Optimising the sales strategy enables key regeneration project
Cluttons was appointed in 2014 by charity housing association Network Homes to provide valuation and consultancy advice and support them in a decision on the financial viability of regenerating and redeveloping a 1960’s estate in Brixton.
The scheme was part of Network Homes’ £200 million regeneration commitment into the Stockwell Park Estate.
For the new scheme, the plan was for five new blocks of flats and houses providing a total of 177 units, along with commercial premises, a community centre, and retail on the ground floor.
To be able to demolish and start from scratch the scheme had to be commercially viable and some private housing was essential. Our financial assessment of the scheme led to us developing a sales valuation for the development of 96 private and shared ownership flats.
Demolition and new building work began in 2017. We then prepared an optimised sales and pricing strategy that successfully resulted in the sale of all units at asking price during 2021 within just 16 months of completion and against the backdrop of the Covid-19 pandemic.