House builder Acquires Prime Site in Tooting

Award-winning house builder Crest Nicholson has acquired a new site on Tooting High Street. The scheme, 181-207 Tooting High Street, SW17, will be delivered by Crest Nicholson London and, when complete, will comprise 111 studio, one and two-bedroom apartments and 22,738 sq ft of retail floor space in a prime location within immediate proximity of St George’s Hospital.

Trevor Selwyn, Managing Director, Crest Nicholson London, commented: “We are delighted to have secured our first site in Tooting. As part of our on-going expansion across London, we have actively been looking for sites in emerging, up-and-coming areas and this particular location fits the bill perfectly. The area is set to be a real property hotspot as buyers priced out of neighbouring Balham and Clapham look for quality homes in an affordable area providing good transportation links into central London without purchasers having the cost of living in zone 1 and 2.

“The apartments will set a new standard for developments in the area, offering the level of specification buyers would normally expect from homes in more established locations without increasing prices beyond the reach of local purchasers. The apartments will be available on the government-backed Help to Buy scheme and are likely to attract a variety of purchasers including first time buyers, parents looking for an investment or helping their children with the deposit for their first home and both domestic and overseas buy-to-let investors.”

The development on Tooting High Street is Crest Nicholson’s second development in Wandsworth and is the latest in its long history of developing in and around the capital. The scheme comprises 83 private units and 28 affordable units, many with private outdoor space and some with spacious terraces, along with 22,738 sq ft of retail space split across two buildings.

The apartments will be built to a similar specification to the company’s recent Resonate development in Stockwell which sold out within four months of coming onto the market. Crest Nicholson London’s in house architect, Senior Design Manager, Nick Beard RIBA, has reconfigured the internal layouts in order to maximise living areas. High specification finishes will include composite stone kitchen work surfaces and integrated appliances to create apartments that will appeal to a variety of potential purchasers.

The development will include 83 off street parking spaces, communal landscaped gardens and bicycle storage areas.

Apartments will be available on the government-backed Help to Buy scheme available to both first time buyers and second steppers. Work on the development will commence in September. The apartments will launch for sale in spring 2014 with first completions due in spring 2015.

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