Martin Skinner, the property developer and CEO of Inspired Homes, has chosen London’s Nappy Valley as the location for his new micro-home development.
Inspired Homes has bought 177 Abbeville Road in Clapham, which has seen price rises of 36% over the last five years, according to Zoopla, leaving many first-time buyers priced out of the popular south London destination.
The scheme will have 30 one-bedroom and 11 two-bedroom micro-apartments, which will be priced around 20% below typical new-builds in the area.
With prior approval permitted development consent received last week, the redevelopment will convert a 1930s office building, comprising 19,000 sq ft, which is just a few minutes’ walk from Clapham Common tube and the bars, restaurants and shops of Clapham High Street.
Working with architects Child Graddon Lewis, Inspired Homes will restore the existing building, putting in new windows, a new entry lobby and communal gardens.
The apartments will have hardwood flooring throughout, designer kitchens with stone worktops, bathrooms with porcelain floor and wall tiles, home automation including heating and lighting control, communal heating systems and superfast 1 Gb broadband by Hyperoptic.
London Help to Buy will be available on all apartments six months prior to practical completion. Work on site is expected to start next month.
Skinner said Clapham Common, and Abbeville Road in particular, is one of the most sought-after locations for London’s young professionals and city workers.
“This is Inspired Homes’ first micro-apartment scheme in a central London location, providing high spec, high tech homes that are considerably more affordable because they are smaller,” he said. “This is an exciting opportunity for buyers to purchase a new home close to Clapham Common and the trendy bars, cafes and shops on Clapham High Street, at relatively affordable prices.”
Skinner set up Inspired on the realisation that tenants didn’t want to rent forever, but found the step up from renting to owning becoming ever larger as house prices rose.