It’s a positive sign for investors when new developments are planned because they point towards strong potential and future growth.
Medway certainly has its fair share and we thought we'd kick off this week’s article by updating you on progress of the development at Mountbatten House in Chatham, as the regeneration powers forward with a contractor being sought for the £35m redevelopment.
Plans back in 2020 highlighted how the development was to be 175 flats, however it looks like some have been dropped with the final plans being for 164 flats of which most will be rented, but a quantity sold.
The estimated delivery of this project is August 2026 and you can read more about the tender here.
In addition to Mountbatten House, we're excited to let you know about another new development. This one at Acorn Shipyard in Gas House Road, Rochester which could be redeveloped into 132 flats, a café and commercial space.
We find it interesting that the plans show a total of 128 car parking spaces but zero affordable housing or section 106 developer contributions.
Specifics of the layout in the planning application outline how:
“The proposal is for a mixed use scheme of 132 residential units, in three separate blocks, with an additional commercial/community building and small cafe. Provision is also made for a new pontoon, river walk and open public space.
The proposal will also retention the existing slipway and grid irons and relocate the existing crane as a central feature within the public amenity space.
The development provides the following:
- Block A – 76 apartments
- Block B – Commercial/Community facility (135.4m²)
- Block C – 20 apartments
- Block D – 36 apartments
- Cafe – 30m”
An illustration of the scheme
The proposed scheme masterplan
A decision is expected around October and you can read more about the scheme by viewing the planning application here.
I’m sure investors will be pleased to hear that Rochester continues to be an attractive area and we don’t doubt one that will continue to beat average UK house price increases for many years to come!
We will be keeping a close eye on this scheme and keep you updated as it progresses through planning to, hopefully, development!
