Hackney probably had the biggest transformation in the last half a century. It was once an industrial spot, but fell on hard times and had problems with deprivation. Amazingly though, artists began flocking to the area to take advantage of cheaper spaces. It suddenly became one of the most popular spots in the city. It is a great place to invest, and we can arrange guaranteed rent in Hackney for many needs.

One of the coolest areas in the borough is Hackney Wick. It is trendy and vibrant, with plenty of bars and cafes. Close proximity to Queen Elizabeth Park, Here East, and various sporting amenities is fantastic too. More people will have the chance to live here in the future after London Legacy Development Corporation (LLDC) gave permission for a redevelopment. Let’s have a closer look at it and what it means for the area.

Transformation

The site of the redevelopment on Wallis Road is currently warehouses. They have an interesting history. Notably, they were the Clarnico Works Confectionery Factory from the late 19th century to the 1940s. More recently they have been home to artist studios and light storage.

There have been a number of plans for the site over the years. One from 2019 would have given 49 homes and over 2,000sq/m of commercial space. However, it did not secure planning approval, failing to get S106 permission. A second scheme from the same year, this time for 33 homes also failed to get permission.

However, the site will now finally get its transformation. A design by architects Morris+Company will create two new eight storey buildings. There will be 337 co-living units. There will be a courtyard, new public realm space, resident amenity space, and workspace. Both buildings will have roof gardens, with a bridge connecting them.

The new development will be great for the area. It will create new innovative space that combines housing and creative enterprise. Hopefully it could inspire further regenerations. We’ll be happy to arrange guaranteed rent for any landlords that need it too.

Conditions

The project got planning permission after securing S106 approval. As part of this, the developer will pay £3m to fund affordable housing elsewhere in the borough. This covers for the fact the project does not meet the obligation that every development include a percentage of affordable homes.

There was also a concern about a mural on one of the warehouses. It was done by French artist Thierry Noir. Demolishing the buildings will mean a loss of the art, but the developer has said they will replace it.

Do you want to arrange guaranteed rent in Hackney?

Investors that chose properties in Hackney a few decades ago have seen their assets grow in value several times over. In fact, the area has had the highest growth of any part of London because of the change in popularity. Today prices are very high, but people still want to live here. That creates plenty of demand and makes people keep wanting to invest.

If you decide to buy assets, we can give you a fantastic service. We excel at guaranteed rent, helping clients to arrange solutions all across London. A big part of this is we work with local councils so it is really easy to get rent guarantees and more. It can be much more rewarding than being a private landlord.

So, if you want to find out more about guaranteed rent in Hackney or other areas, you can speak to us. We’ll explain it to you, offering support and advice.