London Living Rent homes will soon be available for the first time at The Quarry in Erith. Delivered by L&Q in partnership with Anderson, the homes will provide Londoners with an affordable opportunity to rent in a thriving South East London neighbourhood whilst saving towards homeownership. The new collection comprises one- and two-bedroom apartments and will launch this autumn.
With private rents continuing to rise across London, saving for a deposit can feel increasingly difficult. The average monthly rent for a one-bedroom property in Erith now stands at £1,275, rising to £1,622 for a two-bedroom home.* By comparison, one-bedroom London Living Rent apartments at The Quarry start from £1,036 PCM, while two-bedroom apartments start from £1,151 PCM – helping residents save hundreds of pounds each month while working towards homeownership.
Funded by the Mayor of London, London Living Rent is designed to help people on middle incomes save towards buying a home. With rents set below typical market rates, the scheme enables residents to put aside more money each month, helping them work towards purchasing a home in the future through Shared Ownership or on the open market.
Andrea Palmer, Head of Intermediate Rent at L&Q, comments: “We know that saving for a deposit can be one of the biggest barriers to homeownership, particularly in London. London Living Rent offers residents the chance to live in a well-designed home while putting money aside towards buying in the future. At The Quarry, residents don’t have to put their lives on hold while they save – they can become part of a growing community with amenities such as Lime Wood Primary School already established, before taking the next step into homeownership.”
Designed for modern living, the homes feature spacious open-plan living areas, integrated kitchen appliances, fitted wardrobes to main bedrooms and a private balcony or terrace. Most homes also benefit from allocated parking and electric vehicle charging provision, while landscaped surroundings and pedestrian and cyclist-friendly streets encourage sustainable travel throughout the neighbourhood.
The Quarry has been carefully planned as more than just a place to live. On-site amenities already include Lime Wood Primary School and a Sainsbury’s Local, while a future village green and dedicated nature reserve will provide further opportunities for residents to enjoy green open space as the community continues to grow.
Situated within the M25 and close to the River Thames, The Quarry is well positioned for commuters. Central London can be reached in around 35 minutes via the Elizabeth line from nearby Abbey Wood station, with Canary Wharf just 11 minutes away and Liverpool Street 17 minutes. Erith station, within walking distance of the development, also offers direct services to London Bridge in 33 minutes.**
For those ready to buy, The Quarry also offers a range of homes for sale, including two-bedroom apartments and three- and four-bedroom houses, providing buyers with a variety of homeownership options as the neighbourhood continues to grow.
One-bedroom London Living Rent apartments at The Quarry start from £1,036 PCM (based on a minimum household income of £39,000 for joint applicants and £42,000 for single applicants). Two-bedroom apartments start from £1,151 PCM (based on a minimum joint household income of £42,000 for joint applicants and £46,662 for single applicants).
