Award-winning developer Crest Nicholson has commenced works on its new £76m Totteridge Place scheme in Whetstone, Barnet. The developer has enjoyed a spate of post–Brexit Help to Buy sales successes at its Peckham and West Wickham sites, and has plans to transform Totteridge Place into a contemporary development that caters to first time buyers.
Totteridge Place will comprise 124 units, 19 of which will be affordable, and will include a mix of one, two, three bedroom apartments and three and four bedroom townhouses. With works already underway, first completions are expected in summer 2017 and the majority of the 1 and 2 bedroom apartments will be available on London Help to Buy. Located in London’s Zone 4, Totteridge Place is only six minutes from Totteridge & Whetstone Tube, allowing easy access to Central London in just 35 minutes.
Crest Nicholson has experienced a surge in interest from first time buyers since the Brexit referendum. The growth in this segment of the market is in part thanks to the success of the government’s popular Help to Buy scheme as well as continued demand from other potential buyers looking to get onto the property ladder. Crest Nicholson has reinforced its focus towards sites in outer London that offer first time buyers affordable home ownership options and strong transport links to the centre of the Capital. The announcement of Totteridge Place follows the recent launch of Dylon Works in Lower Sydenham, similarly targeted at first time buyers in outer London.
Ben Miller, Managing Director of Crest Nicholson’s Chiltern division, said: “We are pleased to announce the launch of Totteridge Place in Whetstone. The scheme will deliver a state-of-the-art development in one of greater London’s most sought after areas. In a post-Brexit market, with interest rates at an all-time low, now is an important time to be delivering much-needed affordable homes in an effort to support first time buyers in their quest to get onto the housing ladder. Following the successes enjoyed by Crest Nicholson at both Wood’s Road, Peckham, and Evoco, West Wickham, we are confident that the high-specification properties on offer at Totteridge Place will be a popular choice for buyers.”