Gallard Homes sells all £199,000 London flats in three hours

After camping out in the streets of the capital overnight, aspiring homeowners were quick to snatch up around 215 affordable starter homes in a new west London development, built by Galliard Homes.

On Thursday night, Galliard sold out in just three hours of the starter home flats at Trinity Square, which went for a combined £60m.

Specifically designed for first time buyers, the £199,000 flats are signficantyl less than the standard £500k London home value, according to the Office for National Statistics.

The flats sold out at such speed, Galliford broke the record for the London new homes market, which estimated at around £20m per hour.

Stephen Conway, chief executive of Galliard Homes, said: “Trinity Square is part of our ‘Get on the Ladder’ Campaign to provide hundreds of new homes priced below £300,000 in order to help Londoners get a foot on the housing ladder.

“We are proud to continue our role in providing much-needed housing and contributing to the regeneration of London.“

The residential scheme, which includes 228 apartments, is located at the former American Airlines European headquarters building.

The additional 13 apartments will be sold to Galliard Homes’ current clients.