas if it is a success.
The private homes being created could become really good investment opportunities, particularly those being created in iconic buildings and great locations. At Finefair we will be on hand to help investors looking to purchase them with an eye on making the homes available on the rental market. We have plenty of options available in this area, including council leasing in Camden.
If you would like to find out more about leasing properties with the local council please contact us.