The mayor of London attracts investors to supply the city with affordable housing

UK property, namely, property in London has become a center of attraction for global investment capital. One of the biggest players on the investment market in the construction industry in London are institutional investors is a large European pension funds and insurance companies. And now, when the mayor of London Boris Johnson announced the construction of more than 1,000 high-quality new homes to rent long term, institutional investors ready to participate in financing this project. Over the last decade the number of households in the private rental sector has increased by more than 66%.

At the recent Cannes investment conference, the mayor presented his plan to use land owned by the London and urged investors to invest in development projects of London.

The mayor announced the launch of two new projects in Newham, where it will build about 700 units of housing for Londoners, one third of them will be sent to the private sector lease.

The city of London is looking 25 developers who, in the shortest time possible, bypassing contests , would undertake the development of new individual projects and would help to attract investors ‘ money.

Near the station Pontoon Dock, where over the past 10 years the land was used primarily as a Parking lot, will be built a complex of new houses with a beautiful view on the other side of the Thames and easy access to transportation.

Another promising area canning town. Once, before 1860, it was a residential area. Later he was abandoned and barely inhabited. Now the area is cleared of low-quality commercial real estate units, and ready for grandiose construction. Transport project Crossrail, which will be launched in 2018, will provide area excellent access to Central London and the Western part.

Given the unprecedented population growth in London, the problem of availability and affordability of housing relevant as ever. It needs at least double the volume of construction in London. Such a task requires strategic rethinking and new approaches, which provided not only the quantity but also the quality, convenience and comfort.

In the summer of 2013 in London has already run a similar project near Elephant and Castle, called Newington Butts , which involved the Builder of the Newington Butts Development Ltd, and which included funds from institutional investors. The project will include 457 units, 187 of which will be classified as “affordable housing” and created hundreds of new jobs.

The project was designed by architectural firm Rogers Stirk and Harbour . It will be complex with unique architecture and design, with high quality services, equipped communal areas and green terraces. The apartments are available for long term lease under the mayor’s affordable housing programs.

® Maxim Savitsky 13.03.2014

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