Over 300,000 young first time buyers will purchase their first home in 2018 with financial support from their parents. With the Bank of Mum and Dad predicted to lend a hand to even more cash-strapped offspring next year, buying a first home without parental help is becoming increasingly difficult. Notting Hill Genesis, one of the UK’s leading developers, is striving to help prospective purchasers take their first step onto the property ladder independently. Enjoying a Zone 2 location, their latest development, New Garden Quarter in Stratford, E15, offers a collection of one, two and three-bedroom apartments available to purchase with the government backed Shared Ownership scheme.
Buyers at New Garden Quarter can secure a 25% share in a one-bedroom apartment with a 10% deposit starting from £10,187. Shared Ownership offers the chance to buy a share of a home, between 25% and 75%, while paying a subsidised rent on the remaining share. Purchasers can also choose to buy additional shares in their property as and when they can afford to, right up to 100% and outright ownership through staircasing.
For work, rest or play, New Garden Quarter cleverly combines park side living with an urban lifestyle. Situated in one of the capital’s most dynamic neighbourhoods which also hosts East Village, the former athletes’ village. The development is less than ten minutes’ walk away from Stratford Underground station which is served by the Jubilee and Central lines and Stratford DLR station. Stratford train station provides direct links to Liverpool Street, Essex and East Anglia, while Stratford International offers high speed services to St Pancras International.
Set amongst two acres of landscaped communal gardens, 15-acres of parkland and 7km of paths, nature trails and walkways that make up the Queen Elizabeth Olympic Park, the development is ideal for young families and professionals seeking a home accessible to popular commuter transport links, but also surrounded by plenty of green, open space.
Jenny Murphy, Notting Hill Genesis’ Head of Sales comments: “The Bank of Mum and Dad remains a prime mover in the UK housing market, both for those wanting to move to a bigger home and those entering the housing market. With parents often coming to the aid of their children when it comes to purchasing property, many young buyers believe this to be the best possible solution available to them. However, the Shared Ownership homes at New Garden Quarter provides an ideal opportunity for young families and professionals to make their move independently.”
All of the apartments at New Garden Quarter feature a refined specification and layouts have been designed to maximise space. Floor to ceiling windows create an impressive sense of space and make the most of the natural light. All apartments will have access to a private balcony or terrace, where residents can enjoy the views of the stunning urban gardens. Sleek and modern Urban Myth Kitchens come with a range of integrated Smeg appliances. Each home benefits from bespoke fitted bathrooms and en suites as well as underfloor heating.
The largest urban shopping and leisure destination in Europe, Westfield Stratford City, is only a five-minute walk from New Garden Quarter. Residents will benefit from a selection of over 250 shops, 65 restaurants and a 17-screen, all-digital Vue Cinema. For popular cultural venues, there is the Theatre Royal Stratford East, Stratford Circus Art centre and Roof East, a cinema on top of a multi-storey car park.
Transport links are second to none. Stratford bus and train station is less than ten minutes’ walk away. Served by the Jubilee and Central lines, central London can be reached in under 10 minutes. High-speed trains from Stratford International mean residents can reach Kings Cross St. Pancras in six minutes, Canary Wharf in eight minutes, the West End in 19 minutes and Heathrow airport in 45 minutes. Opening later this year, Crossrail services will be operating from Stratford station, making commuting even easier across London.
Prices for a one-bedroom apartment start from £101,875 based on a 25% share with a full market value of £407,500. For more information, visit www.nhgsales.com, or contact Notting Hill Genesis on 020 3815 2222 to book your viewing at the brand new show home.