There may be a lot of attention on the trend of moving out of cities but there is certainly still a great deal of interest in living in London, and Shared Ownership is a scheme which can really help people taking a first step on the property ladder.
Shared Ownership, sometimes known as ‘part buy-part rent’, is open to first-time buyers and provides a way of getting into homeownership on a modest budget. It does so with the opportunity to purchase a share of the property, based on its full market value (FMV), and pay a discounted rent on the remainder, and the ability to buy a greater share in the home over time when finances allow. Find out more about how it all works here.
Despite the latest tight restrictions, the property market is ‘open for business’, and here are just a few of the current apartments available through Shared Ownership across the capital.
Renowned for its impressive luxury homes, Wimbledon Hill Park is not exclusively for buyers with a big budget. Clarion Housing, a recent WhatHouse? Award winner is offering Shared Ownership there at Ambrose Apartments. It’s part of an exclusive estate on the edge of beautiful parkland and just a mile or so from to Wimbledon Village, and the town centre and station.
Ambrose Apartments
The neighbourhood has some excellent schools, sports clubs and public open spaces. These apartments come with a fully fitted kitchen with a range of appliances, high-quality bathrooms, flooring throughout and each property has its own outdoor private space. Prices start at £131,250 for a 25% share of a one-bedroom apartment (FMV £525,000) and £186,250 for a two-bedroom apartment (FMV £745,000). An offer to reserve for just £125 – down from the usual £500 – has been extended to Thursday 31 December 2020. Find out more at www.myclarionhousing.com
Notting Hill Genesis has some two-bedroom homes for sale at Heron Quarter at Woodberry Down in Hackney and residents have private outdoor space in the form of a balcony or terrace. These apartments have a contemporary design with fitted kitchens in the open-plan layout, with a washer/dryer in a separate utility cupboard, well-appointed bathrooms, oak wood-effect flooring to kitchens and living areas, and plenty of storage space. Residents will also have access to a peaceful courtyard garden, and on-site cycle storage.
Heron Quarter
James Munson, head of marketing at Notting Hill Genesis, commented: “This corner of Hackney is proving hugely popular amongst first-time buyers; offering a thriving social scene and excellent travel connections as well feeling close to nature – appealing to a diverse lifestyle. With sales moving quickly, we recommend that interest buyers book a viewing sooner rather than later to avoid missing out.”
With transport, shops, a host of places to eat and drink, open spaces and leisure facilities within just a few minutes of the front door, Woodberry Down also has a health centre, two schools and an Academy within walking distance of this development.
Prices at Heron Quarter start from £155,000 for a 25% minimum share of a two-bedroom apartment (FMV £620,000). Find out more at www.nhgsales.com.
Parkside Place in Wembley, also from Notting Hill Genesis, has just one final one-bedroom apartment with private balcony available with the benefit of a luxurious furniture pack to guarantee a home ready to move into. Best known for Wembley Stadium and the SSE Arena, the area also boasts two large parks, an array of independent stores, restaurants and cafés and impressive public transport services.
Parkside Place
Munson added: “Not only do the apartments here offer a terrific specification and finish, the local area is also thriving with a fantastic entertainment scene and wide array of independent retailers as well as the pleasant open space of nearby Barham Park. Connections into Central London are also convenient with travel times to London Marylebone taking just 18 minutes.”
This last remaining apartment is priced at £80,000 for a 25% share (FMV £320,000), meaning the buyer needs a deposit of only £8,000. Find out more at www.nhgsales.com.
L&Q has launched 167 homes for Shared Ownership at Brunel Street Works in Canning Town, where new housing is being complemented by open spaces, restaurants, cafés, shops and creative workspaces. The development is adjacent to Canning Town station, which serves the Jubilee Line and DLR.
There are one-, two- and three-bedroom apartments with large, open-plan kitchen/living/dining areas connected to spacious private balconies, plus ample storage. Dedicated communal cycle storage avoids residents having to keep their bike in their hallway, and they will also benefit from communal facilities, such as a roof terrace, podium garden and children’s play area, as well as 24-hour concierge service.
Brunel Street Works
Claire Brenlund, sales director at L&Q, commented: “The regeneration of Canning Town is undoubtedly one of the most exciting projects of its kind currently underway in London. Whilst many neighbouring areas, such as London City Island, Royal Docks and Stratford have now undergone dramatic transformations, Canning Town is currently in the sweet spot where plans are underfoot and infrastructure is well under way, but prices have not yet caught up with surrounding areas.”
Prices at Brunel Street Works start from £102,500, £125,000 and £146,875 respectively for a 25% share of a one-, two- and three-bedroom apartment (FMV £410,000, £500,000 and £587,500). Find out more at lqhomes.com.
Woolwich has been benefitting from some major regeneration and now mixes heritage and tradition with the brand new, offering a lot of choice in places to shop and have fun. Its profile and popularity have grown along with its potential from the launch of Crossrail, with a brand new major station for frequent, fast services through the capital.
Inglis House
At Inglis House in Woolwich, Optivo is offering a rare opportunity to purchase a three-bedroom apartment, with a 25% share priced from £121,500 (FMV £485,000). The specification includes a Silestone worktop and full range of appliances in the kitchen, washer/dryer in a utility cupboard, brushed oak flooring to hallway and living spaces, fitted carpet in the bedrooms, and underfloor heating. Find out more at www.optivo.org.uk.
Peabody is, for a limited time, offering £5,000 cashback and mortgage broker fees paid (up to £495) to key worker buyers at its Colindale Gardens, part of a huge re-development in the north of London. Additionally, the housing provider will give £5,000 worth of John Lewis vouchers when they make a reservation on the day of their viewing in January. The location will be popular with essential workers, being an eight-minute walk from the Peel Centre – Hendon Police College, a nine-minute cycle ride from BMI Hendon Hospital and under 20 minutes via train from the Royal Free Hospital.
Colindale Gardens
Andrew Peglau, assistant director of marketing at Peabody comments: “2020 has been a tumultuous year for us all, and without the help of our key workers the year could have been much worse. As a thank you for all of their hard work we are thrilled to be offering this exciting package at our Colindale Gardens scheme. Thanks to its Zone 4 location, residents here have access to all that London has to offer, whether that’s for work or play. We are sure that our key workers will find themselves at home here.”
The one-bedroom apartments have fully equipped kitchens with integrated Bosch appliances, private balconies, a 24-hour concierge service, and residents have access to the exclusive gym, sauna and steam room. Prices start from £87,250 for a 25% share of a one-bedroom apartment (FMV £349,000).