Kabina® thas had discussions with Newham Borough regarding its proposed pilot scheme of 400 floating apartments for London singles and couples. The apartments have been designed for the Royal Docks in London by world-leading floating structure architect Koen Olthuis, of Waterstudio in Rotterdam.
“The great news is that the 50 square metre apartments are not only very cool, they are genuinely affordable, at £250k. If we could start building them now they would be ready for occupation by in 2018. Our plan is to create a new floating community for key worker couples and others wanting to get onto the first rung of the property ladder”, explains Neil Cheston, founder and MD of Kabina®.
The apartment flotilla is ideally suited to the large expense of 200 acres of redundant water and docksides in the Royal Victoria Dock, Royal Albert Dock and King George V Docks. The new Crossrail station at Custom House will take passengers to Tottenham Court Road in 15 minutes and to Heathrow in 40 minutes./p>
Neil Cheston: “To make this happen we are going to need support from local government and mortgage providers. In Holland it is normal for institutions to support floating real estate. If Britain is going to sort out the housing crisis, it needs to think outside the box, and follow the Dutch example of turning water into real estate.
The Royal Docks
Kabina proposed scheme
“Various plans and schemes have been discussed for the Royal Docks over the last 20 years. But if you take a look today you will soon realise that nothing has happened. The docks and water space are still empty! We’re talking about 200 acres of prime liquid real estate - a similar area to the whole of central London from Hyde Park to Tower Bridge – unused!
“We could build 2,000 starter homes for couples who are currently living with their parents or in unsatisfactory accommodation. We could create floating student accommodation for the expanding University of East London. We could run a new water taxi and bus service connecting homes, City airport, the UEL and the Emirates cable car. We have a major capital backer keen to support us. Politicians from all parties talk a good game in saying that we need affordable apartments for first time buyers. Now is the time to act. Let’s hope Sadiq Khan’s new team supports our intiatives.”
Kabina has issued its new research project in the form of a multi-layered map.
Kabina is advising Peel Land and Property Group on its Liverpool Waters development.
Guy Lane spoke at McBrides’ Finance and Business Breakfast on the challenges of being a start-up.