In January work on the biggest council house development in the UK began in Wandsworth, London. The £150million project will create 1,000 homes, 60.5% of which are intended to be made available at discounted rates. These houses will be perfect for people who live and work in the Borough.
The first phase of the project involves two roads in the Borough; Deeley Road and Stewart’s Road, both in Battersea. The work will create an initial 42 homes. During the construction the local council will be looking at other sites across the area that can be developed. All of the land used is owned by the council, overcoming barriers to development.
The project has the backing of local councillors who want to see the next generations of families being able to find homes in the area. With high prices in the private market many people are forced to move away to find an affordable home and to save so they can get on the property market in the future. These new homes will provide necessary housing at lower rates.
Many of the properties will be available with the big discounts on market rates. They will remain under the control of the local council. Others homes are intended for shared ownership, making it cheaper for people to get on the property ladder. The first new homes will be available in the summer of 2018.
Improvements in the local infrastructure are taking place simultaneously. This will see roads, pavements, and open space all being improved. Ultimately this will make the whole area a more pleasant place to live and work.
Investments like this can inspire private investors to look at an area and see what opportunities are available. Wandsworth is a Borough that is changing rapidly and has a very bright future. It is a location worth considering if you are looking to invest.
At Finefair we can help investors for the short and long term. We can work with them to find properties and also offer the very best property management Wandsworth has to offer. Our team is flexible and adjusts to suit various needs. That means we are always focused on achieving the best results.
If you would like to find out more, we are just a call away. You can ask questions about our services, experience, or the area itself.