Wednesday 12 August 2015 5.09pm
I tend to agree with Karen's assessment that there will be no social housing and no affordable homes.
Dress it up as you will the rents will not be affordable in the real world. I believe that property developers and investors look for an annual return of between 7.5 - 10%, that means that the rent of a studio flat, really a bed-sitter, would have to be between £750 - £1000 per week.
If Southwark Council
were stupid enough to buy from this development they couldn't afford to buy 16 studio flats at over £510,000 each for their £8 million.
I would suggest to Barrats that they call the development
( they can pay me for giving them an original and memorable name), because that is what St. George's Circus used to be known as locally before some idiot decided that the Obelisk should be moved to Bedlam Park -now Geraldine Harmsworth Park I believe, and then moved it back again to its rightful place one mile from Westminster Palace Yard.
The Obelisk, what a fine upstanding name and none of the confusion of calling something Blackfriars Circus which isn't in Blackfriars.