Planning permission granted for 29 new low cost homes by the River Wandle delta
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Twenty nine new homes for low cost home ownership have received planning permission on the site of a fuel storage depot as part of the wider redevelopment of the Osiers Road area.
The site overlooks Bell Lane Creek and the River Wandle delta, which is currently undergoing improvement works by Thames Water to create a new nature reserve and support aquatic wildlife.
Just over 900 square metres of business space would also be provided, along with 80 homes for sale, and infrastructure improvements such as a new public plaza on the banks of the Wandle, landscaping and pedestrian routes through the area. The mixed-use development is proposed to include buildings of between ten and 14 storeys.
Committee chairman, Cllr Sarah McDermott, said, “We took into account concerns such as height and density, and it was felt that while the development would of course make an impact, this would be within London and local planning guidelines and would sit appropriately amongst the existing development. Members of the planning committee voted in favour of granting permission by eight to one.”
People who live or work in Wandsworth can get priority on shared ownership homes in the borough.
How does shared ownership work?
• You can buy a share of a property, using a smaller deposit, proportional to the share being bought
• You would also need to pay the legal fees and moving costs
• You then pay a monthly rent and service charge to a housing association, and a monthly mortgage repayment
• Over time you could increase the share you own, eg from 25% to 40% and up to 100%: a process known as ‘staircasing’
To see if you’re eligible visit www.wandsworth.gov.uk/homeownership
April 12, 2017