New development puts affordable housing in reach of working Londoners
By Bea Patel, TLE Property Editor and Director of Shop for an Agent – the estate agent comparison site
Croydon is getting a much needed facelift by Property developer Inspired Asset, who are opening Green Dragon House on 26th June 2015 as part of Boris Johnson’s wider regeneration plans for Croydon. Green Dragon House, a commercial property home to a number of well-known companies over the years, is now changing to affordable private residential accommodation for working Londoners.
Built with first-time buyers in mind, these one and two bedroom apartments are in the heart of Croydon’s cultural quarter. They’re close to transport links that take you into London Bridge or Victoria in less than 15 minutes and to Brighton in 35 minutes. Purchased in 2014, it was supported by the world’s biggest peer-to-peer loan of £4.15m, at the time the largest of its kind for property development. The high spec, high tech apartments are for first time buyers looking to take their first step on the property ladder, and investors interested in the buy-to-let market.
Inspired Assets are developing another four office blocks into affordable quality apartments in the centre of Croydon, the London borough on the receiving end of a multi-billion-pound regeneration programme. Martin Skinner, ceo of Inspired Asset says: “The ability to change out of date, tired office accommodation into residential homes can breathe life into neighbourhoods, and meet the demanding targets set to match housing demand in the capital. This is something we set out to achieve with Green Dragon House and our other developments.
“London is crying out for affordable housing and Green Dragon House is helping to fill that gap for desperately needed homes that real working Londoners can afford. These genuinely affordable private homes prove that through sensible deregulation and innovative design, it’s possible to deliver high quality, affordable private housing in London.
“As a result, we’re delighted to offer young professionals in London the opportunity to stop wasting money on rent, and start investing in their own home. Thanks to our developments and the Conservative party’s flagship right-to-buy election promise, home ownership is becoming more achievable again.”
Apartments in the Green Dragon House development start from £249,950, targeted at first time buyers who otherwise cannot afford to buy in London. Earlier this month, the annual Halifax Generation Report found that 29 per cent of prospective first time buyers thought a mortgage was beyond them, 21 per cent of 20 to 45 year olds believe they’ll never be able to afford their own property, and one in eight parents with grown-up children think home ownership is beyond their offspring.
The Green Dragon House development has a design-led approach to layout, making the most of every inch of space. This means lots of natural light, solid wood floors, big name kitchen and bathrooms and superfast internet connectivity. Every fixture, fitting and finish reflects a touch of class:
- Hardwood flooring
- Granite kitchen worktops
- Bosch kitchen appliances
- Contemporary tiling to kitchens and bathrooms
- Villeroy & Bosch sanitary-ware and Hans Grohe taps
- Efficient heating system with heat recovery ventilation
- ‘Smart Thermostat’ technology by NEST
- Low energy LED lighting
- Hyperoptic broadband – 1 Gig connection (fastest in UK)
‘Community Living’, the growing trend for social sharing is at the heart of Green Dragon House. Residents will have free access to communal areas and services to share with other residents. There are two roof gardens, one large sky garden on the 10th floor and a smaller 2nd floor terrace with a table tennis table. There’s also a resident’s lounge with relaxed seating, a pool table and a kitchen area, access to a private room for yoga classes and group use, and a concierge service, bike storage and website facilities.
Green Dragon House has embraced a growing social living culture. It recently received the First Time Buyer Award 2015 for Most Innovative Development of an Existing Property. Apartments are selling fast off-plan and likely to be ready in autumn 2015.