Gunmakers Wharf (020 8981 4484) on the corner of Old Ford Road and Gunmakers Lane, is a development by A2Dominion housing association of 121 flats (39 affordable); only three private sale flats remain, ranging in price from £515,000 for a two-bedroom flat to £655,000 for a three-bedroom flat.
No 1 The Avenue on Devas Street in Bromley-by-Bow is the final part of the Barratt Homes redevelopment of the St Andrew’s Hospital site. The development comprises 964 new homes designed by a range of architects including Allies & Morrison and Maccreanor Lavington. There is a new health centre and five new public spaces. No 1 The Avenue is a 17-storey tower block comprising 152 flats for completion in December this year. Prices range from £413,500 for a one-bedroom flat to £461,000 for a two-bedroom flat.
Essence — the Spirit of Bow (0845 223 0000) is a development of 207 flats (118 affordable) by housing association Circle Housing in Roman Road. One two-bedroom penthouse remains at £695,000 and residents move in next month.
Close by on the eastern side of the A12, near the Olympic Park, in Sugar House Lane, Ikea’s development arm LandProp has planning permission for 1,200 new homes at Strand East that will include a new business park, a landscaped plaza and a 40-metre illuminated tower.
Meanwhile, the East London Community Land Trust, which now owns the St Clement’s Hospital site, has come up with an innovative idea for providing affordable homes in an area where many local people have been priced out of the market. The trust has just started work on the site which will provide 252 new homes, 100 of which will be converted from the old hospital buildings fronting Bow Road. The scheme is set for completion towards the end of 2016, and some of the homes will be for private sale, others for social rent. However, there will also be another ground-breaking category of affordable home ownership, where the price of the property will be linked, not to the market, but to the mortgage that someone on the average local wage could afford, with all future valuations based on the same formula.
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