Downsize and release cash to enjoy your retirement
Recent research by the Prudential has found that almost three quarters of the UK’s pensioners own their own home, and just over a quarter of them expect to sell their property to raise money or to make their life easier in retirement.
Of these, four out of five are planning to buy another property with most looking for something smaller and less expensive. On average they expect to release as much as £62,000 by downsizing to provide an extremely useful extra source of income.
Viridian’s latest development at Parkside in the centre of Cheam Village, Surrey is exclusively for buyers aged 55 and over and is perfect for older people looking to release some cash to enable them to enjoy retirement. This collection of 45 one and two bedroom apartments is available through outright purchase and shared ownership, with buyers able to purchase from a 60% share of their new home.
Felicity Gentle, Development Sales and Marketing Manager of Viridian Housing comments: “The homes at Parkside offer the ideal opportunity for pensioners to raise money to fund their lifestyle in retirement. They can sell their current property to release equity and buy a new apartment outright or they can purchase through shared ownership to free up cash to enable them to travel or fund their hobbies.”
Parkside is ideally situated in the centre of Cheam Village, making it the perfect spot for the over 55’s. Not only can residents enjoy all the amenities the village has to offer, including high street retailers, independent shops and a good choice of cafes and restaurants but there are also opportunities for keeping fit. The development is adjacent to Cheam Park, which is a great place for walking and cycling and there is a David Lloyd leisure centre nearby, which has a gym, swimming pool and offers a range of exercise classes. Cheam is also well placed for travel into London with the railway station within walking distance and a good bus network.
Surrounded by mature oak and sycamore trees that characterise the area and provide a strong link to the park, the development features four distinct apartment buildings and has been designed to reflect the attractive timber framed, weather boarded properties in the village.
Every apartment at Parkside has been cleverly designed to make the best use of the interior space, and features a high quality, contemporary style specification. Some properties benefit from some private outside space in the shape of balconies or terraces, some of which overlook the park and the surrounding period properties. Some parking will also be available.
Parkside is located within walking distance of Cheam railway station where services to London Victoria take around half an hour. Buses are frequent and provide services to the surrounding towns of Sutton, Epsom, Kingston and Croydon.
Prices start at £197,000 for a one bedroom apartment and from £270,000 for a two bedroom apartment. Some apartments are available through shared ownership at 60% of the full purchase price so purchasers can secure a one bedroom apartment from £118,200 and a two bedroom apartment from £162,000. For more information, visit parksidecheam.co.uk.
In addition to Parkside, Viridian is working on two other age exclusive developments. These include Halton Court in Kidbrooke Village, SE3 which features a collection of 20 contemporary two bedroom apartments for the over 55’s which benefit from a range of on-site amenities including a 24 hour concierge service, village hall, cafe bar, hair salon, internet area, spa bath, waiter serviced restaurant, gardening room, residents’ library, roof terrace and winter gardens. Prices start from £162,500 based on a 50% of a property with a full market value of £325,000. For further information, visit viridianhousing.org.uk.
At Royal Arsenal, Greenwich, Viridian will be selling 98 one and two bedroom apartments for the over 55’s through private sale and shared ownership. These properties will be launched in 2014.
