26
May
London property scheme moves a step forward
The amount of property for sale in London will rise once a
regeneration scheme in the east of the city is completed.
In a new development, Wates Living Space has secured contracts to
work on the Ocean Estate.
It will engage in two schemes, one of which will cost £38
million and will involve homes being refurbished.
The second, totalling £47 million, will see the company engage
in a new-build programme.
As a result of the agreement between Wates and the East Thames
Group - which is a housing association responsible for the
management of more than 13,500 properties in the area - 467 new
residences will be constructed.
Commenting on the project, business unit director at Wates Simon
Underwood said: "We look forward to continuing to work with the
East Thames Consortium not just to deliver improved homes but to
bring lasting community benefits investing in local people and
local businesses."
