Rochester Riverside £400m housing development reaches next major phase

An important milestone in the progress of the Rochester Riverside development has been reached.

It was recently announced that the planning application for the works has been registered with Medway Council. It’s the next big step after last March, when Countryside was awarded the £400 million contract to make the huge development happen.

The project’s total timescale spans 12 years, which shows the scale of what is being done. In all, 1,400 homes are being built, with a quarter of those to be deemed as affordable housing. Alongside those 1,400 homes, 13,000-square-feet of retail space will be included too.

There will be a new primary school and a nursery, as well as a pedestrian footbridge, allotted parking and around 10 acres of open space.

A new image has been released showing how Rochester Riverside is styled, and it’s interesting to see that the houses shown are architecturally similar to the ones nearing completion up at the Horsted Park development opposite Rochester Airport, a development which is also one of Countryside’s.

David Gannicott, business development director at Hyde – the housing association that is also involved in the project – highlights an important factor of the plans: “This is a great opportunity to help tackle the housing shortage in the south east and ultimately will provide more people with a roof over their head so they can make a home.”

So while there is a definite shortage of properties in the south east, particularly in the booming area that is Medway, it’s never been a better time for landlords and investors to help provide people with places to live. While Rochester Riverside will definitely help the shortage, it’s a long time before all of those homes will be completed.

As we have seen before, Medway’s population is expected to increase by nearly 30,000 people in the next ten years. And while house building as a whole is still continuing at a pace that is outstripped by demand, the current stock will need to be used in the best ways possible to create living spaces.

Quality HMOs are the perfect solution to provide homes to Medway’s growing population, making the most of properties that are suitable for being turned into house-share homes.

Related: Is Nelson Road in Gillingham a sleeping giant in the Medway property market?

And there is definitely a growing market for quality HMOs, such as one I have recently completed in Nelson Road, Gillingham, shown above – which you can see a full three-dimensional tour of here. Sometimes HMOs have been given a bad name, especially when done to a low standard – but as more professionals continue to reside in Medway, there is a growing appetite for this kind of property being done to a standard for which people will pay good money.

If it’s something you are interested in getting into, or want to expand your portfolio, it’s worth getting in touch. You can reach me at hasan@bullfinchproperties.co.uk, or by phone on 07944 726676.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s