Pocket Living is an innovative small developer established in 2005 to deliver affordable homes for first time buyers in London on moderate incomes. These Londoners are essential to the city’s economy but cannot afford to buy a market home and earn too much for social housing. Of London’s many housing challenges, providing homes that its first time buyers can afford is important to the capital and country’s wellbeing, and Pocket Living offers a unique type of affordable home ownership that helps Londoners stay in their local areas, get a foot on the housing ladder and continue contributing to the local economy.
Bollo Lane is a landmark mixed use development in Ealing, comprising 112 homes, two communal roof terraces, two internal lounges and 25,000 sq ft of flexible office space. Built on a challenging site previously occupied by a redundant warehouse and bound on 3 sides by railway lines, it features 84 discounted affordable homes for local first time buyers.
The well-designed 38 sq m one bedroom Pocket home is discounted for outright sale and remains affordable in perpetuity. Pocket homes are sold at a 20% discount to local prices to eligible purchasers, defined by income and where they live or work, enabling purchasers to buy and stay in their community. Pocket homes are only sold to first time buyers, and an ‘annual verification process’ ensures that the purchaser remains resident.