Plans have been revealed for Pocket Living’s biggest scheme to date.
The developer, which prides itself on helping first-time buyers on to the property market with well-designed homes that come with a 20% discount to the market rate, is going from strength to strength.
The Haringey plans are for a local authority-owned nursery and day centre site in West Green, to the west of Seven Sisters and will provide 130 new homes, plus re-provision of the community uses.
Looking at the London Residential Research database the largest of Pocket’s schemes in their planning pipeline is a site in Wandsworth for 89 homes. The biggest scheme to complete is just 39 units and the average sized development across the entire portfolio (that includes both completions as well as those yet to start) is just 34. This latest scheme proposed for Haringey, marks a big step up in ambition for the rapidly growing developer.
A big part of that step up in ambition must surely be attributed to the recent investment it received from US giant Related, who acquired a 50% stake in the company earlier this year. Pocket has built 357 homes over the past 13 years and has plans to deliver 250+ homes this year alone. Much of its development comes from modular construction, meaning homes can be built quicker. That is hugely beneficial, especially for the 30,000+ customers who have registered an interest in a Pocket home, proving the model is in great demand.
By 2018 the company plans to be London’s largest developer of affordable housing for sale, well on its way to delivering 4,000 new homes by 2023.