Affordable housing provider SO Resi has recently launched its newest Shared Ownership scheme in the capital, with 37 homes at its SO Resi Canning Town development in Newham. Eager buyers are invited to find out more at two launch events at The Crowne Plaza Hotel Docklands from 10am – 4pm on 18th & 25th May, strictly by appointment only.
The apartments at SO Resi Canning Town have all been stylishly designed with comfort in mind, offering low maintenance modern living. All homes come with Koncept kitchens and integrated Zanussi appliances, whilst the wider development offers landscaped communal areas and gardens. Offering an accessible pathway onto the property ladder, SO Resi Canning Town presents an opportunity for individuals and families to own a stake in vibrant London living.
The development will introduce 37 Shared Ownership homes, with a range of one to three-bedroom apartments and is set to hit the property market off-plan this May, with a show home following shortly in June with prices from £96,875 for a 25% share (full market value £387,500).
Shared Ownership offers lower deposit requirements and the flexibility to gradually increase ownership over time. Prospective buyers can secure a share of their desired property, ranging from 25% to 75% of its market value at SO Resi Canning Town, while benefitting from below-market rent on the remaining portion. As such, the launch of SO Resi’s new development marks a significant step towards addressing the need for affordable options in London, particularly in sought-after locations like Canning Town.
Kevin Sims, Director of Sales at SO Resi, commented: “With Newham Council’s £3.7 billion regeneration project for Canning Town, the area is quickly becoming a sought-after area of London. The unpredictability of the housing market coupled with high pricing has been putting aspiring homeowners at a major disadvantage compared to previous generations of home buyers. At SO Resi, we aim to level the playing field by offering more opportunities for Shared Ownership solutions.
“Our properties at our Canning Town development are the perfect example of this aim. Proposed plans from Newham Council means the new town centre is set to be home to a new community hub, cinema, shops, office spaces, as well as brand new Shared Ownership homes, underscoring the increased popularity of Shared Ownership as an option for prospective homeowners[1]. By choosing from our 37 Shared Ownership properties available at our SO Resi Canning Town development, prospective homeowners are set to gain a foothold in London’s property market alongside becoming a part of a vibrant and emerging community.[2]”
Canning Town is an up-and-coming area of London with excellent transport links. Canning Town Station serves both the DLR and Jubilee Line. On the DLR, residents can access Tower Gateway to the east in 15 minutes and Gallions Reach to the east within 12 minutes. On the Jubilee Line, residents can commute to Canary Wharf within five minutes and London Bridge within 10 minutes. Canning Town is also in striking distance of London City Airport for locations further afield. Plus, regular bus services connect Canning Town to destinations like Trafalgar Square, Bethnal Green, Newham Hospital, Aldgate, Walthamstow Central and Romford Market. Canning Town also boasts a diverse range of restaurants, cafes and grocery options, excellent for adventurous foodies looking to find a new home. SO Resi Canning Town is expected to launch off-plan in May, with properties ready for occupancy by the end of 2024. Prospective buyers are invited to the launch events on May 18th & 25th from the Crowne Plaza Hotel Docklands from 10am-4pm strictly by appointment only. To register your interest for this event, please visit: https://soresi.co.uk/find-a-property/so-resi-canning-town
[1] https://www.newham.gov.uk/regeneration-1/canning-town-custom-house
[2] https://www.newham.gov.uk/regeneration-1/canning-town-custom-house
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