Airspace property developers Castlemere Developers have secured a prime London location for its next residential project.
The Windsor-based company is to build five one-bedroom airspace apartments at Nicholas Court, Burnt Ash Hill, in Grove Park, London.
The development, which will cost a total of £1.35m when complete, will replicate its current airspace schemes by using offsite construction methods before being lifted into place to complete the work.
Nicholas Court, which is a three-story apartment block, will deliver aspirational and affordable modular penthouse living. The project is expected to be completed by early 2025, with the apartments expected to be on the market for around £260,000 - £270,000 each.
Kris Collett, managing director of Castlemere Developments, said: “We have exchanged contracts on securing Nicholas Court and will be delivering properties that are focused on being starter homes and that appeal to first time buyers.
“The price of these one-bedroom apartments is going to be very reasonable based on the London property market.
“There is a huge demand for residential properties and we will continue to source suitable locations that we can develop to help meet this need.”
Nicholas Court will be built off-site as Castlemere Developments purposely choses off-site MMC so that it can deliver projects much quicker than onsite developments, reduce the disruption to current residents, and ensure its developments are as environmentally friendly as possible.
Collett added: “We have chosen to adopt MMC best practices as it is more cost effective, quicker and also we believe that building airspace apartments offsite is less complex.”
This development adds to Castlemere Development’s growing airspace portfolio across London and the south east.
It is in the process of the final stages of an 11-unit scheme in Tunbridge Wells, Kent, and has recently announced a £1.8m project to add five apartments at Vision House in Wimbledon Chase.
