Revealed: How much it will cost you to rent new Zone 1 'micro flats' coming to capital

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The cost has been revealed of cheap new “micro-flats”, coming to central London and designed to help thousands of people threatened with being priced out of the capital.

A housing regeneration developer based in the city has said it wants to combat the chronic unaffordability of London homes with a new “compact living” scheme designed to lure young professionals back into Zone One with reasonable rents.

Developer U+1 has revealed rents will range from £700 to £1,200 per month, with at least 50 per cent achieving the London Living Rent.

It added that it hopes 100 per cent of the homes will eventually be available for the London Living Rent. They would also be rental only – meaning they cannot be bought and sold on.

The developers is looking for sites in nine inner London boroughs (U+I)

The homes, called Town Flats, are intended as a solution for middle income earners – those earning £30,000 to £60,000 a year.

Developer U+I has already created two test apartments in their offices in Victoria, designed by Manser Practice and architect Ab Rogers, and is already consulting on five central London sites, each of which could hold 200 to 300 flats.

It is hoped the flats will allow middle-income earners to rent in the centre once again (U+I)

They would have a floor size of either 19 or 24 metres squared and will be built in blocks with shared communal areas in nine inner London boroughs.

Research suggests building just five blocks of the mini flats in each of the nine London boroughs could provide 4,770 extra homes in the centre.

Half of the homes will initially be available at the London Living Rent (U+I)

“For too long and for too many people London has been hollowing itself out, diluting the rich blend which has made it the global capital,” said U+I deputy chief executive Richard Upton.

“The centre is now only affordable to either the very wealthy, only occasionally present, or those living in what social housing remains.

It is hoped that all the homes will eventually be available at the London Living Rent (U+I)

“For a new generation of workers in the middle, often working centrally, living in the middle of London has long been a dream.”

Mr Upton added: “We want to develop something that not only re-fills hollow London, but also brings communities back to life and delivers real social and economic benefits.

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