Demolition of West Ham’s old stadium the Boleyn Ground in Upton Park is now well underway. The Hammers moved grounds at the start of May this year and now have the former Olympic stadium in the Queen Elizabeth Park to call home.
The move has not been without controversy, it was recently revealed that the club is paying the tiny sum of just £2.5m per year for use of the stadium.
Once the demolition work is completed, work on the huge ‘Upton Gardens‘ residential development will begin. A local resident’s group ‘Focus E15‘ had pressed Newham council for the entire site to be allocated for social housing.
However, in March 2016 Newham Council and joint developers for the project Barratt London and Galliard Homes announced that after taking all concerns into account, a minimum of 25% would be allocated for affordable housing.
Focus E15 campaigner Hannah Caller said, “the figure of 25pc is not enough. It is doing nothing to relieve the housing pressure for those people who are in need of homes and there won’t be enough affordable homes for people coming into the borough.”.
The Upton Gardens development will include a mix of 842 one, two, three and four bedroom properties and incorporates 211 affordable homes including 125 at affordable rent and 84 available for shared ownership.
The developers boast that all apartments at Upton Gardens will have private outdoor space. Residents will enjoy communal gardens, landscaping and connectivity to Priory Park. There will be a 24-hour concierge, a ‘fitness suite’ and underground car parking is available at an additional cost. Off-plan sales will begin in early 2017.
The following rendered images were released as part of Barratt London’s recent marketing collateral…
DMZ thinks this development will be one to watch in 2017.
Since 2014, year-on-year Newham has been one of London’s fastest growing boroughs for property prices. The Stratford ripple effect, the impact of Crossrail and ongoing Olympic Park investment leads DMZ to believe that prices will continue rise in 2017-8.
If the finished product is anything like the rendered images, DMZ sees Upton Gardens as a highly desirable location for the large swathe of millennials who have found themselves priced out of home ownership in zones 1-3 in the Capital. Watch this space.
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.