There was excellent news for Hackney Council last month when their plans for De Beauvoir Estate got approval. They can now proceed with the project, the first phase of the redevelopment of the estate. The new housing here will be fantastic for people who need affordable homes and investors interested in the area. In fact, the properties that will be available to buy could be some of the most interesting options for property investment in Hackney.
What is the plan?
The first phase of the De Beauvoir estate regeneration will create 189 new homes. These will all be on five infill sites across the area. They include old depots, car parks, and podium garages. The work will bring new life to these underused sites by creating housing as well as new community amenities.
One of the biggest advantages of this plan is it will create the new housing without having to demolish existing homes. As a result, it will be an entirely new boost to the stock rather than replacing current properties.
Of the 189 new homes, 50% will be affordable. That will include 59 for social rent to boost council stock. In addition there will be 36 for shared ownership to give more people the chance to get on the property ladder in the area. The remaining properties will be for sale, and could be great options for property investment in Hackney.
Current council housing tenants living on the estate will have first choice of the new properties. As a result, it will benefit locals first. It will give them the chance to move into new, high quality homes that can better meet their needs.
Tenure blind
One of the most interesting things about these plans is the homes will be tenure blind. That means the six new buildings will all have similar designs. The idea is to boost integration. On some projects there can be a big different in the design of council housing and homes for private sale. Unfortunately that can create barriers in the community and can also lead to issues in the future.
This project looks to avoid the whole issue by designing with integration in mind. In addition, they are extending it to ensure the new buildings will fit seamlessly into the wider area. They should sit perfectly among and reflect the character of existing housing.
Plans to regenerate the De Beauvoir estate have been floating around for years. The proposal for this first phase itself has been in the pipeline for four years. In that time there have been consultations with locals so the council, architectural designers, and architects can find out what they would like to see from the project.
Speak to us about property investment in Hackney
Finefair Ltd knows what it takes to be successful with investing in property. We appreciate what needs to go in to get a healthy return. In addition, we know how important it is to protect rental income and get good management services. Our goal is to provide all of these in an easy package with help from the local councils in London. It can give our clients the best of all worlds.
So, if you want to look at property investment in Hackney, you can work with us. Get in touch today to find out more and let us know what you have in mind in terms of investing.
