Sutton Council is working to regenerate the borough to create new housing, revive high streets, and boost the local economy. There are a number of plans at play here. As one of the top names for guaranteed rent in Sutton, we want to take a closer look at three recent ones. They could have a big impact, so are definitely worth keeping an eye on.

Elm Grove Regeneration

One project that took a big step forward recently was the redevelopment of the Elm Grove Estate. The council was successful in bidding for funding in 2021, securing £6.2m from the GLA. They also got support from current residents, with an overwhelmingly positive response to proposals to regenerate the area. In January the council approved plans for the makeover.

The current plan for the site is to create 279 new homes. Of these 131 would be for private sale. Plus, there would be 12 homes for returning homeowners on the estate. The remaining properties would be affordable. Of them, 57 would replace the social rent homes on the site and go to existing residents who want to return. Then there would be 62 homes for affordable rent and 17 for shared ownership.

The estimate is the regeneration will cost £15m over the next 30 years. However, that relies on work starting in the summer of 2024.

246-254 High Street

In the middle of February Sutton Council also announced their purchase of this high street building. The property has been empty for almost a decade and fallen into disrepair in that time. However, the authority began exploring the option to buy it towards the end of 2022. The deal will allow them to look at options to regenerate the building and an important corner of the high street.

The council released a statement saying they were glad to have the opportunity to redevelop an important heritage building. It will give them a chance to promote and celebrate the cultural offering in the area. In addition, they will be able to look at options to deliver spaces and services to benefit the growing local population.

St Nicholas Shopping Centre

A third project is a major plan to redevelop the shopping centre. The council purchased it in 2021, paying £27m. Since then there are plans to create 1,000 new homes, shops, restaurants and leisure facilities, and a library.

A new look area

These three projects could help to completely transform Sutton High Street. They would create more housing, including affordable and accessible homes. Plus it would regenerate the commercial space to make it a better area for locals and visitors to shop. Improvements to local services would be fantastic too. The combination could mean a really great future is in store for this part of the borough.

Do you want to try guaranteed rent in Sutton?

Guaranteeing your rent is a really good decision for many reasons. Firstly, it can protect your income so you don’t face losses or cash flow issues. That is great for your ROI and ensuring you can cover any costs. Secondly, the service is with the local council so you get plenty of benefits. They can include low vacancy rates, management, and more.

So, why not contact us and have a look at guaranteed rent in Sutton? It is an option that is very popular because it can save costs and provide fantastic guarantees.