September 1st was a significant milestone for Newham Council and residents in the area. The ambitious plan to redevelop Carpenters Estate finally got underway with Phase 1 of a 12 year project beginning. It will mean big change for the area. We want to dive deeper into the plans here. Then, if you want to protect your interests with guaranteed rent in Newham, we can arrange it.
A turbulent history
The Carpenters Estate has a very turbulent history. Initially it was home to rows of Victorian terraces, providing housing for local factory workers. Extensive damage during WWII caused a massive problem in the area. Critics said homes were substandard, lacking key amenities and suffering from problems like damp. Additionally, the area itself wasn’t a great place to live due to smog from the factories and awful smells.
In the face of the poor living standards and serious issues, the council ultimately chose to demolish the estate and start again in 1966. The following year we got to see Carpenters Estate as we know it, including low rise housing and the three blocks.
While the council estate was an improvement over the previous housing, it was back in the spotlight again after the Millennium. Newham Council began exploring opportunities for redevelopment in 2001. Problems with maintenance and homes failing to meet modern standards ultimately meant the decision was made to redevelop.
The future
Plans to redevelop Carpenters Estate got massive backing from locals. There was overwhelming support for the resident-led masterplan to create over 2,300 new and refurbished homes on the site. Ultimately, it got planning approval and work on Phase 1 then began at the start of September. The project will be incredible for the area, delivering a new sustainable neighbourhood. If it encourages you to invest in local properties, you can speak to us about guaranteed rent in Newham.
The initial work on the project will involve the refurbishment of James Riley Point. The 23 storey tower is one of the three tall blocks on the site, so it needs updating. Crucially, the plan is for a sustainable retrofit of the building. This will create high quality, energy efficient homes. It will be significant for residents in the future, reducing their living costs and increasing standards. In addition, there will be a new sports/community centre.
One of the most interesting things about the James Riley Point refurbishment is it will become the largest property in London to achieve the EnerPHit standard. This is an international certificate from Passivhaus specifically for retrofitting. As a result, homes will be healthier, more sustainable, and efficient. It will benefit residents for generations.
There was a lot of excitement to see the project get underway. Rokhsana Fiaz, Mayor of Newham, said she was “pleased” that the work has started and “residents will see positive change happen”. Nick Clough, project director at Populo Living, said it’s “exciting” to start the innovative project to redevelop James Riley Point. It will also showcase the Council’s focus on “better regeneration” for the borough.
Find out more about guaranteed rent in Newham
Regeneration work can breathe new life into areas, putting them into the spotlight for various stakeholders. The project at Carpenters Estate will definitely appeal to many. It’s a great location, close to Queen Elizabeth Olympic Park as well as the amenities in Stratford.
If you invest, you should speak to us about guaranteed rent in Newham. We can provide it all across the borough. It’s a service that makes clear financial sense because it provides a set rent payment every month to ensure no risk of voids. You can contact us to learn more and weigh up the options to see if it will be beneficial for you.
