The Myatts Field North Regeneration is a major redevelopment project in Lambeth that will deliver 808 new homes to the district and will also see the refurbishment of 172 existing properties.
The project was withdrawn earlier this year but was recently resubmitted and approved after a value for money review by the Government. Lambeth Council (Town Hall, Brixton Hill, SW2 1RW) has secured £98 million of private finance initiative (PFI) credits from the government to support the scheme.
Conveyancing Solicitors in Lambeth have shown great support for the project as it will not only provide opportunities for buyers looking to purchase homes in the area, but will also boost the surrounding economy and be beneficial for current homeowners.
The following improvements will be carried out under the project, and construction will be completed within five years:
- Building of 305 new homes to replace those that are currently in a very poor condition
- Redevelopment of 172 existing homes
- Construction of 146 new affordable homes
- Construction of 357 new homes for sale
- Creation of new streets, green spaces and play areas
- New landscaped neighbourhood park
- New community centre for local residents and homeowners
- Development of energy plant to provide more reliable and efficient heating and hot water and substantially reduce the carbon footprint of the homes
- Refurbishment of commercial units and local store
Advice from Conveyancing Solicitors in Lambeth
Investing in a property within an area that is currently being regenerated can result in significant financial returns for homeowners, however, a successful sale or purchase requires proper research to be carried out. The local authority district and Conveyancing Solicitors in Lambeth are invaluable sources of information and can assist you in making the right choices.
While redevelopment provides long-term benefits and gains, construction works and noise levels can be disruptive in the interim. Local Conveyancing Solicitors in Lambeth can assist you in identifying areas that are currently being developed and liaising closely with contractors and developers to find out how you will be affected.
For more information, contact us on 0330 660 0286. You can also obtain a Cheap Lambeth Conveyancing Quote online to assist you in budgeting for your home move.