Hello readers,

It feels like a little while since I have written an article about a significant new development in Medway, however one that I am excited to share with you is that plans for 500 homes on the former SGN gasworks near The Strand in Gillingham has been given the green light.

The developer, Blueberry Developments Estates Ltd, is now soon to start work on the scheme which, as well as 500 apartments across seven blocks, includes 140 retirement-living apartments of a 140 bed care home and 20,000 sq ft supermarket with 16,000 sq ft of commercial space and an SGN training office plus depot.

The application is hybrid, meaning that some has been granted full permission and some outline permission. This breaks down as:

What has full (detailed) permission

• New supermarket (Class E)
• Gas infrastructure facilities
• Site preparation works (demolition, remediation, access roads)

What is outline only

• Up to 500 residential units
• Later-living / care accommodation (140 beds)
• Public realm (shared outdoor spaces open to the public, such as streets, walkways, landscaped areas and seating)

You will spot that things like the size of apartments (one bed, two bed etc) are not yet finalised, so there will be some additional steps the developer needs to take, but let’s look at a general overview of the scheme which is another positive sign for Medway investors!

Also, if you’d like to take a look at the application yourself, you can locate it here.

The scheme is significant and here’s a CGI of what it is likely to look like when completed:

You can see the layout of the scheme, which has plenty of green space, here:

Here are some additional scheme images from the public consultation literature I have found:

Overall the scheme has been very much welcomed by locals and the council and with a target of an additional 24,540 homes by 2041, Medway Council needs to continue to take a positive view towards similar schemes to meet this.

One of the challenges Medway Council has is that it has historically failed to meet its annual target of 1,636 homes – for example, you will see from the graph below how there has been a shortfall every year right back to 2015/16 and over the past five years, only 4,915 out of 8,180 required homes have been delivered, giving a 40% shortfall.

The point for landlords to consider about this shortfall is how there will be continued strong demand, upward pressure on rents (as you will see below) due to the supply/demand imbalance and increased capital growth. It means that Medway continues to be a good area to invest for these reasons and I don’t see that changing any time soon.

Although legislation may be increasing, investing in property is still an excellent option for those looking to generate ongoing cashflow and reliable, consistent, ROI.

If you have any questions, I’d be more than happy to help! The best way to get in touch is by emailing hasan@home-share.co.uk.

Hasan,