Affordable new homes for London’s singletons
By 2031, 18% of English households are expected to consist of just one person, compared to 13% in 2006. With the rise of single households, Family Mosaic is offering an affordable way for singletons to make their first step onto the property ladder in E14 through shared ownership.
Lauren Nicholson, Head of Marketing at Family Mosaic, comments: “Single households are one of the fastest growing demographic groups in the UK and it is often areas undergoing regeneration that are seeing the biggest increases among this group. East London is one area that has already started to see this demographic shift; in the most part due to the positive improvements regeneration has brought to this area of London.”
New developments such as New Festival Quarter, Family Mosaic’s flagship affordable scheme in E14, offer a safe place to live and transport links are second to none. Prices for a one bedroom apartment start from £85,750 for a 35% share of a one bedroom apartment based on a full value of £245,000.
Lauren continues: “We are seeing a lot of enquiries from single people who want to buy here which is a good sign. The area is gaining a more cosmopolitan atmosphere as the regeneration of the Olympic zone and wider area brings improvements to vast swathes of East London. There is also an overflow of people from Canary Wharf, who want more for their money but still to be close by.”
New Festival Quarter is a collection of stylish shared-ownership apartments, designed for 21st Century living, with impressive views towards Canary Wharf. It offers a range of on-site amenities including a 24-hour concierge, private gym and residents’ roof garden. Within a short walk of Langdon Park and All Saints stations on the DLR from where it is just seven minutes to Canary Wharf and nine minutes to Stratford, making it an ideal commuting base.
Family Mosaic also highlights that shared ownership is often a more accessible route onto the property ladder for singles, and can often result in considerably lower monthly outgoings compared to renting from a private landlord. Buying under shared ownership at New Festival Quarter allows purchasers to buy the share of their home that they can afford (at least 35%), and pay a subsidised rent on the remaining share of the property. They can increase their share at any time, right up to 100%.
Set across four buildings, New Festival Quarter is designed as a truly contemporary new community that echoes some of the ‘Festival of Britain’ architecture of the former Lansbury Estate where it is situated. All of the apartments feature generous external spaces in the form of terraces or balconies, some offer a dual aspect and some of the apartments feature en-suite bathrooms to the master bedroom.
Interiors are finished to a high standard, with sleek contemporary kitchens including fully integrated Zanussi appliances, stylish white bathroom suites and oak finish timber flooring. For peace of mind each home is fitted with a video entryphone system. Consideration for the environment is also taken into account, so energy efficient heating and lighting is installed, meaning lower utility bills for the homeowner.
New Festival Quarter is ideally located for shopping, nightlife and leisure time. Locally Chrisp Street Market offers an array of fresh produce, while further afield Westfield Stratford City, Europe’s largest urban shopping centre, is a shopper’s paradise. For something more relaxing, green open spaces of Bartlett Park are on the doorstep.
For further information, visit familymosaicsales.co.uk.
