Affordable homes to help North Londoners onto the ladder

Brand new research has revealed that 86% of renters have less than a quarter of the deposit needed to buy an average first home on the open market. With average property prices in London almost double that of the rest of the country, many of the capital’s would-be buyers find themselves locked out of the market.

Genesis is providing London’s buyers with an affordable alternative at its brand new development Panavia Court in Colindale, NW9, which will be available to purchase with Shared Ownership when it launches in October.

Shared Ownership allows buyers to purchase a property with a smaller deposit, by buying between 25% and 75% of the property, and paying subsidised rent on the remainder. Residents can then increase their share at any time, all the way up to 100% and outright ownership. On the two bedroom apartments at Panavia Court, which start from £298,000, a 25% share would cost just £74,500, meaning a deposit from as little as £7,450, almost a fifth of the average first time buyer deposit of £35,354.

The contemporary one and two bedroom apartments at Panavia Court enjoy a high quality specification, with open plan living spaces filled with light, thanks to French doors to either the private terrace or balcony. Bedrooms are generously proportioned, and all apartments offer plenty of storage.

Kitchens are fitted with modern units and a range of integrated appliances, including a fridge/freezer and dishwasher. Bathrooms come fully tiled, and are finished with contemporary white sanitary ware and chrome fixtures and fittings.

A selection of apartments at Panavia Court are adaptable for increased accessibility, with wider doorways and step-free access.

As part of the wider Colindale regeneration, Panavia Court is the next phase of the already established Grahame Park, a vibrant community in North London. The site includes new urban and green spaces that will open and lift the area, and a range of local amenities including a community centre, library and supermarket, with lots of additions to the neighbourhood opening all the time. 

Away from the crowded City, Colindale is a thriving neighbourhood with many shops, eateries and leisure facilities, while nearby Brent Cross Shopping Centre has over 120 shops including John Lewis and Waitrose, all just a short journey away.

For commuters, a range of excellent transport connections are on offer. Less than a mile from Colindale underground station on the Edgware brand of the Northern Line, residents at Panavia Court have direct journeys to Bank or Leicester Square in just 31 minutes, and will have access to the Night Tube when it opens on the line in October.
Mill Hill Broadway is the nearest Overground station, which is located 1.6 miles away from the development. There are many regular bus routes in the local area, which serve Panavia Court and the Colindale community.

Prices at Panavia Court start from £74,500 based on a 25% share of the full market value of £298,000 for a two bedroom apartment. For further information or to register your interest, visit genesishahomes.org.uk.