Shared Ownership Opportunities In London Right Now

Shared Ownership – sometimes referred to as part buy-part rent – is as popular as ever for first-time buyers on a modest income looking for a brand new home in London that is both high quality and affordable.

As lockdown has eased, there’s been a surge of interest from house-hunters but thankfully, housebuilders have been busy and have continued to build and launch new collections of homes over the summer, providing some excellent options for potential Shared Ownership buyers with a household income of under £90,000 to consider.

Royal Albert Wharf, E16

On Saturday 15 August, Notting Hill Genesis will launch the latest homes at Royal Albert Wharf, in a waterfront setting at the Royal Docks on the northern bank of the River Thames. There’s a new range of one- and two-bedroom apartments set around a courtyard at The Mare Building at Riverside. With design inspired by its Docklands heritage, there are many up-to-date touches such as open-plan living and floor-to-ceiling windows, and each home comes with its own private balcony or terrace. Prices start from £78,750 for a 25% share of £315,000, with a deposit requirement as low as £7,875. There is a new two-bedroom show home to view here.

James Munson, head of marketing at Notting Hill Genesis, commented: “The last few months has really emphasised what is important to us and, with everyone spending far more time at home, the environment around us has far more impact on our daily lives. Combined with its convenient East London location, close to Canary Wharf, the Royal Docks are a waterside oasis of calm with plenty of space for spending time outdoors. The added wellbeing boost of living next to water is also a benefit and there is no better time to take advantage of this stunning location.”

The surrounding public spaces are spacious, with landscaped piazzas for socially distanced meet-ups, places to eat and drink. For those who enjoy the outdoors, there’s an extensive network of walkways and cycleways for daily exercise. Some three-bedroom properties are due for release here later this year. Find out more at www.nhgsales.com.

South Quay Plaza, E14

Berkeley Homes has partnered with Legal & General Affordable Homes for the first time to unveil a collection of 78 Shared Ownership homes at South Quay Plaza, which is situated just moments from Canary Wharf. Studio, one- and two bedroom apartments are available from £108,750 for a 25% share (full market value £435,000). A new two-bedroom show apartment with interiors by DAPA is available to view by appointment only, showcasing the excellent specification and floor-to-ceiling windows that ensure high levels of natural light. Residents will also have access to a 24-hour concierge, providing a friendly face and every-day convenience within the building.

Justin Tibaldi, divisional managing director at Berkeley Homes (Capital), said: “This pioneering partnership with Legal & General Affordable Homes will provide an affordable opportunity to live in this landmark architectural development, close to the thriving employment opportunities, amenities and attractions of Canary Wharf.”

When complete, South Quay Plaza will comprise of three elegant towers with a total of over 1,300 homes set within 2.6 acres of green space with public realm designed by HTA Architects that will include gardens, seating, play areas and outdoor artwork, with an array of flowering plants designed to attract bees, birds and butterflies. The development will also provide vibrant commercial and retail space. Find out more at www.landgah.com.

BRX, SW9

Situated in Brixton – one of London’s most eclectic districts – BRX by Network Homes has a number of one-bedroom Shared Ownership apartments still available; perfect for buyers looking for a home that is as dynamic and upbeat as its location. They have large, open-plan kitchen/living/dining room layouts, well-proportioned main bathrooms and expansive bedrooms with fitted wardrobes. Prices here start at £120,000 for a 25% share of an apartment priced at £480,000. There are balconies to all homes, landscaped communal gardens, a children’s play area, and secure bike storage.

Lisa Ley, head of sales and marketing at Network Homes, said: “The Shared Ownership scheme can be hugely beneficial to buyers who are looking to take their first steps onto the property ladder but aren’t in the financial position to buy outright. The opportunity to live in London – one of the most expensive places to live in the UK – is a dream that many people are unable to fulfil. Using the Shared Ownership scheme gives them this chance, and the stylish collection of apartments at BRX are perfect for those looking to do so.”

Find out more at www.networkhomesales.co.uk.

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