While the rest of the house building industry waits to assess the financial impact of Brexit, Pocket Living, London’s progressive property developer, today announces it will be bringing 429 homes to market across the city in 2019. The new discounted homes, exclusively for first time buyers in London, will make a much-needed contribution to the deepening housing crisis.
Market uncertainty caused by Brexit has resulted in a fall in the number of new homes being built across the capital, which has a direct impact on Londoners working towards owning a home. The new homes from Pocket Living will all be discounted by at least 20% against the open market and owned 100% by their first-time buyers, with the aim of helping middle-earning Londoners achieve their dream of getting a foot on the housing ladder.
Because Pocket homes are built to live in, not let out, purchasers must be first-time buyers, live or work in the local borough and earn under the Mayor of London’s affordable housing cap (currently £90,000).
Lucian Smithers, Sales & Marketing Director at Pocket Living, says: “Developers need to invest in homes for young Londoners, whatever the political situation. So many people who contribute so much to our city are stuck in house shares and feel like they have no way out. That’s why we’ve pushed forward with over 400 discounted homes exclusively for Londoners who desperately want to build their lives in London.”
Each carefully designed Pocket home is finished to a high specification and makes the most of the space with an open-plan kitchen-living room, separate generously-sized double bedroom and wet room. Clever storage solutions are integrated throughout and the full height windows in every apartment are built to maximise daylight and city views. Impressive indoor and outdoor communal spaces create communities of like-minded people within each Pocket development.
Pocket Living schemes launching in 2019 are:
Bollo Lane W4: Ready to move into in Summer 2019, Bollo Lane W4 offers 84 one-bedroom Pocket homes from £297,000. The 13-storey building’s two stunning landscaped roof terraces offer outdoor dining spaces to enjoy with neighbours or friends, and uninterrupted, panoramic views stretching as far as Waterloo and Canary Wharf. Located in Ealing, just a stone’s throw from Chiswick Business Park, excellent transport links mean Central London can be accessed by train or tube in just 30 minutes.
Varcoe Road SE16: A fifteen-minute walk from trendy Bermondsey, the scheme is seven storeys high, with the sixth and seventh storeys stepped back to provide landscaped roof terraces with views of the Shard and over the city. Launching in April 2019, these 57 one-bedroom Pocket homes are just a short walk away from South Bermondsey railway station, with its great links into the City and Canary Wharf; offering central London living at an affordable price.
West Green Place N17: In the increasingly popular borough of Haringey, the 98 Pocket homes at West Green Place N17 back onto 12 hectares of parkland. The 3, 4 and 5 storey buildings have been completely designed around the local people and the development features a new community centre and nursery at its heart. Homes are available to purchase from April 2019 ahead of first stage completion in Autumn 2019.
Addiscombe Grove CR0: Launching in Summer 2019, Pocket Living’s largest development to date comprises 112 Pocket homes as well as a residents’ lounge, library, co-working space and three roof terraces including a secret garden. Set in a vibrant area that is home to RISE Gallery and Boxpark, among many other neighbours, this development offers locals the chance to be part of an emerging creative community, less than 15 minutes from London Bridge.
Whiting Avenue, IG11: The 78 Pocket homes in this development will be set within two blocks complete with workshops, cycle storage and landscaped gardens. Available from Summer 2019 Whiting Avenue IG11 is located just a short walk from Barking town centre with excellent transport links to the city and is perfect for any buyers looking to capitalise on the completion of Crossrail at Ilford, as well as providing easy access to London City Airport.