New plans to revamp Leicester’s Stocking Farm estate have moved on a step with the submission of a planning application to the city council – which will likely to help to boost the surrounding area as whole, providing investment opportunities for buy-to-let landlords.
If approved, the plans will see around 50 new energy-efficient council homes built on the 3.34-acre site in the north-west of Leicester. The homes will have high levels of insulation to reduce fuel costs and will be heated through air source heat pumps.
A number of accessible flats for wheelchair users will also be created and the Stocking Farm farmhouse will be converted to provide supported living accommodation, enabling people to live independently.
A new public open space is planned, which will include a children’s play area and attractive landscaping for people to enjoy and where wildlife can flourish.
Improvements to local shops and the existing public footpath along Marwood Road and Packwood Road are also planned, along with the creation of a new pedestrian crossing on Marwood Road.
This could open-up the opportunity for landlords that have existing properties in these areas to increase the monthly rent because of the planned revitalisation – as well landlords looking for new properties to invest in.
The city council has already worked with award-winning social enterprise Community Shop to bring a new branch to the former youth centre on Marwood Road. The building offers affordable groceries in its supermarket, a community kitchen and training for members, and a café available to non-members where children can eat for free.
Cllr Elly Cutkelvin, asst city mayor for housing said: “There has been extensive consultation with local people on the development of these ambitious plans over the last two years, and their input has been vital in shaping the proposals.
“Now that a planning application has been submitted, people have yet another chance to let us know what they think and to help to revitalise this important neighbourhood and provide much-needed homes.”
The planning application can be found on the city council’s planning web pages by searching for application number 20221514.
