A significant site in North Cheam could finally have good news after 20 years of redevelopment hell. It could open the door for new homes. Even better, it could help to complete the area and make it more attractive. Let’s have a closer look, then if you need help with guaranteed rent in Sutton, we have the perfect services for you.
The site
North Cheam crossroads has become notorious for a site that has been unoccupied for twenty years. Some refer to it as an “eyesore”, while others say it makes the area feel like a “war zone”.
The plot was previously home to Victoria House. The 1960s modernist block had a row of commercial units on the ground floor, with flats above. However, it became the focus of redevelopment proposals in the 2000s. Redevelopment plans from 2006 actually got planning permission, but did not proceed.
A second plan then got planning permission in 2013. However, this also did not come to fruition. The owners at the time, Stonegate Homes, actually made the decision to sell the land with the approval to redevelop it. New owners Home Group Ltd began negotiating the redevelopment in 2014, beginning a long back and forth of proposals, withdrawn plans, new revisions, and even more negotiations. All the while, the property was becoming dilapidated and drawing the ire of locals. Speak to us about investments and guaranteed rent in Sutton.
Ultimately, there was a lot of pressure on Home Group Ltd to secure the site and take action. Victoria House was demolished in 2021, hopefully paving the way for redevelopment. Plans got planning permission in 2023, but yet again they did not proceed. Rising construction costs were a barrier the developer was unable to overcome.
New plans
Now in the hands of new owners, there is optimism the redevelopment could finally happen. Fancourt Group is working with Sutton Council to move forward with the project. The newest plans are for a six storey building (shorter than previous proposals for 10, 8 and 7 storeys). It will contain 74 homes. The local authority is hoping to ensure a third of them will be affordable.
The big hope is the project will finally complete this key part of North Cheam. It will mean the hoarding can finally come down and bring new life to the area. Plus, it has the potential to create new commercial space on the ground floor and will fit in with the rest of the high street. There is plenty of optimism, but after 20 years of development issues, there will be concerns until the construction is complete.
Discover the benefits of guaranteed rent in Sutton
Sutton often finds itself on lists of the best places to live in London. It has a lot to offer, such as fantastic schools, a suburban setting, greenery, and some of the most affordable homes in the capital. Additionally, it is just 30 minutes from the centre of the city. There are plenty of great spots, including North Cheam, Carshalton, and Belmont.
If you decide to invest in properties, we are the perfect team to arrange guaranteed rent in Sutton and other areas. We’ve been guaranteeing rent for clients for years, building relationships with councils all across London. So, we can give you advice and explain how you benefit. Get in touch today to learn more, and then if you want to proceed, we can do the rest.
