The London Borough of Lewisham has seen some of the capital’s highest rent rises in recent years, with the average monthly cost increasing by a huge 43% in the past five years*.
Helping to combat the sharp increases within one of the borough’s major regeneration areas of Catford is L&Q, announcing the launch of brand new one and two bedroom apartments through the Government’s London Living Rent (LLR) scheme at its Excalibur development.
Homes are offered at below market rent, allowing customers to save money each month to put towards a deposit. LLR also offers a secure tenancy with a minimum term of three years and maximum term of 10 years – which can be reassuring for customers in a fast-paced market.
Andrea Palmer, Head of Intermediate Rent at L&Q, comments;
“Catford is undergoing a huge transformation, which will make a significant difference to the local area and those living there. But, with change, often come sharp increases in rents, which could leave some residents feeling priced out of the area they know and love.
“The new LLR homes being delivered at Excalibur offer the opportunity for customers to save money each month on their rent and feel safe and secure in their tenancies. The development is not only a key part of the area’s history, but its future as well.”
Excalibur is the long-term regeneration of the Excalibur Estate, delivered by L&Q in partnership with Lewisham Council. The project has seen a neighbourhood of prefabricated 1940s bungalows transformed into approximately 390 new homes available through Shared Ownership, London Living Rent and affordable rent. The estate was first built in 1946 to meet housing needs during the post-war housing crisis and was originally designed to only last 10 years. The regeneration masterplan, by Hunters Architects, replaces the bungalows with houses and apartments featuring modern exteriors, clean lines, and smart brickwork, all set around communal landscaped grounds.
Alongside integrated appliances, helping residents keep bills low, Excalibur homes feature eco-friendly heating from an onsite district heating system, energy-efficient LED downlights, and dual flush plates in all bathrooms to conserve water. Additionally, every apartment has a private balcony or terrace and there is also parking available.
Vibrant Catford is currently undergoing a multi-million-pound regeneration programme, which includes the redevelopment of Catford Shopping Centre to create retail and community space for all. Food lovers will enjoy the variety of independent restaurants, along with pubs and bars ideal for lively evenings out. Additionally, Forest Memorial Park is only a short distance from Excalibur, giving valuable access to green spaces.
The homes are within walking distance of a number of local bus routes, including the 124 to nearby Catford Bridge and Catford rail stations in 14 and 16 minutes respectively. These stations offer speedy services direct to Central London, allowing commuters to reach London Bridge in just 10 minutes and London Blackfriars in 22 minutes. Hither Green station is also just a six-minute cycle**.
Rental prices for a one-bedroom apartment start from £1,024.94 PCM (minimum household income of £28,460 required based on a joint application), and two bedroom apartments from £1,138.82 PCM (minimum household income of £32,975 required based on a joint application). For those already in a position to take their first step onto the property ladder already, L&Q also has a select number of one bedroom apartments available to buy through Shared Ownership.
For more information and to register your interest, visit lqhomes.com/excalibur.
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