Havering Council recently revealed they had chosen a preferred bidder to help with their plan to regenerate the housing stock in the Borough. The project is large, including 12 different estates across the area. Over the next 12 years they will be regenerated, creating new, higher quality homes.
The name of the developer has yet to be revealed though. This will follow after contacts are signed and all legal requirements are completed. It could be finalised sometime in March.
The first stage of the regeneration will involve Waterloo Road Estate, Napier and New Plymouth Houses, and a South Hornchurch sheltered housing scheme. The plan is to redevelop all of the existing blocks, modernising them and increasing the quality.
Further stages in the project will involve estates in Gidea Park, Harold Hill and Cranham amongst others. It is hoped that in total around 3,000 new homes can be created in addition to regenerating the existing ones.
The project is already being described as one of the most ambitious regeneration schemes launched by a local authority in the UK. It could inspire other councils to follow suit and look to refresh their housing stock.
The news is also great for Havering as a whole. It shows that work is ongoing to improve the area and make it more attractive to residents. The impending arrival of Crossrail has also put the location on the housing map.
Investors looking for a location with a huge amount of potential for future price growth and housing demand should consider Havering. As you can see there is a lot going on and the local Council has big ambitions.
If you would like help in considering investment options, Finefair would be happy to help. We are accomplished at this and have also earned our place as the best team for property management Havering has. What this means is we can help you now and going forward too.
To find out more about any of our services please feel free to contact us. We look to build strong relationships with all clients, regardless of the size of the portfolio.