Merton Council was celebrating a fantastic milestone at the end of February. Work finally got underway on a site in Morden that will ultimately deliver the first social housing in the borough in a generation. We want to have a closer look today at the wider project and the benefits for the area. Then, if you are thinking about investment properties in Merton, you can rely on us.
Housing demands
There is a shortage of council housing in many parts of the UK. A number of factors are to blame, including failing to replace assets sold under the Right to Buy scheme. It has been difficult in the last few decades for many local authorities to boost supplies too. Unfortunately, demand has grown massively in this time, resulting in the current housing crisis.
Merton Council is working to help improve the housing situation in the borough. They are pledging to deliver 400 new high quality council homes. Four sites have been chosen; Farm Road Church in Morden and Elm Nursery Car Park, Gardens Car Park, and Madeira Road, all in Mitcham. Funding for the projects is from the Affordable Homes programme, an £11.5bn fund that aims to deliver 130,000 new homes by 2026.
The new council homes will be very high quality. Designs will align with Passivhaus standards, so they will be energy efficient, green, and sustainable. This is notable because it ensures tenants will have more affordable living costs, and the local authority will have properties they can rely on for generations.
First step underway
The work to deliver Merton’s new council housing is progressing. Demolition began at Farm Road Church in February. It will clear the site, allowing the construction to begin later in 2025. This is great news, and will hopefully inspire more work to create more homes and investment properties in Merton.
An interesting thing here is the care and attention that has gone into the demolition. It is a necessary part of many projects to clear sites, however, it can be noisy, messy, and harmful to the environment. Contractors DDS Demolition has acknowledged their duty to the public here. They have taken steps to reduce dust and ensure safety, particularly with traffic. In addition, there was an ecological survey to ensure there weren’t bats roosting on the site.
Comments
There were several comments to mark the milestone of the project getting underway. The Council Leader, Cllr Ross Garrod, was happy to see the work to build the “first new council homes in a generation” begin. He confirmed Merton is focusing on “improving the availability of housing”, making sure properties will deliver a “good and decent quality of life for all new residents”.
Councillor Andrew Judge, the Cabinet Member for Housing and Sustainable Development, also had positive words for the project. He said the new homes will “relieve some of the pressure on our local housing crisis”. Most importantly, the new properties will be pivotal in “transforming the lives of individuals and families”.
Do you want some help with investment properties in Merton?
Finefair Ltd loves to see projects get up and running in London. They can be wonderful for local areas, delivering housing, amenities, public space, and more. It can completely transform places and inspire even more regeneration.
We can offer clients a fantastic selection of high quality services if you decide to invest in assets in the city. We’re one of the top providers of guaranteed rent. It’s the ideal way to ensure you get an income without having the risks of a private landlord. In addition, we can handle management, HMOs, acquisitions, and more.
So, if you want to find investment properties in Merton, or have assets you want us to manage, please get in touch. We’ll select the perfect solutions for you to maximise value.
