Kensington and Chelsea Council announced a multi-million pound deal at the start of June that will bring new homes to the Borough. The agreement sees the purchase of a 1.25 acre site on Wornington Road that was owned by the College. The move will ultimately benefit the community by securing part of the site for educational use, communal facilities and the creation of homes.
The deal has been praised as beneficial to all parties involved. The idea has been in the pipeline for a little while, with the decision to purchase being reached in April. With the completion of the deal the project can now progress to planning. The aim is to create new private homes, including a number of affordable ones. The plans will be discussed with a private rented sector developer.
Kensington and Chelsea College praised the deal as it helps them to achieve their objectives of satisfying the needs of students, employers, and the wider community in the Borough. They will have the right to continue using existing educational buildings on the Wornington Road site for the next few years. On top of this they will be able to use any new spaces that are constructed to replace the existing property. This could give them access to modern facilities without bearing the bill for construction.
When the new properties are built they could offer good opportunities for buyers, renters and investors too. The latter group could even choose to let out their properties with help from the Council in the future if they wish. This could help them to secured guaranteed rent for a period of time, ensuring the properties are inhabited and are earning an income.
At Finefair we work with landlords across the Borough and can help them to guarantee their rent is paid. We have a lot of experience and will find the very best course of action to suit each landlord, whether it is leasing with the Council or private lettings where we offer the guarantees. If you would like support and advice please contact us.