Amid the miasma of complex evidence about viability and the level of affordable housing being submitted to the Public Inquiry, readers might be interested to be reminded of some interesting figures on how the the 1085 residential units would be constructed.
These are a total of 1,010 rather than the planned 1,085 units
27 Studio at an average value of £511,111 per unit
271 one bed at an average value of £627, 694 per unit
473 two bed at an average value of £856,818 per unit
221 three bed at an average value of £1,289, 412 per unit
18 four bed at an average value of £1,690,278 per unit
Who will be buying these? How many will go to overseas buyers?
Discover more from EastSheenMatters
Subscribe to get the latest posts sent to your email.
Indeed, a preponderance of miasma
David
LikeLike
Mr Ward, the GLA witness, quoted from a report that stated 67% of unit sales at the comparable Brentford Project had to date gone to foreign buyers.
https://www.thebrentfordproject.com/?utm_source=google&utm_medium=cpc&utm_campaign=2081709800&utm_content=76376932483&utm_term=brentford+apartments&gad_source=1&gclid=CjwKCAiA9bq6BhAKEiwAH6bqoOxMcDGHYk_ZXLN0UxyrwlnoWxRDf2T9ITSqO6JYORyt6-r5WNADNRoC0JkQAvD_BwE
LikeLike
They seem extraordinarily expensive. It would be a tragedy to have another “dark development” with many flats left empty as property investments. There seems little point in the government pushing for 1.5 million homes if they don’t go to genuine residents.
Did anyone say what the price of affordable properties are?
LikeLike
according to Rightmove the average price of property in Richmond is around £811k so many of these flats are at the top end of the average-price range.
Re Foreign buyers – good question and if it transpires that many flats are sold to said buyers then frankly you an be sure that they will not be buying so they can send their kids to the proposed local, on-site, State school.
LikeLike
Having watched the statements this morning from Sheen residents on viability and affordable housing: if it’s true that the developers are paying a substantial infrastructure levy to LBRUT (an amount of £50million has been mentioned but I don’t know how accurate that is) then perhaps LBRUT could use it to buy some of these properties for social housing. It’s desperately needed and would be a good investment in the Mortlake community. Maybe a bulk discount could be offered by the developers.
LikeLike