On Your Marks
Evening Standard, Homes & Property, 17th September 2008Developers are hoping the wonderful spectacle of the Beijing Olympics will rekindle buyers’ interest in new homes in and around Stratford ahead of the 2012 London Games. While plans to build more than 3,000 apartments in the Olympic village (initially for competitors and later for full-time residents) have been rocked by the credit crunch, other developers are seizing the chance to snap up reduced-price sites close to where the action will be.
Stratford has been undergoing a building boom since 2005 and several residential schemes are now nearing completion. Most of these flats were brought off-plan by enthusiastic buy-to-let investors, whereas the next stage of homes is likely to appeal to owner-occupiers who want to live in what will be a very different place four years from now.
On the Edge
Coming soon is The Edge, on Lett Road, an eye catching development of 64 apartments with an unusual affordable housing deal – ten of the flats have been earmarked for local carpenters. The scheme is a joint venture between developer Thornsett Group and the Worshipful Company of Carpenters, which has a training college nearby. Computer images of the 10-story tower show a dramatic cantilevered section jutting out like a giant television monitor above the lower floors and sheltering a communal roof terrace. A show apartment will be ready later this year and completion of the scheme is due next summer. The 54 “open market” apartments for sale will include penthouses with double-height interiors and views over the Olympic Park. Prices start at £250,000 for one-bedroom flats. Call Knight Frank on 0207 473 6820.