We are delighted to have acquired two new sites to convert existing commercial buildings into high quality residential properties
Boutique developer Life Less Ordinary continues to grow its development portfolio with the acquisition of two new sites, with a combined GDV of £25m, in London and Surrey. The developer, a specialist in high quality office to residential conversions, plans to deliver over 70 new homes utilising permitted development rights and the further development of the airspace. All the properties will be available with Help to Buy.
Vale House is located in Reigate, Surrey, an area which suffers from a lack of new housing for first time buyers. Its conversion aims to deliver up to 46 one- and two-bedroom homes by reconfiguring the existing building, as well as a further six new homes by developing the airspace above. The development, spread across three floors, will also provide a range of communal facilities including extensive off-street parking, an architecturally designed entrance lobby and landscaped gardens to the front, whilst bringing much needed new homes to the area.
Located just moments from Reigate’s high street which is home to an abundance of independent shops, restaurants and bars, Vale House is also nearby to the green space of both Priory Park and the Castle Grounds. The National Trust’s Reigate Hill site is also just a short walk away, offering beautiful views across Surrey.
Alexander House in Ruislip has also been acquired with the help of ADS Real Estate Advisors. The site, which will retain 2,000 sq ft of commercial space on the ground floor, has prior approval for 23 one-bedroom apartments but will shortly undergo a minor material amendment in planning before construction begins. This is the fifth site in the wider Ruislip area that Life Less Ordinary has acquired in the last three years, with nearly 160 new homes already delivered or in construction at the existing four sites.
Located just a two-minute walk from Ruislip Manor tube station in Zone 5 of London, the Piccadilly and Metropolitan lines provide journeys to Heathrow and Baker Street in just 25 and 28 minutes. The wider Ruislip area is home to an eclectic mix of cafes, restaurants and charming pubs, and enjoys an abundance of open green space including Ruislip Lido, a 60-acre lake with its own sandy beach, and Colne Valley Regional Park.
Both schemes will benefit from a high level of contemporary design and generous specifications, synonymous with all Life Less Ordinary developments. Construction will commence over the next few weeks with completion expected in the Summer of 2021 for both developments.
Hinesh Chawda, Director at Life Less Ordinary, said: “We are delighted to have acquired Alexander House and Vale House, both of which are exceptionally well located allowing us to provide much needed new apartments for first time buyers.
“Both acquisitions are further testament to our business model of undertaking successful office to residential conversions to deliver functional, high-quality new homes for first time buyers, and reflect great confidence in our team, our end product and our approach to development.”
Anthony Sidoli, Director at ADS Real Estate, added: “We’ve been working with the team at Life Less Ordinary for some time, and were delighted to acquire Alexander House on their behalf.
“Their successful track record of office to residential developments in the local area, which is undergoing significant improvement, means they are best placed to respond to the continued appetite for new homes in Ruislip.”
For more information on either scheme contact our team at [email protected]