'Appalling advert' boasts no social housing as sales tactic

Developers are using a boast of 'no social housing' to persuade wealthy Asian investors to buy flats in London.

Credit: Property advert

The sales tactic has provoked fury from politicians who described the advertisement as appalling.

The apartments at Abbey Wood in south east London are being marketed at an 'exclusive launch' in Hong Kong at the end of the month.

Credit: Property advert

The nine-storey Abbey Tower, built by Development Securities' is being promoted by selling agent Fraser & Co in an online advertisement.

Buyers are invited to 'reap the rewards of Crossrail'. The cheapest apartments are £249,999. 'Fully private block with no social housing'

London Assembly Green member Darren Johnson said the sales ploy exposed the truth about London's housing market.

Boasting about the absence of social housing in adverts for new developments shows that housing policy in London is about meeting the needs of wealthy investors, not about the needs of ordinary Londoners.

At least this appalling advert is honest about it.

The Mayor’s voluntary agreement with developers on marketing isn’t worth the paper it’s written on. He should lobby for measures like a land value tax to stop this rampant speculation on new housing, and ensure every new development is built with social housing.

– Darren Johnson, London Assembly Green member

Abbey Tower is just one part of a major redevelopment scheme in a key area of London.

The project will be provide around £1.2 million of investment into Crossrail and local infrastructure, 300 jobs and much needed benefits to the local community, including a new nursery, supermarket, public square and public library.

The project will deliver 216 new homes, of which 11% will be affordable as approved and adopted by the formal planning process which took into account the wider area when giving consideration to the requirement for affordable homes.

The 32 apartment Abbey Tower is just the first phase of this development and it is being marketed to a wide range of audiences, starting with a launch in London to give the local market the first opportunity to buy at the scheme.

– Development Securities