Soho Housing has agreed a deal with Grosvenor to acquire 11 affordable homes being delivered as part of the developer’s 370,000 sq ft mixed-use South Molton project in London’s West End.
Soho Housing will own and operate the four one-bedroom, five two-bedroom and two three-bedroom flats on their completion in 2025. Seven of the homes will be provided at London affordable rents (social rent) and four at London living rent (affordable rent).
The new affordable homes will be delivered alongside 22 additional private homes as part of a major refurbishment of the 18th century terraced properties on South Molton Street and will be located above 18 retail and food and beverage units.
Each home will be all-electric with heating supplied through an air source heat pump network and renewable energy generated from onsite rooftop PV arrays.
Simon Armstrong, development director at Grosvenor, said: “From the outset, our ambition for South Molton has been to take an under-utilised and unloved area and transform it into a true community. That meant South Molton needed to serve a broad range of needs, including the delivery of onsite affordable housing.
“Confirming Soho Housing as the owner and manager of the affordable housing is an important milestone for us as we bring South Molton forward. These new homes will retain their architectural heritage, whilst also being highly energy efficient, ensuring residents benefit from warm comfortable homes that require less energy to heat.”
Barbara Brownlee, chief executive of Soho Housing, added: “It is great to be partnering with Grosvenor on this important, sustainable, mixed-use development. The properties joining our portfolio speak to the core of Soho Housing’s mission since the 1970s: to provide affordable homes that allow people to live in the heart of London.
“We’re delighted to be working with an enlightened developer like Grosvenor who shares our vision of creating sustainable urban communities that work for all.”
