With less than £3,500 in savings, its little wonder why almost half (43%) of young potential first-time buyers feel that getting a deposit together is the biggest barrier to buying their first home. Research has revealed the average millennial has just £3,359 stored safely away in savings[i], compared to the required average deposit for first-time buyers in London of over £90,000. However, there is another way. With deposits starting from just £10,625, keen home hunters can secure a brand new home at Notting Hill Genesis’s latest development of Shared Ownership apartments at The Volt, launching Saturday 29th September in the vibrant South London district of Brixton, SW2.
Enjoying a Zone 2 location in the heart of Brixton, Lambeth (commonly referred to as ‘the World in one borough’), The Volt comprises a collection of 14 one and two-bedroom apartments. Perfect for young families and professionals looking to get their foot on the property ladder, Shared Ownership allows buyers to purchase a share of their new home, between 25% and 75%, while paying subsidised rent on the remaining share. Purchasers can also choose to buy additional shares (known as ‘staircasing’) as and when they can afford to, right up to 100%.
Located a four-minute walk from Brixton underground station, residents at The Volt can enjoy easy travel across the capital. There is a host of eclectic landmarks on the doorstep to explore, a ten minute stroll through Brixton village to Brixton Market, and POP Brixton, home to a variety of independent street food traders, retailers and designers, is less than a mile away. Well known for its lively nightlife, the venues that surround Brixton’s iconic Windrush Square including Electric Brixton and, Prince of Wales Rooftop and Club, The Ritzy Picturehouse as well as one of London’s most famous music venues, the O2 Academy Brixton are all within walking distance.
Jim Munson, Head of Marketing at Notting Hill Genesis comments: “In today’s market, it is extremely difficult for young Londoners to find an affordable way of owning a home. Shared Ownership is a great way of alleviating the pressure of saving for a deposit, and we are really pleased to be able to offer this at The Volt. Young buyers can enjoy the rewards of owning a home located in one of London’s most dynamic and culture-packed areas – something that would otherwise be out of reach without this invaluable home ownership solution.”
All the Shared Ownership apartments have been built to a high standard and offer a contemporary specification and layout that perfectly reflects the modern city lifestyles of today. Kitchens are fully fitted with a range of integrated appliances, open-plan living and dining areas have been designed to maximise space and all apartments feature their own outdoor space in the form of a balcony or terrace.
For residents who like to explore outdoors, Brixton is not short of green spaces to retreat to, despite being located so close to the centre of the capital. Less than one mile from home is the award-winning Brockwell Park, host to the much-loved local lido, where residents can take in views of the London city skyline while having lunch and a coffee at the café. Other amenities include tennis courts, a bowling green and football pitches. Brixton Recreation Centre is a ten-minute walk away, perfect for a quick workout in the gym before or after work, a swim or participate in one of the many fitness classes available.
Commuters are well placed for travel in and around the city. Brixton train station and Brixton tube station are both a short walk from The Volt, served by the Victoria Line. From there, residents can enjoy journey times of just seven minutes to London Victoria, 16 minutes to London Waterloo and 21 minutes to Paddington. There are a number of bus routes located within walking distance of the development, with regular services in and around Brixton.
Prices for a one-bedroom apartment start from £106,250 based on a 25% share with a full market value of £425,000. For more information, contact Notting Hill Genesis on 020 3815 2222 or visit www.nhgsales.com
For further media information, please contact Emma Heaney at The Oracle Group on: 0208 394 281 or email [email protected]