Earlier this week, a Havering Council committee gave a recommendation to approve temporary plans for Waterloo Estate in Romford. As a result, it could soon be host to 18 modular homes. We want to look closer at the plan and what it means for the future of the site. Then, if you need guaranteed rent in Havering, you can trust us.

Redevelopment

The site in the centre of Romford is clear and will eventually be a new 1,380 home development. However, there has been no progress since a halt in 2023. The estimate is that the delay will continue for another five to seven years.

With the work to redevelop the entire site on hold, the council is considering temporary solutions. The overview and scrutiny committee is recommending plans to erect 18 modular homes on the site. They would help to ease pressure on housing and the councils spending on temporary accommodation.

The homes

The rectangular modular homes will each be a single storey. However, they will be stackable too, up to three storeys. This will provide more flexibility in the future.

Crucially, the goal is to ensure the homes are modern and high quality. Each of them will be fully furnished. They’ll have heating courtesy of air source heat pumps. As a result, they’ll be energy efficient and sustainable. They will also have garden space on the site.

It will cost Havering Council £200,000 per modular home. Therefore, the total for all 18 will be £3.6m. Grant funding will be available to cover part of the cost. It will be really interesting to see if the move encourages more use of modular housing. Investors should definitely think about it and guaranteed rent in Havering.

While the homes will only be on the Waterloo Estate temporarily, their life cycle will be longer than five to seven years. It will be possible to relocate the homes five times, ensuring the council could easily move them to areas where there is the highest need for housing. However, the local authority is anticipating they will only move them once in the future.

Councillor comments

Committee chair David Taylor said the council will make sure homes are high quality, not “basic container homes”. They’ll be a big improvement for families, allowing them to move out of temporary bed and breakfast accommodation and into “warm, dry homes”. The Council will also make sure they get the best value for money.

Next steps

The expectation is Havering Council will consider the modular housing later this month. It is likely it will get approval. If so, the homes would be manufactured quickly, delivered and installed to be available in autumn.

Speak to us to learn about guaranteed rent in Havering

We are proud to be one of the leading providers of rent guarantees in London. We know how fantastic these schemes can be for investors. With them, there is no stress about tenancies or losing income. Rents are consistent every month, with no reasons for breaks or stoppages. In terms of secure cash flow, there is no better option.

So, if you are looking for an alternative to being a private landlord, speak to us. We can offer guaranteed rent in Havering and all other parts of the city. In fact, you can rely on us if you have assets in numerous locations; we can arrange a single account for all of them.