Crest Nicholson to transform Essex Brewery into mixed-use development
Crest Nicholson plans to transform a former Essex Brewery into a new 183-unit mixed-use development in Walthamstow.
Work on the development, which is located directly opposite St James Street overground station in Zone 3, is expected to start on site in the spring with the first units due for completion next summer.
The housebuilder says the development, which will see 95 per cent of the units available on the Help to Buy scheme, will comprise 158 private units, 25 shared ownership units and 479 sq m of flexible retail space that will suit a variety of retail and culinary ventures.
Trevor Selwyn, managing director Crest Nicholson, said: “We are pleased to kick off 2017 by announcing plans for the Essex Brewery in Walthamstow, situated in one of greater London’s first time buyer hotspots.
“With interest rates at an all-time low, now is an important time to support first time buyers by delivering much-needed affordable homes.
"For the coming year, our focus will remain towards sites in outer London that offer homes which fall within the London Help to Buy price bracket and have strong transport links to the centre of the capital. This focus follows the huge interest and fast sales we experienced at our Dylon Works, Sydenham and Wood’s Road, Peckham, developments.”
Metropolitan & Suburban obtained planning permission in April 2016, with the scheme designed by the Kalyvides Partnership. As part of the permission, the council was insistent on early delivery of the scheme and BNP Paribas Real Estate was appointed to market the site.
Rich Thomas, associate director of BNP Paribas Real Estate, said: “Despite the political and economic changes encountered in 2016 which undoubtedly created uncertainty in the residential development market, the deal at the Essex Brewery site reconfirms that interest remains for sites that have a strong story to tell.
"Essex Brewery benefits from excellent transport links, thoughtful design and is located in a part of London that is becoming increasingly popular for a wide range of prospective purchasers at affordable levels”.