14Nov
New housing project permission sought
A new property project in south London has been submitted for
planning permission to Croydon council.
Over 1,000 homes - including some affordable properties for
first-time buyers - are included in the £500 million Cherry
Orchard project for the Croydon Gateway area.
Under the plan, several tall buildings are planned to be
constructed next to East Croydon rail station, with the homes being
accompanied by office space, shopping facilities and a public
square.
There would also be a link to the station with a transport
interchange built when Network Rail decides to upgrade the
station.
Such a project could provide opportunities for first-time buyers in
the area as well as possible buy-to-let investment prospects.
Croydon house prices are lower than London as a whole, with the
Land Registry figures for September stating that the average value
in the borough is £265,389.
