Shared Ownership makes purchasing a property more affordable
“I work as a personal trainer in Canary Wharf, so travelling into London every day was becoming quite tiring, I knew in the long term it wasn’t going to be sustainable. Towards the end of last year, I began looking to move, but assumed I’d be priced out of London.”
Having already owned properties in the past, Conrad spoke to his financial adviser about his options for purchasing a new home, who suggested Shared Ownership. Shared Ownership is a part buy/part rent scheme that makes it possible for buyers to purchase a property that otherwise would not have been affordable. It is a government-backed scheme launched in 2006 for people who are unable to afford to buy a home at full market value.
Shared Ownership sounded like a great opportunity
“I had accumulated some savings during lockdown, and when I heard about the Shared Ownership scheme it sounded like a great opportunity for me to get a foot back on the property ladder, particularly given my age. I was originally sceptical about being a leaseholder - I had real tunnel vision about wanting to own a freehold property, however, after doing some research I realised what I could get through Shared Ownership and it was a no-brainer."
Conrad found out about Southmere, the beginning of Peabody New Homes’ award-winning regeneration and ambitious masterplan for Thamesmead. Impressed by the development and high-quality specification of the apartments, he wasted no time in visiting Southmere to find out what was available – and ended up buying straight away.
The outdoor space and quick commute were also huge selling points
“I know a lot about the history of the area from previously living in London and have seen Thamesmead develop with Southmere really transforming the area. It has become a fantastic place over the last few years and with the arrival of the Elizabeth Line it’s a complete game-changer.”
Conrad purchased a 30% share of a one-bedroom apartment at Crane Court, the latest collection of homes at Southmere, with the location a huge draw for the personal trainer. He recognised the investment opportunity available at Thamesmead, while the outdoor space and quick commute were also huge selling points. Residents can travel on the Elizabeth Line and reach Canary Wharf in just 11 minutes, Liverpool Street in 17 minutes and Tottenham Court Road in 23 minutes†. This adds to the existing transport connections which link Abbey Wood to the rest of London.
Green space at Southmere is equivalent to four London’s Royal Parks
Having lived in Kent, Conrad valued the outdoor space and greenery in the area, but didn’t expect to be able to have this near his future city home. “I love being in nature, and coming from Kent it was all about the outdoors for me. The fact I’m in proximity to amazing green space, lakes and canals, all while being in London, really ticked all the boxes.”
At a staggering 240 hectares, homeowners at Southmere, can enjoy the equivalent green space of four of London’s Royal Parks combined – giving them access to London’s biggest back garden. Homes are also set alongside Southmere Lake, which is currently undergoing a £2.5m renovation to include a new fishing platform and Boat Club, offering paddleboarding and kayaking, sporting activities Chris is looking forward to trying in the summer months.
Conrad plans to staircase until he owns the home outright
“The Peabody New Homes team have been brilliant, answering all my questions and helping me along the way. I couldn’t be happier with my home. The finish of the apartment is fantastic and I really love that it’s brand new, with no previous owners. I’m already seeing the benefits of a new build – it feels so low maintenance compared to the other properties I’ve lived in.”
Looking to the future, Conrad plans to staircase until he owns the home outright, where he hopes he’ll be able to leave a legacy for his son.
A home at Crane Court includes access to an exclusive podium garden, and homeowners will benefit from purpose-built amenities including a concierge service, residents’ lounge, meeting rooms and workspaces.
