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Crest Nicholson launches new £116m Dylon Works in Sydenham, following Help to Buy success post-Brexit

Award-winning developer Crest Nicholson is set to launch its new £116 million Dylon Works scheme in Lower Sydenham, London, this November. Dylon Works will see the site of the former DYLON textiles dyeing factory transformed into a modern, fit-for-purpose mixed–use development targeted at first time buyers. It will comprise 223 private residential apartments, retail space, a café and a crèche accommodating up to 80 children.

Located in London’s Zone 3, the £116m development marks a transition in focus from the central London locations previously favoured by the developer. The impetus behind the shift comes in light of the ongoing success being enjoyed by the developer at its Wood’s Road, Peckham, and Evoco, West Wickham, developments. These sites have enjoyed continued demand from first time buyers since the Brexit referendum, with properties moving fast as part of London Help to Buy. Since its launch in late July 2016, 28 units at Wood’s Road were sold in the first 12 weeks, with 100% of properties sold to first time buyers. At the now sold-out Evoco, 95% of the apartments have been sold on Help to Buy London to first time buyers.

Dylon Works will see 221 of the 223 units available as part of the popular initiative aimed at supporting first time buyers get on the property ladder.  Prices will start at £227,997 for a one-bedroom apartment with Help to Buy. The development benefits from excellent connectivity to central London and is just 16 minutes by train to London Bridge from Lower Sydenham railway station. Spread over eight storeys, with a staggered roofscape to ensure all apartments benefit from great city views, all properties will benefit from private balconies or terraces.

Trevor Selwyn, Managing Director at Crest Nicholson London said: “In a post-Brexit market we have experienced continued demand, particularly from first time buyers. As the fundamentals of the housing market remain unaffected by the UK voting to leave the UK, and with early indications showing that buyers are still keen to buy, we have shifted our focus to best serve this ever-growing section of the market.

“Frequently cited as one of London’s up-and-coming areas, we are very pleased to bring our state-of-the-art Dylon Works development to Sydenham. Delivering modern, affordable, fit-for-purpose housing has never been more important and we look forward to bringing a large volume of properties to the first time buyer market in Sydenham.”

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