Dolphin Living has exchanged contracts with Moxon Street Residential for the purchase of the long leasehold of 25 affordable homes at Marylebone Square, W1.
The homes are located on the site of the former Moxon Street carpark – the last entire city block in the W1 postcode to be developed. They will be available to rent from £180 per week and are exclusively available to those who live or work in the borough.
Planning permission was granted in 2016 and basement and superstructure construction has now been completed. Practical completion is anticipated in Q3 2023. Concord London is acting as development manager.
Marylebone Square is being delivered by Kier and designed by E8 Architecture. The site also includes commercial units at street level.
Olivia Harris, chief executive at Dolphin Living, said: “The pandemic, followed by the cost-of-living crisis, has left many of London’s workers struggling to afford to live within a reasonable commute of their workplace. Rents are rising more quickly than wages and families are preparing for higher-than-ever energy bills this winter.
“We must not sit by while those who kept the city running throughout the pandemic are left struggling. It is our turn to support them by tackling the root issue and providing genuinely affordable homes in the centre of the city.”
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