Looking for a way to make homes more affordable, Marc Vlessing, a former banker and the chief executive of Pocket Living, a small developer, came up with a simple solution: make them smaller.
Pocket Living flats, which are built on small plots of land that Vlessing said most developers “wouldn’t get out of bed for”, are aimed at single renters priced out of the London property market, and are sold at a 20% discount to true market value – a condition for planning permission.
The company has built about 600 flats across London.
