There was very exciting news last month with the announcement that MP Living has secured GLA funding for a major redevelopment in Ilford. It will transform a site that has been vacant for over a decade to create new social housing. Let’s have a closer look at this project and what it means for the area. Then, if you want to discuss guaranteed rent in Redbridge with one of the best providers in London, you can rely on us.

The site

While it is a main commercial centre today, at the start of the 20th century Ilford was just a small rural town. In fact, locals had to travel to do most of their shopping. Things began to change though with the establishment of Harrison Gibson. It became one of the most prominent shops in the area, starting off supplying furniture before growing to be a full department store.

The Harrison Gibson shop was a key part of Ilford’s landscape. However, it became vacant in 2016 and the company ultimately ceased trading. There were plans to redevelop it, with images released, but they did not progress. MP Living moved to bring plans forward and successfully got approval in May last year. They now have GLA funding thanks to the first round of GLA grant funding to support the creation of more affordable housing in London.

The plan

Work can now get underway to demolish and clear the site. This will make way for a modern redevelopment. It will be fantastic for Ilford, particularly local people. If you’re inspired to invest, speak to us about guaranteed rent in Redbridge.

The key thing is the new development will contain 326 social rent homes. MP Living will own the property and be responsible for managing it. However, Redbridge Council will have nomination rights, ensuring they can select tenants to live in the homes. This will provide the best benefits for local people.

Speaking about the plans, Council Leader Kam Rai was very happy to see the project take a major step forward. Critically, he said it will benefit residents, providing “much needed stability and opportunity”. Additionally, it will continue the momentum to ensure Ilford town centre is growing and thriving.

Rely on us if you want guaranteed rent in Redbridge

East London has become one of the best places to invest in the last decade. It’s growing faster than other parts of the city, particularly areas with great amenities and ongoing regeneration projects. Ilford stands out as a commercial hub with great transport links, good schools, and diverse communities. It’s got a great buzz and ticks all the right boxes for many people.

If you invest in assets, you can rely on us. We’re one of the leading providers in London, able to provide guaranteed rent in Redbridge and other boroughs. With our help you can choose the ideal scheme for your properties, selecting a length of time to suit you. We ensure you get monthly payments without any interruptions. It couldn’t be easier, and we can provide other services too.

So, get in touch today and learn more about the benefits of guaranteed rent.