Greenwich Development Finance: 1 Unit Residential Scheme at 36 Dallin Road Enters the Pipeline

A new residential application has landed on our radar in the Woolwich and Plumstead corridor. According to the Royal Borough of Greenwich planning register (Idox), application 26/1488/F at 36 Dallin Road, Plumstead, London, SE18 3NU is pending decision. The register records the application as received on 15/05/2026, so it is now roughly two months into the determination process.

The application: scheme, units, and status

The proposal, as set out on the Royal Borough of Greenwich planning register (Idox), is a change of use from an existing dwelling house (Use Class C3) to a 7-bed, 7-person HMO (Sui Generis). The register lists 1 unit proposed and classes the scheme as residential use. This is a conversion play rather than a ground-up build: one house becoming one larger income-producing asset.

On value, our desk puts the estimated GDV at £450,000, a Construction Capital estimate derived from the Royal Borough of Greenwich planning register (Idox) entry and comparable stock in the SE18 postcode. That figure frames what a lender will advance and what the exit looks like.

Where it sits in the Woolwich pipeline

Plumstead sits directly east of Woolwich town centre, and HMO conversions of this kind are a recurring feature of the borough's applications list. Larger consented schemes tend to dominate the headlines, but single-asset conversions like this one make up much of the working pipeline that our Greenwich coverage tracks week to week. Demand for room-by-room lettings around the Elizabeth line at Woolwich continues to underpin sponsor appetite for exactly this trade.

The finance angle: what funding the scheme will need

A C3 to Sui Generis conversion at this scale typically runs through two funding stages. First, acquisition or refinance plus works, which usually means a refurbishment bridge from bridging specialists or a light development facility from specialist commercial lenders, sized against the £450,000 estimated end value. Second, the exit: either a sale, or more commonly a refinance onto an HMO investment mortgage from challenger banks or specialist commercial lenders once the property is licensed and let. On a scheme of this size, works costs are modest relative to GDV, so day-one leverage and speed matter more than headline rate.

Our read as brokers

The status is the key risk item. The application is pending decision per the Royal Borough of Greenwich planning register (Idox), and no lender will release works funding against an unconsented HMO conversion of this type. Sponsors eyeing this or similar SE18 schemes should line up three things now: a costed schedule of works, evidence of the Article 4 and licensing position with the borough, and an exit valuation on the private rented basis. With those in hand, we can usually place a refurbishment bridge within days of consent landing, and terms for the exit refinance can be agreed in parallel so the whole capital stack is settled before works start.