The company plans to construct five one-bedroom airspace apartments at Nicholas Court, Burnt Ash Hill, in Grove Park.
The £1.35 million development will follow Castlemere's signature approach, utilising offsite construction methods. Once completed, the prefabricated units will be lifted into place to finalise the project, in line with the company's other airspace schemes.
This innovative construction method allows for efficient use of space and minimal disruption to the surrounding area, contributing to London's growing need for residential housing.
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Nicholas Court, which is a three-story apartment block, will deliver aspirational and affordable modular penthouse living. The project is expected to be completed by early 2025, with the apartments expected to be on the market for around £260,000 - £270,000 each.
Kris Collett, managing director of Castlemere Developments, said: "We have exchanged contracts on securing Nicholas Court and will be delivering properties that are focused on being starter homes and that appeal to first time buyers.
"The price of these one-bedroom apartments is going to be very reasonable based on the London property market.
"There is a huge demand for residential properties and we will continue to source suitable locations that we can develop to help meet this need."
Nicholas Court will be built off-site as Castlemere Developments purposely choses off-site MMC so that it can deliver projects much quicker than onsite developments, reduce the disruption to current residents, and ensure its developments are as environmentally friendly as possible.
