Havering Council has completed a purchase of 82 new homes in Romford, to help tackle shortage for family-sized homes in the area.
The new homes, part of the Hollybrook Development on Crow Lane, were purchased by a joint-venture partnership between Mercury Land Holdings and Havering Council.
The homes range from one-bed apartments to a large number of four-bed family houses.
38 properties (33 four-bed and five three-bed homes) will be used as affordable housing, providing much-needed larger, high-quality homes for bigger families and reducing levels of overcrowding.
The remaining housing will be allocated for the private-rented market, managed by Mercury Land Holdings.
Despite a short delay due to COVID-19, the new properties will be available autumn 2020, the first of these available in July.
“We have to address the shortage in short-term supply”
The purchase of the homes comes as part of a wider plan to ensure the council is responsive to the borough’s changing housing needs, including a programme to buy back former council properties for use by local families and plans to deliver high-quality homes through regeneration projects.
Havering Council’s Joshua Chapman, cabinet member of Housing, said: “Whilst our regeneration projects are going to deliver new homes and communities in the future, we have to address the immediate shortage in short-term supply, especially the lack of four-bedroom affordable housing.
“Purchasing the Crow Lane development will ensure we have a strong stock of good-quality homes for local families across Havering ready to move into now.”
He added: “I’m really excited about this opportunity, and I’m proud that we’ve been able to take quick action, alongside our regeneration and buy-back programmes, to make sure we can provide for Havering families today.”
Garry Green, director of Mercury Land Holdings, said: “Our aim is to provide high-quality, well-managed homes for local people, and Mercury Land Holdings is delighted to have acquired these units.
“Victory Place includes a mix of one-, two- and three-bedroom private-rented apartments. All the properties are brand new, high specification units and will give residents more choice and flexibility in the Havering housing market.
“Following industry best practice we offer tenancies of up to three years, allowing tenants to make longer term plans for living in the borough.”
He added: “Rent also includes all service charges, reduced gym membership and complimentary internet. There will also be some large family homes for sale.”
Nick Langley, from Hollybrook, said: “Hollybrook is delighted to deliver this development in partnership with Havering Council and Mercury Land Holdings.
“We are pleased to support the ambitious plans of Havering Council to deliver much needed housing in the borough and look forward to working together again in the future.”