With the lack of land in London more developers are looking at increasing housing density. Towards the end of February Newham Council approved plans by Berkeley Homes that will result in 3,810 new homes. The site is 29 acres, making this one of the densest projects in the capital. It will see 356 homes situated on each 2.5 acres.
An ideal location
The land is a former Parcelforce site. It is in Canning Town, situated within walking distance of Canary Wharf. As a result the homes could prove to be very popular amongst people who work in the area.
The first phase of the project will see the creation of 1,020 homes in towers ranging up to 377 feet in height. The homes will vary in size, suiting the needs of different types of resident. Office and retail space (7,500 sq ft and 58,000 sq feet respectively) will also be created at this stage. In addition, there will be a secondary school with space for up to 1,000 pupils and two new parks.
Further phases will create the additional 2,790 homes. In total 2,500 of the total properties will be for private sale and rent. There will be 850 homes for first time buyers looking for shared ownership. Furthermore, almost 500 flats will be available to people on the council waiting list at subsidised rent levels.
Dense development can be acceptable
Although there may be some concerns about the density of the development, the local council was behind the project. The project may be dense but effort has been put in to create open spaces on the site too. This shows that high density can be acceptable with the correct planning.
At Finefair we support investors all across London. For one we commit to providing the best estate management Newham has to offer. What this means is we can take on the challenges of managing estates and also achieve great standards. Where some teams may struggle with the scale of the job, we excel and deliver savings in the process.
If you would like to discuss properties in Newham with us please get in touch. We will do all we can to find the right service for you.