Flats in a high-rise apartment block in Tottenham that was opposed by the council and residents are being marketed to overseas investors.

A sponsored article in the South China Morning Post states that the “spacious studios and one and two-bedroom apartments” in Tottenham Hale will shortly be available for Hong Kong buyers or investors at prices starting from around HK$3.23 million (£305,000).

The first phase of the Lock 17 development – a 21-storey tower named ‘Rise’ – will provide 141 apartments and suites when it is finished in early 2020.

It is being developed by Waterside Places – a joint venture between Muse and charity the Canal and River Trust – as part of the Hale Wharf project.

The sponsored article states: “The local area has everything required for contemporary city living, from cafes, bars and restaurants to independent retailers and global brands at Tottenham Hale Retail Park.

“The wider Tottenham area is fast becoming a creative hub in the north of the capital, where disused warehouses are being given a new lease on life by start-ups and art studios.”

Developer Waterside Places said it had launched properties to the UK market on May 23 – five days before the sponsored article appeared in the Chinese newspaper.

But with Haringey experiencing an acute shortage of affordable homes, the article has added fuel to the ongoing debate about foreign investors buying up London properties.

The development was initially rejected by Haringey Council after locals complained about its size and the potential environmental impact along the neighbouring River Lea and Lea Valley.

But the decision was overturned by mayor of London Sadiq Khan after the affordable housing quota was raised from 9 per cent to at least 30 per cent and steps were taken to reduce the environmental impact.

A Haringey Council spokesperson said: “We’ve been clear that we want Haringey residents to be the first to benefit from any new development in the borough, and we would always prefer new homes to be marketed to local people first.

“Alongside our commitment to ensuring that all major developments in Haringey include a reasonable proportion of affordable homes, we are looking at whether our own planning policies could enable us to place marketing conditions on developers.”

According to research published by the University of York in 2017, 17.6 per cent of London new build properties in 2016 were sold to overseas investors.

Many of these homes, which could have gone to first-time buyers, are rented out, while some are left unoccupied.

Liberal Democrat spokesperson on housing and regeneration Cllr Dawn Barnes said there did not appear to be a plan to put the investment attracted into social and affordable homes.

She added: “Hornsey’s Smithfield Square was similarly marketed in the Hong Kong press as an investment opportunity and the development itself is segregated into private and affordable properties.

“There is an undeniable need to reconsider how we attract investment and how we spend that money to help people who are struggling to enter the housing market or find a property to rent.”

Michael Orr, development director at Waterside Places, said: “At Lock 17, we launched properties to the UK market on May 23, securing a number of sales, prior to launching to all markets in June. All homes launched are available to both UK investors and private buyers.

“For those looking to buy a new home through Help to Buy, as per its guidelines, it will be available six months before the development’s practical completion, which will be late 2020.”

Mr Orr added that 35 per cent of the housing provided in the next phase of the Hale Wharf development would be classed as affordable.