Castlemere Launches Airspace in Wimbledon

Posted by UK Property Forums on 30th August 2024 -

Castlemere Developments is committing more than £1.8m to a new five-apartment airspace development in Wimbledon Chase.

Airspace development describes a technique whereby unused space on the rooftops of existing buildings is converted into new homes using the latest construction techniques.

The Windsor-based property developer has already invested more than £400,000 to purchase Vision House, an art deco building locatedon Kingston Road.

The scheme at Vision House will feature one three-bedroom, two two-bedroom, and two one-bedroom apartments. Once on the market, they will cost from £385,000 to £650,000.

After completing the property purchase on August 23rd, work will commence on constructing the apartments. These will be built off-site using modern methods of construction (MMC). The project is expected to be completed by spring 2025.

This acquisition and plans for Vision House follow the completion of Castlemere Developments’ first completed airspace project in Tunbridge Wells, which has 11 apartments.

Castlemere Developments is in the process of securing several locations across the southeast, which will see the company provide a mix of airspace developments and ground-up properties.

The company has purposely committed to off-site MMC to deliver projects much quicker than onsite developments, reduce the disruption to current residents, and ensure its developments are as environmentally friendly as possible.

Kris Collett, managing director of Castlemere Developments, said: “Vision House is the latest addition to our portfolio which will feature five high spec apartments, which will include smart home technology.

“Vision House, which was originally an office block, has already undergone conversions to 19 apartments inside the original structure. It also has four commercial units on the ground floor.

“I expect to commence work on building the apartments in the autumn and for them to be lifted into place in the first quarter of 2025. The aim is to have the apartments on the market from spring 2025.”

He added: “This is a vibrant location, with access into London. We are aware there is a huge demand for residential properties and this is just one of a number of locations that we are developing to help meet this need.”