Penge is one of the most interesting suburbs in Bromley, South East London. It was incredibly fashionable in the Victorian era because of the number of pubs and proximity to Crystal Palace. There is still a lot to love today, including a village feel, impressive sports facilities, good schools, and affordable housing. A new development could bring even more of the latter. We want to take a closer look at this plan today, then if you want guaranteed rent in Bromley, you can reach out to us.
Redevelopment
The project is to replace Blenheim Shopping Centre with four tower blocks. The tallest of these will be 16 storeys. It would create 230 new homes as well as cultural and social amenities. The developer envisages the project as creating a new community focused centre, something which will transform a major part of the high street.
This proposal is from Hadley Property Group and Clarion Housing Group. The developer and housing association hope the project will be transformative. There will be 35% affordable housing. That will be helpful because 3,000 people are waiting for the council to help them get housing. Plus, 2,700sq/m of space will be for shops, ensuring there will still be a retail presence on the site. Iceland has said they would have an interest in staying.
Changing the plans
This proposal is actually a revision of an earlier one. It has made a number of key changes because the initial plan got some backlash. If you are considering investing and guaranteed rent in Bromley or elsewhere in London, you may have to deal with a similar situation.
Most notably, there was a petition with over 2,500 signatures expressing opposition. The major concerns were that the height of the blocks would harm the area. In addition, there were fears that the project would make it difficult for businesses to survive during the demolition and construction.
Hadley Property Group and Clarion Housing Group said they have been working with the council, local residents and business over the last two years. This has led them to the changes, including reducing the height of the tallest blocks. Originally the plan was to reach 18 storeys, but it has been cut to 16.
It remains to be seen now what the reaction is to the new plans. Sadly there is still likely to be some opposition because the buildings are tall and it is impossible to avoid any disruption to the businesses. However, the plan does have merit. Local planning authorities will have to consider the benefits against the potential harm. They can then decide whether to give permission or require further changes. However, the developer said reducing the height of the blocks even further would mean they have to reduce the amount of affordable housing.
Do you need guaranteed rent in Bromley?
Whether the project goes ahead and creates new housing or not, Penge and Bromley in general is a great area to consider for investments. As we said above, it has a lot to offer such as good schools and green spaces. The affordable prices will appeal to many people too.
If you do invest and want some great guarantees, we are the team for you. A major area of our expertise is arranging guaranteed rent in Bromley. It can deliver consistent income with absolutely no breaks or stops, even if there aren’t any tenants in the property. This can last from 1-5 years to suit your needs.
So, speak to us if you want to learn more or set up this incredible service.
