Single living in Hanwell at an affordable price
For individuals looking to ease the financial ‘penalty’ of choosing to live alone, shared ownership schemes such as the one offered by Genesis at Cambridge Yard in Hanwell offer first time buyers the chance to get a foot on the property ladder without overstretching financially.
Hanwell is becoming a popular choice for single professionals seeking good value property, with strong future potential that will be boosted by Hanwell’s inclusion on the Crossrail line. But while the current average price of a one-bedroom property in Hanwell stands at £240,000 (source: home.co.uk), for many individuals raising a deposit and securing a mortgage is impossible. Equally the cost of renting is on the rise, with the average monthly rent for a one-bedroom property in Hanwell now around £1,200. Shared ownership offers a different choice – a way to escape paying London’s increasing rental rates and reduce monthly outgoings, while also being an investment in bricks and mortar.
Cambridge Yard, located on Maunder Road, offers a stylish collection of new homes, specifically designed for first time buyers. One-bedroom homes can start from as little as £52,250, for a 25% share based on a full market value of £209,000 for a one-bedroom apartment. Purchasers buy the share of their home that they can afford (at least 25%), and pay subsidised rent on the remaining share of the property, usually resulting in lower monthly costs than renting on the open market. They can increase the share that they own at any time, right up to 100%.
Designed with flexible living in mind, the one-bedroom homes at Cambridge Yard combine open plan living space and floor to ceiling windows to make the most of space and light. Each home has a private balcony or Juliette, whilst many have access to a communal or shared roof terrace.
Interiors are finished with a high quality specification, including contemporary kitchens fully equipped with integrated appliances and granite style work surfaces. Bathrooms include a thermostatically controlled shower above the bath and white floor to ceiling tiling. Built in wardrobes in the bedroom mean ample storage. Security is a high priority, with video entry phone in every apartment and secure covered car parking, as well as bicycle storage space.
The location is already ideal for commuters, located within a short walk of Boston Manor underground station for the Piccadilly Line, whilst Ealing Broadway for the Central Line is less than 3 miles away or 10 minutes by car. Hanwell railway station offers regular services into Paddington in just under 18 minutes.
When the Crossrail line opens in 2018, journey times from Hanwell station will be cut to just 10 minutes to Paddington and just 15 minutes to Tottenham Court Road. Travelling by road, there is close access to the M4, putting Heathrow Airport within a 20 minute drive. There is also an excellent local bus network.
To register your interest go to genesishomes.co.uk.