Brick By Brick has agreed the sale of 165 homes to Croydon Council
We’re delighted to announce that Brick By Brick has agreed the sale of 165 homes to Croydon Council as part of the council’s ongoing street property purchase programme. These homes will be let at council rent levels to those in need on the council housing waiting list or to move residents out of emergency or temporary accommodation.
With over 5,700 people on the housing waiting list, and over 2,200 living in temporary accommodation at a cost of over £27m per annum, this purchase enables a very significant saving to the council on wider housing costs as well as providing security and stability for many Croydon families.
In addition, as shareholder and funder of Brick By Brick the council recovers additional value from our projects in the form of company dividend, interest rate returns and/or land value, rather than this return being lost to another developer, land owner or bank. This retained value can then be reinvested in the borough.
The homes are spread throughout the borough and include a mix of apartments and houses, all designed by award-winning architects:
Auckland Rise & Sylvan Hill, Upper Norwood, HTA Design, apartments
Montpelier Road, Purley, Mae, apartments
Northbrook Road, Selhurst, Stitch, apartments
Thorneloe Gardens, South Croydon, Turner Works, apartments
Chertsey Crescent, New Addington, Coffey Architects, houses
Tollers, Coulsdon, Mae Architects, houses and apartments
Tollgate, Woodside, HTA Design, apartments and houses
Warbank Crescent, New Addington, Coffey Architects, apartments
These 165 homes are in addition to the 62 other homes we have provided to the council to address affordable housing needs, including 3 homes at our Flora Court development, 53 apartments at our Longheath Gardens development and 10 apartments at our Windmill Place development.
Meanwhile, our open market sales have also been progressing apace and we have now fully reserved three schemes, with more than half of our available market units sold or reserved.