Construction work is progressing well at a new development in Forest Hill, where the first homes have already sold.
Bellway is building 59 apartments at Dacres Wood Court, comprising 39 homes for the open market and 20 affordable properties for local people through rent or shared ownership.
The development, located on the former site of Our Lady and St Philip Neri Infant School off Mayow Road, will consist of three buildings containing a range of one, two and three-bedroom apartments, as well as a landscaped garden and play area.
The foundations of the three buildings have been laid and work has now begun to construct the lower storeys of the development. All apartments are due to be completed by spring next year, when the first residents are expected to move in.
Bill Kenneally, Regional Director of Bellway London Partnerships, said: “Work on Dacres Wood Court is progressing very well and we’ve had many enquiries on the homes here following the launch of the development in March.
“Bellway London Partnerships was established with the purpose of delivering high-quality, attainable homes in suitable locations across the capital. Dacres Wood Court will transform a derelict brownfield site into a thriving new community of homes situated within an existing residential area.
“As well as providing much-needed affordable housing for local people, the development is also delivering a range of open-market homes suitable for Londoners taking their first steps onto the property ladder.
“All the apartments at Dacres Wood Court are priced below the London Help to Buy price cap, and a significant proportion of purchasers at the site have been first-time buyers using the scheme.”
London Help to Buy enables first-time buyers to secure a new-build home in the capital with a five per cent deposit and a 55 per cent mortgage. The remaining 40 per cent is provided in the form of a Government-backed equity loan, which is interest free for the first five years.
The scheme, which runs until 2023, is now only available to first-time buyers and on homes which don’t exceed the price cap of £600,00.
Bill said: “Good commuter links are essential for most people living in the capital, and residents at Dacres Wood Court will be within a 15-minute walk of two railway stations – Forest Hill and Sydenham – which have direct trains to central London.
“The development is also attracting interest from families, as the site is close to several well-regarded schools, shops and green spaces, including Mayow Park less than half a mile away.”
A selection of one, two and three-bedroom apartments are currently available for sale at Dacres Wood Court, with prices starting from £352,500. To find out more, call the sales team on 020 3993 3943.