A planning application submitted on behalf of developer Finebeam Ltd has been proposed for the redevelopment of the site at Abbey House, Bakers Row in the London Borough of Newham.
Abbey House contains 12 residential units, all of which are owned by the Applicant and are let privately
The scheme if approved would see the demolition of the Bakers Row block of flats and replaced with a row of terraced mews houses and a building ranging from 4 to 14 floors, providing in total 74 homes and associated landscaping and public realm improvements.
Next door is Abbey Road DLR station which forms part of the line from Stratford International to Woolwich Arsenal. Further on, West Ham Station is 800 metres to the south of the site – approximately a 10-minute walk – which provides access to the District, Hammersmith, and City and Jubilee lines and C2C National Rail Services.
Similarly, Stratford Station is 1,100 metres to the north of the site – approximately a 15-minute walk – which provides
access to the Elizabeth, Overground, Central, Jubilee, DLR lines, and Greater Anglia services.
The current proposal differs from the previous ‘U’ shaped layout in that the mews house and the taller
element is detached completely, allowing for a clear separation between the two contexts and providing
a generous amenity space.
The London Plan (2021) sets an annual monitoring target of 3,280 new homes per annum up to 2029 for
the London Borough of Newham. The LB Newham Local Plan sets itself as a stepped housing delivery
10-year target over 2019-2029 of 32,800 homes.
Of the 74 new homes proposed, 44% are set to be delivered as one-bedroom homes, 29.7% for two-bedroom homes, and the remaining 25% as three-bedroom homes.
According to the Financial Viability Assessment, the scheme would generate a residual profit of -£1,871,658 or -5. 93% of the estimated gross development Value; £8,184,658 below the total benchmark profit of £6,313,000 (20% of the GDV).