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New Affordable Home Scheme at Woodside Park in Barnet

Pocket Living has signed a build contract with HG Construction to deliver a scheme for 86 one-bedroom homes for first-time buyers at Woodside Park in Barnet, London, having completed an agreement with Transport for London for the site.

The deal is the culmination of several years of planning and managing technical hurdles associated with the site’s proximity to the railway track, including complex works to cable infrastructure.

Woodside Park N12 is located adjacent to Woodside Park Station in Barnet. The development will provide 86 Pocket one-bedroom homes across two separate buildings each rising to four storeys.

Everyone living at Woodside Park N12 will have access to two rooftop gardens with lush planting and allotment beds for residents to grow their own produce.

Woodside Park N12 will be sold to Barnet’s first-time buyers at a 20% discount to the local market.

Jonathan Cornelius, Head of Property Development at TfL, said: “We are pleased to have completed the agreement with Pocket Living on this site at Woodside Park, which will deliver 86 new affordable homes. This development plays an important part in tackling the housing crisis and delivering the new homes that the capital urgently needs, while also generating vital revenue to invest into London’s transport network.”

The deal between Pocket Living and TfL to provide new homeat Woodside Park is part of TfL’s wider commercial development programme, which will see thousands of high-quality new homes built on its land across the capital. Alongside the commitment to deliver 50 per cent affordable housing across the current portfolio, the programme will provide sustainable revenue to reinvest into public transport, reducing the organisation’s reliance on fares revenue.

To be eligible to purchase a Pocket home, the prospective buyer can’t already own another property, and must live or work in the borough of the respective development. All buyers must earn under the Mayor of London’s income threshold for affordable housing. When the homes are sold on, new purchasers must meet the original criteria and have a household income below the Mayor of London’s affordable housing threshold.

Buyers own 100% of their property, which are sold at a minimum of a 20% discount to the local market.