Greenwich is part of London that is changing faster than almost every other area in the city. A lot of the work is taking place on the Peninsula. Former industrial sites and Brownfield land is being redeveloped to create housing, new amenities, and jobs. We want to have a closer look at one particular project here and the latest changes to the proposals. Then, if you want to arrange guaranteed rent in Greenwich, you can speak to us.

The site

There have been plans for the Enderby Place site for over a decade. It is in an interesting location on the west side of Greenwich Peninsula. There has already been a great deal of work in the area. This includes housing to the south. Proposals for Morden Wharf to the north have consent too.

One of the most crucial things here is this is part of London where there tends to be support for high rise buildings. The skyline has changed massively already with numerous tall buildings being built.

Plans

Earlier plans for the site got approval in 2015. This project was to create three towers ranging in height up to 32 storeys. These buildings would provide 477 homes, with 15.7% of them being affordable. There would have been some impressive investment properties and could have made more buyers consider guaranteed rent in Greenwich for assets. There would also be a two storey terminal and pontoon on the river for a cruise liner. Finally, there would be 198 parking spaces.

Criterion Capital bought the site in 2019 with the original planning permission in place. However, they chose to explore alternative proposals. Most notably, they would remove the cruise liner infrastructure from the proposal. It was a controversial part of the initial plan and was deemed to not be environmentally sound.

The new plans for the site were to create three towers taller towers with 564 homes. Crucially, 35% of them would be affordable. In addition, 63% of the site would be public realm. There would be a cafe and community space too. Overall, Criterion Capital thought they were delivering a new scheme that would be greener and more sustainable.

However, Greenwich Council has now said that the developer must scale back the tallest tower. The plans had chosen to increase the height to 35 storeys. However, the local authority wants to reduce it back to 33 storeys. A crucial factor here is there were fears from the Maritime Greenwich World Heritage Site and Greenwich Society that such a massive building would have a negative impact.

Criterion Capital has said they will rework the scheme to reduce the height. They still aim to deliver the same amount of housing though. Once the reworking is complete, Greenwich Council will have to decide whether to grant planning permission.

Talk to us about guaranteed rent in Greenwich

Savvy investors have been targeting Greenwich for many years. It remains one of the most important regeneration areas in London, with plenty of potential for new developments. These can be really great assets, especially as it improves and more people make the decision to move to the area.

If you decide to invest, you can get outstanding services from us. What we do is arrange guaranteed rent in Greenwich. It is an alternative for investors and landlords that can save clients time, effort, and money. Most notably, it means you get steady month by month payments even if properties don’t have tenants living in them.

So, if this sounds like something that would benefit you, please get in touch.