Feature Development – Great Oldbury, Stonehouse

Great Oldbury is a major development which is taking shape on the edge of the Cotswolds near Stonehouse, Gloucestershire, with numerous housebuilders offering new homes there, with some available through the Home Reach scheme.

For those on a modest budget, Home Reach is a partnership between housing provider heylo and housebuilders across England which allows first-time buyers who meet the eligibility criteria to ‘part buy-part rent’ their home, usually starting with a 50% share. This scheme requires a much smaller deposit than buying outright and the mortgage that is needed can be achieved on a much lower salary.

Great Oldbury could eventually comprise as many as 1,350 new homes and has its own local centre, a purpose-built nursery, pre-school and Primary Academy. It is just a five-minute drive from the shops, pubs, restaurants, health and sports facilities of Stonehouse. The bustling Cotswold town of Stroud, known as a haven for artists and musicians and with an impressive Farmers’ Market, is under five miles away.

Trains run from both Stonehouse and Stroud to London Paddington, Cheltenham, Swindon and Reading. Junction 13 of the M5 is only one mile away giving commuters easy access to Bristol, South Wales, the M4 and north to Gloucester and Cheltenham. The A419 links the area to the A38 and Severn Valley, and east to the ‘Capital of the Cotswolds,’ Cirencester, a pretty 18-mile drive.

Working with Linden Homes on part of this development, Home Reach is offering a range of two-, three- and four-bedroom house types at Great Oldbury.

‘Cartwright’ house type

The two-bedroom ‘Cartwright’ is a terraced home that could make an ideal choice for a single buyer or couple. On the ground floor is an open-plan kitchen/dining area, perfect for welcoming guests. To the rear is a generously sized living room with patio doors to the garden. Upstairs you’ll find two double bedrooms and a beautifully finished family bathroom. This home is priced from £133,750 for a 50% share (based on a full market value of £267,500). This would require a minimum 5% deposit of £6,688 and the estimated monthly cost starts from £1,105.

‘Elmslie’ house type

For a little more space, the three-bedroom ‘Elmslie’ could be the best option. At the front of this house is an open-plan kitchen/dining area and at the back the spacious living room, which has French doors to the garden. There’s also a cloakroom and under-stairs storage. Upstairs, bedroom one is a double with en suite shower room, while bedrooms two and three can share the family bathroom. A 50% share of this home starts at £155,000 (full market value £310,000). It would require a minimum 5% deposit of £7,750 and the estimated monthly cost is £1,169.

‘Aslin’ house type

Families can also find suitable larger homes through Home Reach here. One example is the ‘Aslin’, which is a four-bedroom home set out over three floors. It has a kitchen/dining room, a separate living room which opens out to the rear garden, some under-stairs storage and a downstairs cloakroom. On the first floor are three bedrooms (two of them doubles) and the family bathroom, and the top floor is dedicated to bedroom one, which has the bonus of an en suite shower room. Prices start at £162,500 for a 50% share (full market value from £325,000). To purchase this will require a minimum 5% deposit of £8,125 and the estimated monthly cost is from £1,224.

Find out more about Great Oldbury from Home Reach.

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