Park Heights in Stockwell: another huge private luxury development

[editor]

Offering no less than 75 one and two bedroom apartments starting at £625k and zipping smartly up to over three quarters of a million, Park Heights is that freaking huge building looming over Stockwell.

The developers are keen to promote its potential as a lovely second home or as a tasty buy-to-let earner:

Come and visit the team soon to reserve a property at Park Heights before the stamp duty increase takes effect on 1st April 2016. If you are looking to purchase a buy-to-let or second home, you have two months left to make your reservation before the increase will impact your purchase (estimated completion is March 2016). Park Heights’ apartments are estimated to generate an average of 4.4% rental yield* providing a healthy return for a London investment.

I'm not sure if the area can take much more luxury


Park Heights - Blog

 

[salem]

God he looks smug

 

[Angellic]

They're advertising the flats on the bus stops along Brixton Rd.

 

[Winot]

God he looks smug

He's got no cause to - his suit doesn't fit at the shoulder and he's showing no cuff. Man needs a new tailor.

 

[ChrisSouth]

On a positive note, the new Brixton Cycles shop will have loads more customers. Every Park Heights has a silver lining.

 

[editor]

On a positive note, the new Brixton Cycles shop will have loads more customers. Every Park Heights has a silver lining.

Not sure the assembled buy-to-letters and second home owners at Park Heights will be troubling Brixton Cycles much, but the co-op does have to thank the extra hideous private development next to their old shop for pushing them into their new shop (which I do think is much nicer).

 

[cuppa tee]

This building is of course the new incarnation of the former Wayland House, I wonder how many of the previous residents will be returning

 

[cuppa tee]

He's got no cause to - his suit doesn't fit at the shoulder and he's showing no cuff. Man needs a new tailor.

tbf it's probably Park Heights or their pr company who need to find a new stylist, you could be in with a shout Winot

 

[snowy_again]

Bless him and his ill fitting shirt, he's just a stock model though isn't he? Probably doesn't even know he's being used to promote investment flats. Their page seems to suggest 75% of it is already sold - which I guess would imply overseas investors?

 

[editor]

Bless him and his ill fitting shirt, he's just a stock model though isn't he? Probably doesn't even know he's being used to promote investment flats. Their page seems to suggest 75% of it is already sold - which I guess would imply overseas investors?

They certainly targeted the development at those kind of investors, so no doubt it will play a part in keeping property prices overheating in London with the knock on effect that the poor keeping getting pushed out further and further.

 

[irf520]

Hang on ... 4.4% rental yield on 625k. That means 27.5k a year, or nearly £2300 a month to rent a 1 bed flat WTF?!

 

[Tricky Skills]

The smug chap reminds me of a certain local chancer that is very big on talking about community engagement bollocks, but not so good at delivering. The fella I'm thinking of always look smug as well. Think he made his pile out of property development. Forget his name.

 

[DJWrongspeed]

Hang on ... 4.4% rental yield on 625k. That means 27.5k a year, or nearly £2300 a month to rent a 1 bed flat WTF?!

It might be based on the idea that the flat is gaining in value, £2300 is indeed very excessive.

the word "Park" needs a bit of elaboration as locals will understand
the park's turf is more associated with "turf" wars if we're talkin Slade Gardens.

 

[ViolentPanda]

Hang on ... 4.4% rental yield on 625k. That means 27.5k a year, or nearly £2300 a month to rent a 1 bed flat WTF?!

Lambeth have - for the purposes of making Cressingham Gardens residents chuckle ruefully, I suspect - priced the market rental flats they propose to develop here similarly.