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pocket living

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BDC 317 : Jun 2024

pocket living

Leader & Deputy Leader of Barnet celebrate major milestone in the delivery of Pocket Living’s 100% affordable housing scheme

The Leader & Deputy Leader of Barnet, Cllr Barry Rawlings & Cllr Ross Houston, and Cllr Claire Farrier joined Pocket Living’s Chief Commercial Officer, Nick Cuff, to lay the first ceremonial brick at the innovative housing developer’s first scheme in the borough. The visit represents a significant milestone in the delivery of this 100% affordable housing scheme, which is expected to complete by summer 2023. All 86 one-bedroom homes at Woodside Park will be sold to Barnet’s first-time buyers at a 20% discount to the local market, pricing those who either live or work in the area into home ownership. The forward-thinking scheme will be car-free, contributing to the Council’s wider sustainability ambitions to be Carbon Net Zero by 2030, with everyone living at Woodside Park also benefitting from access to two rooftop gardens with lush planting, allotment beds and dedicated wellness space. Pocket Living’s database already has registered approximately 1,000 local people who live or work in the Borough who are interested in buying a home at Woodside Park, with a third of those registered working in the public sector. This includes roles within the Metropolitan Police, Barnet General Hospital, local primary schools, Middlesex University Business School and Barnet Council. With building starts in London expected to be at a 10-year low and in light of the growing challenge of rising build costs, with cost inflation, according to the Office for National Statistics, increasing by 22% since 2021, Pocket still remains committed to delivering affordable homes. This year will represent the most productive year in Pocket’s history, with 480 homes starting on site across four London boroughs: Barnet, Waltham Forest, Harrow and Greenwich. Pocket Living is also expected to go to planning committee in late October for their Dolman Close application in West Finchley, which could deliver a further 60 homes to local people in the Borough. Nick Cuff, Chief Commercial Officer at Pocket Living, comments: “As the cost of living continues to rise, the need to deliver affordable homes in the capital has never been greater. It is clear from the significant number of people who have already registered their interest for this scheme that there is significant demand for high-quality but affordable homes in this area of Barnet and we are delighted that Barnet Council is proactively working with us to deliver schemes such as Woodside Park”. Cllr Barry Rawlings, Leader of Barnet Council, added: “This is an exciting and innovative new development which will help us deliver on our commitment to build more genuinely affordable homes in Barnet and contribute to our sustainability goals. We’re delighted to welcome Pocket Living to the borough and look forward to working with them on other schemes in the future.”

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Council lays first brick in England’s largest first time buyer-only housing scheme

The new Deputy Leader of Waltham Forest, Ahsan Khan, lay the ceremonial brick at affordable housing developer Pocket Living’s Osier Way scheme in Leyton. Joined by Leyton Ward Councillor Rhiannon Elgin and Pocket’s Chief Commercial Officer Nick Cuff, the ceremony marked an important milestone for the area and prospective first-time buyers residing and working in the borough. Once Osier Way completes, the London Borough of Waltham Forest will have delivered the highest number of Pocket homes, compared to any other borough across London. Totalling 331 homes, this reiterates the council’s ambitions and commitment to delivering housing for the next generation of homeowners. With the median age of residents within the borough standing at 35 years, (compared to 401 across England), the need for entry level homes has never been greater. Osier Way represents one of Pocket’s most ambitious projects in its 17-year history, as well as being England’s largest scheme dedicated only to first-time buyers. Scheduled for completion in summer 2023, the development will provide 196 new homes, including 148 one-bedroom, 41 two-bedroom and 7 three-bedroom Pocket homes; all of which will be exclusively available at a 20% discount to market value for first-time buyers who live or work within Waltham Forest. Located just a short walk from Leyton station, the car-free scheme, consisting of five blocks ranging from six to 13 storeys, will also include 900 square metres of light industrial space and a further 50 square metres of café space. To date, Pocket has delivered one scheme in Waltham Forest and has over 2,000 eligible first-time buyers who live or work in Waltham Forest interested in buying a Pocket home at Osier Way. Shortlisted for three design awards, Pocket’s Gainsford Road development highlighted the success of the Pocket model in Waltham Forest. Another 90-home scheme is also in construction at Forest Road in Walthamstow, which forms part of Pocket’s ambitious targets to deliver 550 homes across London in the next 18 months. Cllr Ahsan Khan, Deputy Leader of the London Borough of Waltham Forest, comments: “The Council is committed to doing whatever it can to help people in Waltham Forest onto the property ladder. The scale of Pocket Living’s ambition for the Osier Way scheme speaks to both to their ingenuity and the need for well designed, affordable homes for first-time buyers in the borough.”   Nick Cuff, Chief Commercial Officer at Pocket Living, adds: “As the cost of living continues to rise it has never been more difficult to own a home in London and so it is vital that we continue to deliver innovative housing solutions to unlock homeownership for the next generation of Londoners. As such, we are proud to be continuing our partnership with the London Borough of Waltham Forest to bring forward highly sought-after homes that will truly help local people onto the housing ladder.”

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