Ilford landmark’s 300 home redevelopment plan reassessed due to Brexit
PUBLISHED: 12:17 21 July 2016 | UPDATED: 12:17 21 July 2016
The redevelopment of an Ilford landmark could be down scaled due to the Brexit vote, the Recorder can reveal.
Lumina, who are currently consulting on plans to redevelop the Harrison Gibson building in High Road, initially proposed 321 homes in a new 30 storey building.
But now project manager Guy Wickett has revealed they are reassessing their proposal due to the referendum result.
He said: “The Brexit outcome is causing increased uncertainty about residential values and sales volumes.”
“Consequently, the project team is currently reappraising the redevelopment proposal in the wider property market context.”
Mr Wickett explained that only after this test is complete the team will know the full details of the planning application.
Council leader Cllr Jas Athwal said he thought it was just a “blip”, and it would not affect the regeneration of Ilford.
He explained: “That was always my concern, that people didn’t really vote on Brexit they voted on immigration.
“Now we are finding out the consequences of being outside the single market.” The Labour leader said he thought the UK is a “resilient country”.
“We need to get business confidence back,” he added.
“It hasn’t been helped by the political uncertainty, but one thing that is not going away is the demand, there is still huge demand for housing whether we are in the European Union (EU) or not.”
Only last year it was announced that Ilford town centre was designated a housing zone, and more than 2,000 homes would be built by 2021.
The Recorder contacted two major developers – Meyer Bergman who are building flats in The Exchange and Sainsbury’s who plan to redevelop their Roden Street store – and both indicated Brexit had not affected them.
“It’s a blip as far as I’m concerned, Sainsbury’s is still on the table,” Cllr Athwal added.
The supermarket chain’s 700 home application will go before the Regulatory Committee on Wednesday.
Officers have recommended the plans be rejected as it only contains 4 per cent affordable housing, well below the recommendation for Ilford town centre of 30pc.
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