Pocket Living: 86 discounted new flats to be built for first-time buyers at Woodside Park in Barnet

In order to be eligible to buy one of the properties, there is some small print to consider.
Woodside Park in Barnet
Woodside Park in Barnet
Pocket Living
Becky Barnes15 December 2021

First-time buyers in north-west London earning “moderate” incomes will be able to purchase a new flat at a cut price in an “100 per cent affordable” home scheme set to be completed within the next two years.

Eighty-six one-bedroom homes are due to be built by developer Pocket Living at Woodside Park in Barnet by summer 2023.

The project has taken years of planning and complex works to cable infrastructure next to a train track needed to be completed before it could move forward, according to Pocket Living.

Transport for London has green-lit the affordable housing scheme, which will offer buyers a 20 per cent discount on the market rate for the area. Prices have not been announced yet but they will be estimated according to the prices of other one-beds in the area, Pocket Living said.

Nick Cuff, Pocket Living’s chief commercial officer, said: “This is exactly the kind of challenging small site which needs to come forward if we are to solve the housing crisis. Whilst there have been challenges along the way, the joint working between TfL and Pocket will now lead to the creation of 86 first time buyer homes for local residents of Barnet.”

“Pocket has always been at the heart of innovative collaborations in the housing sector and we believe new thinking and working in partnership with the public sector is crucial if we are serious about tackling the housing crisis. The delivery of this site demonstrates our commitment to this.”

The homes are only open to first-time buyers who don’t own another property. They must also already live and work in the borough of the development; in this case Barnet.

Potential buyers must earn under the Mayor of London’s household income threshold for affordable housing, or less than £90,000. When the homes are sold on, new buyers must meet the original criteria and have a household income below the Mayor of London’s affordable housing threshold.

Homes will be sold on at a minimum of a 20 per cent discount to the local market at the time of sale.

Woodside Park development by Pocket Living
Woodside Park development by Pocket Living
Pocket Living

Pocket is known for building space-saving homes, with mostly one-bedroom flats built to the minimum space standard compliant size of 38m sq.

The one-bedroom homes will be built across two five-storey buildings with rooftop gardens and allotment beds for residents to grow their own produce.

The housing development in north London is next to the Woodside Park Tube station, on the High Barnet branch of the Northern line, between West Finchley and Totteridge and Whetstone.

Jonathan Cornelius, head of property development at TfL, said: “This development plays an important part in tackling the housing crisis and delivering the new homes that the capital urgently needs, while also generating vital revenue to invest into London’s transport network.”

This deal is part of TfL’s wider commercial development programme, which sets out to build thousands of new homes built on its land across the capital with half intended to be affordable housing.

Buyers can register their interest via Pocket Living’s website.

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