Build to Rent provider Greystar has secured planning approval for a new scheme on Lombard Road in Battersea. Wandsworth Council unanimously approved plans, which include 35% on-site affordable housing.
The site is situated at the Junction of Lombard Road and York Road and within walking distance of a variety of local shops and restaurants in both Battersea and Clapham.
Greystar’s scheme will deliver 294 Build to Rent homes – a mix of one- to three-bedroom apartments, including 90 affordable properties’ that will cater for families, couples and single renters.
In the current climate of increasing rents and living costs, the high-level of London Affordable Rent (71% of the affordable units by habitable rooms) will meet a substantial need within the borough for an affordable rental option that still delivers a high-quality environment and security of tenancy.
For the first three months, the homes will be marketed exclusively to people living and working in the borough.
“This is a fantastic result, which will create a diverse community in a high-quality building. The high proportion of properties being offered below market rent makes this an accessible option for people living and working in the borough. We look forward to working with Wandsworth Council to market the properties to Wandsworth residents.”Daniel Thompson, Managing Director (MD)– UK Development, Greystar
The Battersea scheme also features three retail spaces on the ground floor, providing new local services and enlivening the area around the building.
The scheme will be a car free development, other than nine off-street Blue Badge parking spaces, and contains 872 sqm of new, landscaped public realm. There will also be 516 long-stay and 22 short-stay cycle spaces.
Residents at the scheme will benefit from excellent public transport connectivity, including National Rail links at Clapham Junction Station. Battersea Park is also within walking distance with its sports centre, tennis courts and 200 acres of parkland.
The scheme will also deliver 250 FTE construction jobs and 15-20 FTE operational jobs, targeting local people.
Greystar has also committed to delivering an Employment and Skills Contribution, as well as helping to fund the implementation of a Controlled Parking Zone around the building and an Open Space contribution.
The approval follows Greystar’s acquisition of the site from Big Yellow a year ago.