Crest Nicholson has announced the purchase of the Essex Brewery site in South Grove from Metropolitan & Suburban in January 2017.
Work is planned to commence in spring, with the first units of the mixed–use development due for completion in summer 2018.
The Essex Brewery scheme will comprise 158 private units, 25 in shared ownership and 479sq m of flexible retail space suitable for retail and culinary ventures.
Following the developer’s strategy of targeting the first-time buyer market in 2016, 95% of units will be available on the Help to Buy London scheme.
Trevor Selwyn, managing director Crest Nicholson, said: “We are pleased to announce plans for the Essex Brewery in Walthamstow, situated in one of greater London’s first-time buyer hotspots.
“With interest rates at an all-time low, now is an important time to support first-time buyers by delivering much-needed affordable homes.
"Our focus will remain towards sites in outer London that offer homes which fall within the Help to Buy London price bracket and have strong transport links to the centre of the capital.”
Metropolitan & Suburban obtained planning permission in April 2016, with the scheme designed by the Kalyvides Partnership.
The council was insistent on early delivery of the scheme and BNP Paribas Real Estate was appointed to market the site.
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