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Shared Ownership Apartments Now In Southampton

Posted 1 October 2020 by Keith Osborne

A collection of 24 new apartments are for sale on a part buy-part rent basis at Chapel Riverside on the River Itchen...

Affordable housing provider St. Arthur Homes has announced a brand new partnership with Inland Homes at Southampton-based development Chapel Riverside and introduced a limited number of properties available to purchase through Shared Ownership.

The 24 new one- and two-bedroom Shared Ownership apartments at Chapel Riverside will offer purchasers the opportunity to buy a 50% share of the full market value, while paying a subsidised rent on the remaining share of the property. For a one-bedroom apartment with a full market value of £190,000, purchasers will only have to save a £9,500 deposit compared to £19,000 for private sale, and then pay monthly mortgage payments on their share of the property, rather than the full market value. As and when they are able to, purchasers can increase their share at any time, all the way up to 100% and outright ownership.

Richard Cohen, CEO at St. Arthur Homes, said: “Shared Ownership is a crucial way of helping buyers struggling to get a mortgage through a private sale purchase their first home. Our brand new Shared Ownership homes at Chapel Riverside have been designed with first-time buyers in mind, without compromising on style or design, and the lower deposits make it a much more affordable reality for buyers keen to own their very own home in a desirable location.”

Speaking of the partnership, Stephen Wicks, CEO at Inland Homes, commented: “We are delighted to be working with St. Arthur Homes to help provide affordable housing available through Shared Ownership in Southampton. At Inland, we are dedicated to providing high-quality housing at an affordable price for house-hunters on a range of budgets, so we hope that the introduction of Shared Ownership at Chapel Riverside will help many more Southampton first-time buyers get their foot onto the property ladder.”

Taking full advantage of its waterside setting, Elm House is situated among wide boulevards and landscaped gardens, perfect for taking in the peaceful views across Southampton’s River Itchen. The new apartments offer light, spacious accommodation with the same high-quality specification as the private sale apartments. A typical one-bedroom property offers an open-plan bespoke kitchen/lounge area with double doors opening onto a balcony. A chic bedroom and separate bathroom with contemporary white fittings complete the home.

Each apartment comes complete with two floor-to-ceiling storage cupboards, whilst a video entry phone and underfloor heating that can be controlled via a smart phone or table are further added bonuses. Many properties also benefit from an allocated parking space.

With an abundance of entertainment, retail and leisure facilities to choose from, the vibrant city of Southampton is a fantastic place to call home for first-time buyers. The nearby Ocean Village marina complex combines brasseries, steakhouses and a number of high-end eateries overlooking Southampton’s yachting marina, where residents can relax after they have shopped until they dropped at the city’s West Quay Shopping Centre with over 100 clothing and retail stores. For weekend dates with friends or loved ones, West Quay is also home to the 10-screen Showcase Cinema de Lux, whilst further afield the Harbour Lights Picture House offers showings or arthouse and mainstream films by the harbourside.

Chapel Riverside is perfectly located for all types of travel. By road, the M27 and M271 connect residents to the rest of the South of England via the wider motorway network, whilst by rail residents can reach London Waterloo directly by rail in 1 hour 15 minutes from Southampton Central station. By sea, the Isle of Wight is just a 25-minute ferry crossing away, and Southampton Airport transports residents to a number of European destinations.

Prices for the Shared Ownership apartments at Chapel Riverside start from £95,000 for a 50% share. (full market value of £190,000)

Find out more at www.starthurhomes.com.

 

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A Guide To Part Buy Part Rent
Part Rent Part Buy is a scheme you can use with Home Reach where you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Find your part buy part rent house today!

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