Landsec completes affordable homes scheme in Westminster
Landsec has reached practical completion at their affordable homes site in the heart of Soho, providing much needed intermediate housing for workers in the local community. Dolphin Living, one of the of UK’s most innovative and forward-thinking providers of intermediate affordable housing, will now take control of the site having purchased the long leasehold last year.
The site is located at 118-122 Wardour Street in the City of Westminster, almost equidistant between Oxford Circus and Tottenham Court Road underground stations.
Landsec has completed a high quality refurbishment of the existing property to provide eight one bedroom homes for intermediate rent, contributing to Westminster’s affordable housing needs. Landsec purchased the buildings in June 2018 to fulfil its obligation to provide affordable housing for its office led development, Lucent.
Lucent is a new office and retail destination located behind the iconic Piccadilly Lights. It is the final phase of the Piccadilly Lights renovation and will create 140,000 sq ft of prime office and retail space across seven floors. Once complete, the building will also feature 20 outdoor balconies and terraces as well as a new rooftop restaurant.
David Heaford, Managing Director – Development, Landsec, said: “Through our development pipeline, we’re focused on creating inclusive spaces that make a positive contribution to the communities they serve. Thanks to our partnership with Dolphin Living we’re able to bring much needed affordable housing to the Westminster area as part of our Lucent development. This is the second affordable housing scheme we’ve created in the borough, both of which add significant value to the local community and the capital’s long term success.”
Olivia Harris, Chief Executive of Dolphin Living, said: “Partnering with Landsec has allowed us to create much-needed intermediate rental housing in the central London district of Soho, which is in short supply. There is significant demand for intermediate housing to rent and delivering inclusive and affordable spaces is crucial to attracting and retaining workers in high residential value areas.”