When the Government announced the First Homes policy, Pocket Living welcomed the ambition. The premise of the policy is identical to what we have been doing for years, namely opening up homeownership to young middle earners by selling at a discount.
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Pocket Living was delighted to receive planning permission from Haringey council last week, for our most ambitious scheme to date, West Green Place N17.
This allows us to deliver 98 Pocket homes, which will be available to local first time buyers at a 20% discount, establishing another strong community of owner occupiers. West Green Place will also include with a new community centre for the benefit of the whole local community .
Mountearl Gardens SW16 is another great example of the way Pocket Living brings architectural quality to areas of London popular with first time buyers. We’re really proud of our latest scheme which made creative use of this site set on the corner of the handsome estate off Leigham Court Road. Previously home to old garages, we worked with HKR Architects to create a building comprised of one, two and three storey blocks that optimises the site without compromising the views of existing residents.
Being assembled this week are the lego-like units of our latest scheme in Lambeth, Mountearl Gardens SW16. These 32 homes in Streatham are replacing disused garages and will help local first time buyers get onto the property ladder.
So good they invested twice
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Pocket was delighted that Sir Steve Bullock, Mayor of Lewisham and Lewisham Housing Chief Cllr Damien Egan kicked off the construction of 26 affordable Pocket homes yesterday for local people in Lewisham.
Like marriage, the secret to a successful first time home purchase is compromise.
In what has become a supply-starved London housing market effected by rapidly rising prices, Pocket have built their model around the one facet that first time buyers are not willing to compromise on – location.
The London-based developer prioritises location over size allowing it to deliver first-time buyer homes in good commuting locations at a minimum of 20% below the open market rate capped at the current top price of £260,000.
“Pocket brings a rational approach together with the sort of design flair that makes spaces feel generous and desirable. As the current crisis forces new thinking, Pocket’s initiatives provide a positive example to other housing providers when new ideas are thin on the ground.” Peter Murray, New London Architecture