Today we have announced the purchase of 68 residential units at 333 Kingsland Road from Downham Road Ltd., a joint venture between Thornsett and the Benyon Estate.
The announcement follows the recent issuing of planning permission by the London Borough of Hackney, following endorsement by the Mayor of London, Sadiq Khan, to re-develop the former Kingsland Fire Station to provide a mixed use development. The site was previously owned by the London Fire and Emergency Planning Authority (LFEPA) who decided to sell the site as surplus to operational requirements.
The wider development, contained within a scheme of 12 storeys across the 0.2123 hectare site, comprises 68 new homes in a range of 1, 2 and 3 bed apartments above a new free school, and a 298m2 commercial unit. In line with our charitable objectives we have decided to voluntarily make available half of the 68 homes as intermediate rental homes for working Londoners on modest salaries.
This acquisition strengthens our offering of affordable rental homes for working Londoners within the Borough of Hackney, and further demonstrates our commitment to deliver 1,000 homes by 2020. Each intermediate rental home will be targeted to working Londoners on low to middle incomes who are finding it increasingly difficult to find a quality homes close to their workplace.
Olivia Harris, Chief Executive, comments:
I am pleased to confirm Dolphin Living’s acquisition of the proposed 68 new homes as part of the re-development of the former Kingsland fire station to provide more homes within Hackney for working Londoners. Our commitment and charitable objectives are to provide affordable rental homes to working Londoners who are becoming increasingly squeezed in a city where house prices and rents are becoming unattainable
Work by Jean Paul Construction on delivering the new homes and free school will commence this month, with an estimated completion date of summer 2019.