Press release

Affordable housing developer Pocket Living is launching 30 one-bedroom discount apartments at Addiscombe Grove CR0 on 7th May 2022, which marks the first phase of its new community in East Croydon.

Available exclusively to first-time buyers either living or working in London, the apartments are priced at a 20% discount compared to the local market, with purchasers owning 100% of their property. 

The new homes sit within a striking 21-storey development designed by award-winning architecture practice Metropolitan Workshop. Design cues have been taken from the angled geometrics of the iconic NLA Tower nearby, with its windows forming a diagonal pattern, while reflective glazed tiles intensify light and shadow, creating a shimmer as the sun moves round its façade.

Inside the building, significant attention has been placed on the amenity spaces to create an environment that Pocket’s residents not only love to live in but enjoy socialising in with their neighbours too. To that end, residents have access to three outdoor gardens, including a landscaped communal roof terrace on the 9th floor, a 20th floor Nordic Garden and a Hidden Garden on the 21st floor, each offering unique views of the city. There are also a number of internal communal spaces, which include a workspace with Hyperoptic Wi-Fi, a Residents’ Lounge, and a Wellness Room which can be used for yoga and meditation sessions, or resident get-togethers. 

Latest research from Pocket Living, which surveyed over 1,000 of London’s younger generation of homeowners and renters on their attitudes to homeownership, found that more than a third of respondents (34%) now consider ‘community’ as particularly important when buying a home, with 27% also agreeing that amenity spaces are a priority. With this in mind, Addiscombe Grove seeks to foster a sense of community from the inside-out, with thoughtfully-created features such as the ‘Meet Me By The Tree’ installation providing residents with an easily accessible meeting point before heading out to work or socialising in the evening.

The one-bedroom Pocket home is designed to accommodate modern city makers’ lifestyles, maximising the feeling of space whilst creating a homely environment. It is divided into three separate rooms accessed from a hallway, which includes an open plan kitchen and living space, a double bedroom and a wet room with a large walk-in shower area. A dedicated utility cupboard in the hallway provides space for household storage, and the bedroom has a designated area to add creative storage.

Both the open plan kitchen and living space and the bedroom are enhanced spatially with high ceilings and large full height windows to maximise daylight.

Jenny Anson, Head of Sales at Pocket Living, comments: “If you look around Croydon, much of the new affordable housing currently available doesn’t allow for 100% ownership, which is restricting options for first-time buyers who want to get on the housing ladder in an area that they love. We’re especially committed to making 100% homeownership a reality for those who contribute economically, socially and culturally to the day-to-day life of the capital, which is why we offer a unique 100% ownership, 20% discount product. 

“At Pocket, we are all about creating thriving communities where our residents can feel at home the minute they get their keys, which is why we have placed such great care and attention on the design of our communal amenities. 

“To help inform which spaces we incorporated into Addiscombe Grove CR0, we surveyed our current Pocket residents who stated that exercise, social and co-working spaces were the most important to them. Whether residents want to chill out in the sun on one of the many roof terraces with friends, relax in our wellness room or just get some work done in our residents’ lounge, we cater for different lifestyles and wants and we can’t wait to see our future residents enjoying these spaces.”

Located just a four-minute walk from East Croydon Station, which has excellent links to London, Gatwick Airport and Brighton, there is also much to be enjoyed in the area itself. Surrey Street Market and arty vegan café Matthews Yard are just two of the culinary delights on offer. Box Park is also a popular destination for foodies or those looking for a fun day out and includes 80 refashioned shipping containers housing cafés, restaurants, bars and music venues. 

The area is also in the midst of a multi-billion-pound investment programme that is transforming the area into a hub of creativity, technology, culture and leisure. For a change of pace, the hilltop community of Crystal Palace is just a short train ride away, and has quirky independent shops, eclectic eateries and 360-degree views over central London and the Surrey countryside to enjoy.

Prices for the one-bedroom Pocket apartments start from £260,000. For more information visit www.pocketliving.com or call 020 7291 3683. 

In addition to the Pocket homes, as part of a joint venture between Pocket and housing association Optivo, 41 homes are also available through Shared Ownership.

ENDS

About Pocket Living 

Pocket Living is an innovative housing developer, supported by the Mayor of London and Homes England, delivering well-designed, sustainable and affordable homes for London’s first-time buyers.

Pocket is currently the only UK developer dedicated to building and selling grant-free affordable homes.

Established in 2005, Pocket sells one-bedroom homes to those on moderate incomes, people who are essential to London’s economy but who cannot afford to buy on the open market and earn too much to qualify for social housing.

Pocket homes are sold outright to buyers at a 20% discount to the local market. Purchasers must live or work in the local area and will own 100% of their property from day one. Buy-to let investors are excluded and Pocket leases ensure the homes remain affordable in perpetuity by asking Pocket owners to prove they are residents in their homes and are not sub-letting. 

For more information on Pocket homes visit www.pocketliving.com or Pocket’s YouTube channel: https://youtu.be/vaso1tUlxt4   

Twitter: @Pocket_Living 

Instagram: @pocketliving

For further information, please contact FTI Consulting:

Emily Smart – 07971 953 273 – emily.smart@fticonsulting.com

Millie James – 07970 606 303 – millie.james@fticonsulting.com