Ikea to build 162 affordable flats in the UK
Mon 01/07/2019 – 14:56
Ikea has announced it will soon build affordable housing in the UK after Worthing Council agreed to work with a housing developer co-owned by the furniture retail giant.
(Author : Sahar Nazir)
The council will work with Swedish property developer BoKlok, which is co-owned by Ikea and construction firm Skanska, to help set property prices so that “buyers have money left to live on after they have paid their housing cost”, The Guardian reports.
If the plans go ahead, work on the site will begin in September 2020, with residents being able to move in in April 2021. The deal will see 162 affordable flats built on a plot of land that Worthing Council owns. Properties in Worthing currently cost 11.7 times the residents’ local salaries, according to data from the ONS.
Meanwhile, the property’s flooring and wall tiles are included in the price, and are all fitted with an Ikea kitchen. One-bedroom apartments will measure around 538sq ft, while three-bedroom apartments will measure 800sq ft.