Pocket Living has submitted plans for a 21-storey residential tower in Croydon.
The scheme will provide 112 “pocket” homes, sold at a 20% discount to local first-time buyers, as well as 41 private homes.
The site on Addiscombe Road lies a short distance from East Croydon station, and was acquired for £6.95m in February on an unconditional basis, the first of such land acquisition deals with the backing of Related, which acquired 50% of Pocket in 2016.
Pocket land director Nick Cuff said: “This site marks an exciting new stage for Pocket. We are now in a position to secure large unconditional land deals, thanks to the support we have received from Related and the GLA. We hope to see similar large-scale Pocket developments taking shape across London so we can help even more first-time buyers to realise their dream of owning their own home.”
Pocket has more than 13,000 people registered as interested applicants for their homes. Approximately 95 people have already registered an interest in the Croydon scheme, prior to the submission of the planning application.
The site has seen a dramatic rise in the proposed density over recent years, with multiple applications put forward. A seven-storey office building of 40,000 sq ft was approved in 2012 from Berwick Hill Properties. Developer Oakwood received consent in 2016 for a 12-storey residential building providing 74 homes.
Councillor Alison Butler, cabinet member for homes, regeneration and planning, said: “Croydon Council welcomes any developers who propose to increase the number of affordable homes available for local people and, subject to planning permission being granted, we look forward to working with Pocket Living.”
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