Question: Can you name the area in green?
Answer: Ebbsfleet Valley.
Although not within London and therefore under our remit here at London Residential Research, it arguably does have significance to the our market as it takes just 19 minutes to commute in to St Pancras on the High Speed line.
Welcoming news came today as Grant Shapps struck a deal to relax part of the section 106 agreement so that development could hopefully kick start on the first 1,500 homes. In all 22,500 units are planned along with office, retail and the like. (full EGi story
I have to say the amendment to the S106 makes a lot of sense. Developer Land Securities
has already invested £100m preparing the site; a former quarry and being the largest REIT in the country would have surely started if the scheme was viable. A slight shortfall or delay in S106 income for the local government will surely be rewarded by an uplift in the local economy. Which begs the question; why has it taken so long?
Here's what the scheme will look like when complete, admittedly a long way off. Picture from Land Securities