14 Nov

New housing project permission sought

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.

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