Property-hunters in Greater London looking for an affordable way onto the property ladder can benefit from a very active Shared Ownership market with several development launches across the capital.
Shared Ownership is a government-backed scheme where people can part buy-part rent a home. They can start by owning 25% to 75% of the property, paying a subsidised rent on what they don’t own, and over time, as they can afford to, they can choose to purchase further shares – a process known as staircasing – until they own 100% of it. The advantage is the buyers can start using a much lower deposit and mortgage than they would need if buying the same home outright.
A number of major housing providers are working hard on meeting the demand for affordable new homes in London, and the latest launches will be an excellent way for those seeking a one to learn about the very latest availability.
Royal Docks
Gallions Place
Notting Hill Genesis, in partnership with Vistry Partnerships, is launching a collection at Gallions Place in the Royal Docks. They are creating a new community of 241 homes across three contemporary buildings alongside new communal spaces and leisure facilities. Forty-eight of these new homes will be available through Shared Ownership.
The contemporary apartments at Gallions Place are fitted with soft, oak wood flooring in the halls, living area and kitchens, and a neutral design for residents to make their own. Each apartment comes fully equipped with integrated kitchen appliances, including a Bosch oven, a Zanussi integrated fridge freezer and dishwasher, and separate washer dryer. The bathrooms are fitted with large format Porcelanosa wall tiling with brushed aluminium edging detail and white gloss vanity worktops. Residents will also benefit from a 12-hour concierge service, underfloor heating across all properties, and secure bike storage in an underground parking area.
Existing on-site amenities include award-winning restaurants, cafés, and a flourishing arts community including Bow Arts which offers workshops, exhibitions and classes at its events space RAW Labs. Gallions Reach DLR station in Zone 3 is less than a two-minute walk from all properties. The new Crossrail services at Customs House will also provide speedy connections into and through the city.
Shared Ownership homes at Gallions Place start at £77,500 for a one-bedroom apartment for a 25% share (full market value £310,000). Find out more at nhgsales.com.
Perivale
Union Square
Network Homes has revealed their latest show home at Union Square in well-located Perivale, Ealing to showcase their new collection of Shared Ownership apartments available in this up-and-coming area. Designed by Clayton & Company, the new show apartment is inspired by the modern metropolitan surroundings and provides a fully furnished and decorated example of the two- bedroom apartments available at the development.
The layout of the apartment has been carefully considered to ensure future residents can make the most of their spacious and contemporary interiors. Kitchens are designed to a high- specification with integrated BOSCH appliances and designer kitchen units in grey with led lighting under all wall units. Both bedrooms are peaceful havens, with luxurious wool carpet throughout whilst the chic en suite to the master bedroom includes modern thermostatic shower and bath, glass mirror-fronted wall cabinets and slip-resistant ceramic floor and matching tiles. The entrance hall is finished with luxury Amtico vinyl flooring and audio/visual entry phone system to ensure peace of mind and security.
Ealing is currently undergoing a regeneration focusing on the revival of the town centre, expanding the local amenities and giving the area a sustainable uplift. Residents at Union Square will be able to take full advantage of these ambitious investments in their day-to-day lives. Neighbouring Alperton, just 10 minutes away, is a waterside neighbourhood which will play host to a wide selection of brand new services including an exciting range of retailers, restaurants and leisure facilities, along with a new health care facility, nursery and community centre.
Prices at Union Square start from £83,125 for a 25% minimum share, full market value £332,500. Find out more at www.networkhomessales.co.uk.
London Borough of Wandsworth
St John’s Way
Peabody has a trio of new developments located between the thriving districts of Battersea and Clapham. St John’s Way, New Mansion Square and Willow Walk each offer a collection of apartments sure to suit a variety of lifestyles and a selection of the homes are available to purchase with Shared Ownership.
Offering one-, two- and three-bedroom apartments, St John’s Way occupies a prime setting amongst the desirable locations of Battersea Rise, Lavender Hill and Northcote Road. Each property features bright, spacious, open-plan layouts coupled with high-quality interiors and private outdoor space in the form of a balcony or terrace. Residents will also have access to a central courtyard and beautifully landscaped grounds with lush trees and planting, a new community hub, children’s play area and a 24-hour concierge service. Prices start from £121,250 for a 25% share in a one-bedroom apartment (full market value £485,000).
New Mansion Square is within one of London’s most renowned regeneration projects, Battersea Power Station, within easy reach of some of London’s most popular riverside dining, retail and entertainment venues in Circus West Village. Comprising a selection of studios, one- and two- bedroom apartments with modern and contemporary specifications and thoughtful layouts, purchasers will benefit from private balconies, access to concierge services and a landscaped communal garden.
Willow Walk is a collection of one-, two- and three-bedroom Shared Ownership apartments located moments from the River Thames and set across 13 floors, providing residents with expansive cityscape views as well as an enviable destination. Within a short distance of home are a mix of eateries and eclectic pubs at nearby Southside Shopping Centre and Ram Quarter, and the popular green space of Wandsworth Park is on-hand to explore. Prices start from £130,000 for a 25% share in a one-bedroom apartment (full market value £520,000).
Find out more at www.peabodysales.co.uk.
Harrow
Harrow and Wealdstone Heights
Origin Housing is due to launch a brand new collection of 81 contemporary one- and two bedroom Shared Ownership apartments at Harrow and Wealdstone Heights. The development, designed by Moss Architects, features two dramatic towers, finished in high-end Portuguese limestone.
Eighteen stories at its tallest, Harrow and Wealdstone Heights’ modern, open-plan apartments will give residents sweeping panoramic views across London. Every apartment has a private balcony and a communal roof terrace offers a unique vantage point from which residents can enjoy the views. A central public realm will accompany the new homes at Harrow and Wealdstone Heights. Residents will have access to landscaped green spaces amidst the urban environment, while new play spaces and mature planting will dramatically improve a communal underpass area.
Simon Scott, assistant director, commercial and property marketing for Origin Housing, commented: “We are delighted to be offering much-needed affordable homes to the Harrow area. Building upon our long-standing commitment to the Borough, where we have developed hundreds of affordable homes in the last few years alone, Harrow and Wealdstone Heights will bring a large number of homes to first-time buyers in the area.”
Between them, Harrow & Wealdstone and Kenton stations offer services on the Underground, Overground & mainline trains. By car, the M1, M25, M40 and North Circular routes can be accessed in around 30 minutes and new residents can also take advantage of an exclusive car club offer, in partnership with Enterprise Cars.
Shared Ownership prices start from £80,625 for a 25% share of a one-bedroom apartment (full market value £322,500). Find out more at originhousingsales.co.uk.
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