The number of shared ownership purchases has increased by over 130% since 2011, according to conveyancing provider My Home Move, with the majority taking place in London and the south east as property prices soar. First time buyers and those keen to move up the property ladder in Chelmsford, Essex, can now purchase a new shared ownership home at Beaulieu, a joint venture between L&Q and Countryside. Launching 25th March, East Thames is providing the shared ownership properties on site, selling thirteen one and two-bedroom apartments and two-bedroom houses, available for those living or working in Chelmsford.
Beaulieu, is a vibrant new district in north east Chelmsford, featuring contemporary architecture and landscaping inspired by the town’s rich local heritage. Set around the majestic New Hall School, formerly King Henry’s Tudor palace and its estate parkland, the wider development is conceived as a series of individually designed neighbourhoods that connect to the wider landscape and countryside.
Within the new community, which is served by a network of walkways and cycle paths to reduce the impact of cars, just thirteen shared ownership homes are available through East Thames with prices starting from £55,625 for a 25% share. For buyers who can’t afford a full mortgage, shared ownership offers the chance to buy a share of a home, between 25% and 75%, while paying rent on the remaining share. Buyers can then buy additional shares on their property as and when they can afford to.
Tony Harker, East Thames’ Director of Sales & Marketing comments: “With average house prices in Chelmsford now over £325,000 according to Rightmove, it’s no wonder that solutions like shared ownership have grown in popularity in recent years. Following the success of our recent St John’s Court scheme, we’re now offering the opportunity to buy in another of the town’s vibrant new developments, for less. We advise purchasers to register their interest as soon as possible in order to avoid disappointment.”
The shared ownership homes benefit from an extremely high specification throughout. Kitchens are contemporary in style, fitted with Symphony Koncept units with brushed nickel bow handles, Conran ceramic floor tiles, stainless steel Electrolux oven and hob, along with a Zanussi washing machine, fridge freezer and dishwasher. Bathrooms feature white Roca sanitary ware, thermostatic showers, ceramic floor and wall tiles and smart chrome accessories. Carpets run throughout the bedrooms and living areas, while built in mirrored wardrobes offer an abundance of storage space. All homes benefit from an allocated parking space.
Beaulieu offers a wide range of facilities including two new primary schools and a secondary school, community, health, sport and retail amenities, together with an extensive network of parkland and green open spaces. Chelmsford town is also packed with things to do, with two swimming pools, an ice rink and a state of the art gym, as well as excellent quality schools including King Edward VI and Chelmsford County High School for Girls, both of which are among the UK’s top twenty state secondary schools.
Beaulieu’s excellent transport links are also a considerable draw, located just three miles from Chelmsford railway station which whizzes passengers in London Liverpool Street in just 34 minutes. The development will benefit from its own railway station by 2022, offering direct links to London. Beaulieu is also just moments away from the A130, linking to the A12 in around 10 minutes and the M25 in 20 minutes.