Feature Development – Home X, Brighton

With Help to Buy applications now closed, Shared Ownership may provide the ideal solution for those looking for alternative routes to get on to or up the property ladder, with developer Optivo delivering 194 high-specification Shared Ownership homes as part of its landmark Home X development in Brighton.

Home X is an exciting new neighbourhood, forming a key part of the Preston Barracks Regeneration on Lewes Road being delivered in collaboration with U&I, Brighton & Hove City Council and the University of Brighton.

The range of homes include studio, one- and two-bedroom apartments plus three-bedroom triplexes for those who require more space. A selection of homes have private outside space in the form of a balcony or terrace, while all residents’ have access to beautiful landscaped podium gardens. Internally, homes are light-filled with a high-quality specification, including matt blue integrated kitchens by Symphony, with Siemens integrated appliances.

As part of Home X’s travel plan, residents will also benefit from two years’ free car club membership and choice of either a NetworkSaver ticket, £150 bike voucher or 12 month BTN Bikeshare membership.

Shared Ownership is a government-backed scheme, designed as an alternative route on or up the property ladder. Buyers at Home X can start by buying a share in the property that’s between 35% and 75% of the full value, using a combination of a mortgage and a deposit. Crucially, buyers only need a deposit on the share that they are purchasing as opposed to the entire property value, before paying rent on the remaining portion.

Situated between the South Downs and the sea, there is a vibrant sense of place and community coming together at Home X with a range of landscaped outdoor spaces, fitness trail, flexible workspaces in the adjoining Plus X Brighton innovation hub and well-being spaces. New commercial spaces include a convenience store, café and workshops, alongside a medical centre and pharmacy, all a short walk from the sea, while a striking new recently opened bridge now links the new community with neighbouring areas.

Jane Williams, head of sales and marketing, at Optivo, commented: “Shared Ownership provides a popular alternative route to home ownership, requiring a much smaller deposit that puts property in reach of a wider audience. Buyers can get onto the property ladder, with the flexibility to increase their share, known as staircasing, over time if their circumstances change.

“The neighbourhood is now home to many residents with a real sense of community coming together. We look forward to welcoming more purchasers tempted by life by the coast.

“With Help to Buy applications now closed, Shared Ownership will play a vital role in continuing to ensure that more people can get onto the property ladder. Home X offers an exciting lifestyle – high-quality homes, great amenities and placemaking, all while in an iconic seaside postcode.”

Home X apartments start from £85,750 for a 35% share (full market value £245,000) of a studio apartment, and £99,750 for a one-bedroom apartment (35% of full market value at £292,500). There are other property sizes too, and homes are also available to purchase through open market sale. Find out more at www.home-x.co.uk.

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