A development of 1,750 homes near Plumstead bus garage is now on sale in Hong Kong.
The homes are part of Thamesmead’s Housing Zone.
When announced, Housing Zones were to see “Local authorities identify and package together brownfield land which could be used for development into a housing zone, remove all unnecessary planning restrictions across it and partner with a developer to build new homes.
The absence of planning constraints in these zones will significantly accelerate construction.”
Since the zones were established in 2015, Peabody have only built around 150 homes out of a planned 2,826 homes at Housing Zone sites across Thamesmead in both Bexley and Greenwich boroughs.
Infrastructure improvements reduced
When plans for 1,750 homes were approved, proposals to improve infrastructure including the gyratory separating two sides of the site was heavily watered down.
Plans to covert three lanes of one-way traffic into a two-way road was cancelled. There was no funding for pedestrian improvements heading to nearby Plumstead station.
A promo video for the new development portrays a green area containing slogans such as ‘Quality, Nature, United’.
The model of selling homes overseas to alleviate housing shortages in the UK appears to have failed, with data out today showing another sharp increase in households in emergency and temporary housing, with numbers up by almost 200 adding to costs pressures on the local authority.
Slow build rates across Housing Zone sites have coincided with households in insecure, temporary and emergency housing including B&Bs rising rapidly in Greenwich borough.
In addition, the numbers unable to buy and living in private lettings has also increased sharply recently.
Location, location, location
Berkeley Homes have decided to state it’s Plumstead and not Thamesmead in marketing material, though the most prominent marketing location is “Royal Borough of Greenwich”.
A sales event for this development is to be held 25–26 September 2021 from 11am – 6pm at the Mandarin Oriental Hotel.
Berkeley are not showing asking prices on their UK site, but the Hong Kong event does show sale prices. Prices start from £367,500.