EasyProperty has a target of becoming the “number-one property services company in the country” and Inspired is quickly becoming the go-to company for first-time buyers. Therefore, it only seems fitting that the two join forces on Inspired’s recent £25 million purchase of Impact House in Croydon.
Since launching its residential sales offer in August, the easyProperty website has listed just shy of 2000 properties. In addition, Impact House is easyProperty’s largest to date, with 197 units on offer starting at £293,950, which is significantly below the market average price for a London flat of £459,004.
The 123,265 sq ft, 16-storey office T-shaped building was acquired by Inspired Assets as part of its ongoing strategy of converting redundant office space in commuter belt locations into quality specification apartments and penthouses suitable for first time buyers.
Each apartment will boast features that include 1Gb broadband, NEST ‘smart thermostat’ technology, bright open plan and ‘hallway free’ layouts with engineered hardwood flooring, granite kitchen worktops with Bosch appliances, and marble bathrooms with Hans Grohe taps.
CEO of easyProperty Rob Ellice says: “Impact House offers affordable luxury for first-time buyers, and is a great example of delivering high-specification high-quality interiors while still offering value for money in an up-and-coming area of London, and is primed to become one of the in-demand residential developments in Croydon.
“Such a large residential development as this also marks an exciting turning point for the online estate agency market, as it is the first time a development of this scale has sat exclusively with an online agency.”
The new £1.5billion Westfield development, due for completion in 2019, is expected to have a significant impact on Croydon home values. The year that White City’s Westfield opened shop saw property prices in Hammersmith & Fulham increase by 12.8 per cent – compared to the London average of 3.1 per cent in the same year.3
Further research also indicates that average home values in the area have soared 47 per cent in the seven years since. A similar effect has also been experienced in Newham, with properties in proximity to Stratford Westfield uplifted by 45 per cent, making Croydon and Impact House a very attractive prospect for current buyers.