Sidcup co-op demolition to be approved: housing block coming to site

Bexley Council’s Planning Committee look set to approve demolishing a co-op supermarket beside Sidcup station for a new build housing block if officer recommendations are rubber stamped.

I first covered the plans last June when Copland Estates submitted details of the scheme.  At the time of submission I criticised the plans for a drab and oppressive colour scheme with large parts of the facade dark brown.

At the time co-op were expected to vacate by March 2019 if approval given.

An adjacent pub, the Iron Horse, is concerned new residents will complain about live music noise.

Once again a Bexley Council development includes no “affordable” housing whatsoever, even at the highest permitted level of 80% market rate let alone social housing.

Developers will pay £600,000 in lieu. It’s extremely common for developers to state that it’s unviable to build affordable homes in Bexley borough – even on sites far out into suburbia. We’ve seen it in Crayford near Sainsburys and many other locations such as Slade Green. A developer will regularly claim a site is unviable if their profit margin is less than 20%.



This was claimed when prices were rising sharply – and now the market is turning the claim is that it’s unviable to provide any affordable homes due to uncertainty. The same line is given regardless of wider factors – and developers are cashing in, as the Times reports here – with an average profit level of £57,000 on each new home across the UK.

This is from this application:

The profit margin of developers has jumped so hugely since Help to Buy was introduced many economists on both left and right worry it’s leading to imbalances and a future crash – and leaving taxpayers on the line for losses. A report by Morgan Stanley states distorting effects of the policy.

We’ve seen new build prices plummet over the past 12 months – especially when it comes to sell on. And all the time less truly affordable housing is being built. Large developers though have taken their cut – and move onto the next site.

 

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John Smith

I've lived in south east London most of my life growing up in Greenwich borough and working in the area for many years. The site has contributors on occasion and we cover many different topics. Living and working in the area offers an insight into what is happening locally.

One thought on “Sidcup co-op demolition to be approved: housing block coming to site

  • February 22, 2019 at 11:29 pm
    Permalink

    So basically only building homes for the rich and wealthy

    Reply

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