Barking Central offers solution for first time buyers

London based first-time buyers struggling to get onto the property ladder may now have a solution. Redrow Regeneration has launched an ‘easi-buy’ scheme specifically for first-time buyers at their landmark Barking Central scheme at the heart of Barking town centre, East London.

The scheme is available on the few remaining one bedroom apartments in the popular development of No 87 Axe Street, where stylish apartments are available to move straight into. With the ‘easi-buy’ scheme buyers pay just 75% of the price now and can then pay the remainder back anytime over the next 10 years. Furthermore, there is no interest or rent to pay back on the remaining amount, so you have no extras to pay back other than the share.

Barking Central is Redrow Regeneration’s flagship scheme for the east. Situated in a great location close to Barking Station, on the site of the old central library, Barking Central has already won a number of key industry awards for its design, including first prize for best Brownfield development and a commendation for best design for first time buyers by The Daily Telegraph. Now some parts are complete and residents have started to move in, the scheme is really coming together and a real buzz is forming in the neighbourhood.

The adjacent Travelodge, which opened in September 2008, is bringing an influx of people to the area along with the new Tesco’s which opens just this weekend (23rd May) which is a real coup for the area.

In addition, the surrounding area is only set to get even better. The scheme includes one of the Mayor of London’s top 100 Public Spaces with an arboretum set within an urban townscape in the centre of the development, designed by leading architects AHMM and MUF. Redrow is also in negotiations with a restaurant operator for the Bath House site, to be revealed shortly.

Bradley Martin, of selling agent Knight Frank, commented: “The development of No 87 Axe Street has proven especially popular with first time buyers, and now the launch of the new easi-buy scheme should really make it more accessible to an even wider audience, who may have otherwise not been able to get onto the property ladder.

“The superb one bedroom apartments feature a contemporary design ideal for young professionals. It’s an excellent location and the area just keeps getting better, as more shops and restaurants open, and more residents move in. Barking benefits from good tube and mainline links, excellent value for money and exciting future plans, making it a good bet for first time buyers and young professionals finding more central locations too expensive, yet wanting somewhere which is still easily accessible for the rest of London.”

The apartments at 87 Axe Street benefit from impressive kitchens with integrated appliances, smart wood laminate flooring and bright bathrooms. All of the available apartments have balconies. 87 Axe Street is provided with high security including CCTV cameras and internal entry phones.

Barking Underground station offers direct services into central London on both the District and Hammersmith and City lines. The overland services run directly into Fenchurch Street.

The apartments at No 87 Axe Street are priced at £160,000 for a one bedroom apartment, with prices starting from £120,000 if purchasers opt for the ‘easi-buy’ scheme. For sales information contact Knight Frank or visit barkingcentral.com.