New £116m London scheme from Crest Nicholson

New £116m London scheme from Crest Nicholson

£116m Dylon Works in Sydenham, following Help to Buy success post-Brexit.

Crest Nicholson is set to launch its new £116 million Dylon Works scheme in Lower Sydenham, London, this November. Dylon Works will see the site of the former DYLON textiles dyeing factory transformed into a modern, high quality, mixed–use development targeted at first time buyers. It will comprise 223 private residential apartments, retail space, a café and a crèche accommodating up to 80 children.

Located in London’s Zone 4, the £116m development reinforces the developer’s focus on land acquisitions in outer London, where sites provide first time buyers with affordable home ownership options and good connectivity to the Capital. This most recent launch comes in light of the ongoing sales success at existing sites in Wood’s Road, Peckham, and Evoco, West Wickham.

These sites have experienced continued demand from first time buyers since the Brexit referendum, with properties selling fast as those keen to get on the property ladder take advantage of Help to Buy London. Since its launch in late July 2016, 28 units at Wood’s Road were sold in the first 12 weeks, with 100% of properties sold to first time buyers. At the now sold-out Evoco, 95% of the apartments have been sold using Help to Buy London to local first time buyers.

Stephen Stone, Chief Executive of Crest Nicholson, said: “In a post-Brexit market we have experienced continued demand, particularly from first time buyers. As the fundamentals of the housing market remain unaffected by the UK voting to leave the EU, and with market indicators showing that buyers are still keen to buy, we are continuing our focus to best serve this ever-growing section of the market.

“Frequently cited as one of London’s up-and-coming areas, we are very pleased to bring our state-of-the-art Dylon Works development to Sydenham. Delivering modern, affordable, well designed housing has never been more important and we look forward to bringing a large volume of properties to the first time buyer market in Sydenham and other similar locations in outer London and beyond.”

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