While the cost of living and rent increase, some new opportunities for affordable housing arise. Thanks to a large regeneration project at Hendon Waterside, in London Zone 3, the new development for Shared Ownership has recently been launched: SO Resi Hendon Waterside.
Kevin Sims, director of sales at SO Resi, commented: “The average cost of a first-time buyer deposit in London continues to rise, so it is little surprise that many young people feel priced out of buying a home in the capital. Shared Ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low 5% deposit requirement. At SO Resi Hendon Waterside, prices start from £84,375 for a 25% share which is a far more achievable goal for many aspirational first-time buyers.
“Hendon is an appealing location for young people, thanks to its fantastic amenities, excellent connections and most importantly, a more accessible price point when compared to other London postcodes. We are especially looking forward to introducing our larger three-bedroom duplex apartments, which offer a unique chance for families looking for more space in the capital to make use of the shared ownership scheme. Previously, we have seen extremely strong demand on homes at this development and predict this phase to be no different as first-time buyers look to escape the rental trap and get onto the property ladder.”
Hendon Waterside forms part of the wider £9.6 billion north-west London regeneration scheme by Barnet and Brent Borough Councils. The development sits in the heart of the Welsh Harp Reservoir which offers scenic trails, waterside footpaths and green sheltered woods for residents to enjoy. For retail options, the borough’s rejuvenated Broadway has seen a range of well-known shops, bars, and restaurants open in the town centre. Further afield, Brent Cross Shopping Centre is just a five-minute drive away.
Located in Zone 3 on the London Underground, the development has excellent transport links offering services from Hendon railway station, which is just a short walk from the development, and Hendon Central Tube station, reaching central London via the Northern line in under 20 minutes. Road connections also will serve residents well, with the M1 and M25 motorways within easy reach, and Heathrow Airport approximately half an hour away.
SO Resi Hendon Waterside offers a collection of 42 studio, one and two-bedroom apartments and two to three-bedroom duplexes available through shared ownership, with prices starting from ££84,375 for a 25% share in a studio home (based on a full market value of £337,500). Find out more at sharedownership.co.uk.
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Written by the SO Resi In-House Team