Press Release: 17 February 2021
Greenwich green lights borough’s first Pocket homes
- Pocket Living gains unanimous support from the Royal Borough of Greenwich to build 48 new affordable homes at The Heights Estate, the first in the borough
- The discounted homes will be targeted at people living and working in Greenwich, supporting local people onto the property ladder
- The first time buyer market remains buoyant and demand for affordable routes to home ownership continue to grow as Londoners look to find their own space post-pandemic
On Wednesday (16 February) evening, Greenwich Council’s Planning Board voted unanimously to grant permission for 48 new homes to be built by Pocket Living on an underused carpark at The Heights Estate.
The unwavering support from councillors is recognition of the pent up demand for accessible, alternative routes to home ownership, adding to Pocket’s growing development pipeline of over 1,000 homes across London.
The new affordable homes, offered at an 20% discount to market rate, will be built on previously council-owed land that was once the site of a quarry. Since the 1970s the land has be underutilised and is currently a small car park.
The development will be Pocket’s first in Greenwich, building on their success in other south London boroughs, including Southwark, Lambeth, Lewisham and Croydon, as well as other popular spots north of the river such as Haringey, Barking and Waltham Forest.
Designed by Gibson Thornley, the scheme will offer 45 one-bedroom and 3 two-bedroom homes, the vast majority of which will be duel aspect. All the homes will have access to a shared roof terrace and ground floor garden. The development is set for completion in 2023.
Nick Cuff, Pocket Living’s Chief Commercial Officer, said:
“Pocket homes offer ordinary Londoners a first step onto the property ladder away from flat shares or living with mum and dad.
“As we look towards a post-Covid market, it’s clear to us from our own research and the level of interest we’ve had across London that there’s a substantial group of first-
time buyers who are either locked out of, or aren’t attracted to, existing routes to ownership – that’s where Pocket has a big role to play.”
“We have seen a huge demand for our affordable homes, much of which is driven by key workers – nurses, firefighters, teachers – wanting to put down roots and find a place to call their own in the Capital.”
Since launching in 2005, Pocket Living’s approach to affordable compact living has become increasingly popular, filling a gap in the market for middle-earning Londoners who want to remain living in parts of the city whey they work or grew up. 40% of Pocket’s purchasers are key workers. To date, Pocket has built nearly 1,000 homes across London with many more in the pipeline.
Pocket Living is currently selling homes at Addiscombe Grove in Croydon and Harbard Close in Barking. To register interest in these schemes or to be kept up to date about future Pocket developments, visit www.pocketliving.com
For more information, please contact:
Jenny Marshall / Ashley Rudge
email@example.com / firstname.lastname@example.org
07921 499 001 / 07725 242 298
NOTE FOR EDITORS
About Pocket Living
Pocket Living is a company that sells well-designed, local and affordable homes so the people who make a city tick, can also make it their home. The company was founded 15 years ago by Marc Vlessing and Paul Harbard to inject a dose of innovation into a failing housing market.
Pocket Living is also a high-profile national and London-wide campaigner for more affordable housing in the capital. Pocket homes are for the millions of young, middle-earning people who contribute to London’s economic and cultural success but can't afford to buy their first home.
Pocket is Pocket Living’s primary offer, an affordable home designed for first time buyers.
Pocket’s business model is to build affordable housing, without public subsidy, sold outright to buyers at a discount to the local market of at least 20%. Buyers of Pocket homes have to live or work in the local area and own 100% of the property from day one. Buy-to-let investors are excluded and Pocket leases ensure the homes remain affordable in perpetuity. Pocket owners also have to prove that they are resident in their homes every year to check that they are not sub-letting.
A video about Pocket homes can be found here: https://youtu.be/vaso1tUlxt4
For more information visit www.pocketliving.com