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New homes planned for Walthamstowe site

Mayor of London Boris Johnson has approved controversial plans for the delivery of new homes on the site of the iconic Walthamstowe greyhound track in central London.

He stated: "I share the sadness of many about the demise of dog racing from this historic corner of London.

"However, I believe this proposal will provide a major boost for Walthamstow, creating new jobs and new homes, many of which will be affordable and attract desperately needed new investment into the area."

The project will see the creation of more than 290 new residential properties, a nursery, allotments and green spaces at the famous site.

Following the mayor's announcement, a number of contractors have emerged as frontrunners for the scheme, including Allenbuild, Ardmore, Countryside Properties, Denne, Durkan, GallifordTry, Higgins, Hill Partnerships, Mace and Rydon.

However, the project continues to face strong opposition from campaigners and a number of high-profile lobbyists, including local Conservative MP Iain Duncan Smith.

It will mark the end of an era for one of the area's most iconic buildings - the Walthamstowe dog track - but planners are optimistic that once works are completed the sympathetic regeneration of the area will leave local residents with an array of new buildings and architecture they can be proud of.

The news follows recent comments from Michael Keogh, senior investment and economic analyst at Henderson Global Investors, who told attendees of a recent Property Week webinar that investors continue to focus on central and fringe London at present.

He noted: "We are in year two or three of what could be a five or ten-year recovery in some areas of the market."

As such, the capital continues to be a magnet for investment when other areas of the country are witnessing declines in the amount of new projects being undertaken. 

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