Holloway prison to make way for 1,000 New Homes

March 11, 2019

A deal in the region of £81.5 million with the housing association Peabody will see Holloway Prison, that is in the location of north London, being turned in to 1,000 homes. The site totals 10 acres and is famous for having held as inmates Myra Hindley and Rose West.

It is hoped that 600 homes will be “genuinely affordable” – The site also offering shops, green spaces and play areas.

Peabody housing association has received a £41.6 million load from City Hall in order to acquire the property from the Ministry of Justice –  new properties will be built in partnership with house builder London Square.

This development lays within the constituency of Labour leader and Mr Are we going to push for remain in the EU, or Out of it or Shake it all about, Jeremy Corbyn. He has said that the deal, what ever part he has over seen or been part of etc, is a good one for the local community.

Prisons Minister Rory Stewart was reported as saying: “The sale of Holloway will help drive forward our commitment to replace ageing prisons with modern, purpose-built establishments.

I am determined to see this money reinvested to improve rehabilitation and ultimately reduce re-offending.

We have worked closely with the local authority and others to ensure the amount of affordable housing on the site meets local needs, and I am pleased we have achieved this aim while giving good value to taxpayers.”

Full story released on the Peabody official website.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Breaking News

Freehold and Leasehold Reform Act-lessees can control their own destiny

Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 22/11/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More →
Estate Agent Talk

The Architecture Of Attention Behind Social Media Addiction

In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology.  These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More →
Breaking News

2025 Predictions for the Private Rental Sector

Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More →
Breaking News

Response to Matthew Pennycook’s Statement on Leasehold Reform

Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More →
Estate Agent Talk

Essential Garage Storage Solutions for Small Spaces

Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1.  Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More →