Prestolite Deal On The Horizon?
Planning committee approves new plans for old factory building
A Hammersmith & Fulham Council planning committee has approved new plans for the old Prestolite building, on Larden Road, Shepherds Bush, that may be acceptable to both the Mayor of London and residents.
The new plans meet the mayor’s desire to have more low rent affordable homes but will also allow more local people to get on the housing ladder.
The revised scheme includes an innovative new Inclusive Living scheme which will entitle anybody who is renting their home to a stake equivalent to 3 per cent of the equity of their home and the opportunity to buy further stakes up to 9 per cent. The intention is to give more households the opportunity to be able to buy their home on a shared ownership basis.
H&F Council Leader Stephen Greenhalgh, says, “We are not interested in crude percentages – we want to do a deal that would provide residents with an opportunity to own a stake in their home. Residents want to see this derelict shell developed.”
The news comes after more than 8 out of 10 residents announced their backing of the council’s stance.
Local resident Sean Kneale, who lives on Larden Road, asked 294 of his neighbours what they thought about the plans. 86 per cent of people surveyed wanted the scheme approved as it was, 9 per cent of people wanted fewer rented homes in the scheme and only 2 per cent – or five people – wanted more rented homes in the scheme.
Sean says, “Residents are concerned about the way things are developing at present. Taking Prestolite (453 units), Bromyard Avenue (604 units), the Home Office land nearby (284 units) and the former Somerfield site in the Vale (170 units), there will be more than 1,500 new dwelling in the area over the next two years.”
All 104 rental properties will receive a 3 per cent equity share after three years with the option to buy a larger stake.
The plans will now go before the Mayor of London for final approval.
February 15, 2007