Airspace property developer, Castlemere Developers, has secured a prime London location for its next residential project and is set to deliver five one-bed airspace apartments at Nicholas Court in Grove Park.
The development, which will cost a total of £1.35million when complete, will replicate its current airspace schemes by using offsite construction methods before being lifted into place to complete the work.
The Nicholas Court scheme, which is currently a three-story apartment block, aims to deliver aspirational and affordable modular penthouse living, with the project predicted to be completed by early 2025 and 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 chooses off-site MMC so that it can deliver projects much quicker than on-site 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 currently in the process of the final stages of an 11-unit scheme in Tunbridge Wells, Kent, and has recently announced a £1.8million project to add five apartments at Vision House in Wimbledon Chase.
