First time buyer finds storage solution at South Quarter
With people’s ever-changing lifestyles, housebuilders are changing the way they build homes and are creating not just developments, but urban villages which play host to numerous facilities.
New South Quarter in Croydon by Barratt Kent is a prime example of a new development which brings people together and offers purchasers not just a home, but a new lifestyle in a newly-created community. In addition to the 800 homes, proposed facilities include a nursery school, cafe, convenience store, medical centre and work units, enabling residents to sleep, work and play onsite.
The first company to move in on site is Access Self Storage, which provides 50,000 sq ft of storage space, ranging from units the size of a double wardrobe up to the size of a three-bedroom house. Units are available to both residents and non-residents.
One purchaser who has already found the storage facilities at New South Quarter extremely useful, is Colin Hall (28). “I had been renting, but my apartment was put on the market in November and my new apartment at New South Quarter isn’t due to be completed until March” said Colin. “I am staying with a friend until my new place is ready but obviously I couldn’t take an entire apartment’s-worth of belongings with me. The Access Self Storage facilities really offered the perfect solution.
“It has saved me a big headache having somewhere to store everything for the next few months. I am storing all my furniture and also a fridge-freezer and other big appliances that I’m planning to buy in the January sales. It’s ideal being able to store my things onsite - it will make moving into my new apartment so much easier.
“I bought a two-bedroom, two-bathroom apartment off-plan for £242,000” said Colin. “My apartment is really spacious – 800sq ft – and has plenty of storage space. The open-plan living area is very large and so are both bedrooms, particularly the master bedroom. It has a big cupboard which is more like a walk-in wardrobe and I’m planning on turning it into either a gym or a study.
“I do think that, once I’ve moved in, having Access on hand to store things like my suitcases, Christmas decorations and storage boxes – things I don’t use on a daily basis – will be really useful. I would definitely use Access again as it’s so handy with it being right on my doorstep.”
Nick Fenton, Managing Director for Barratt Kent, said: “We are delighted to have Access Self Storage on site at New South Quarter and the facilities really seem to be winning support from the purchasers. They are a natural complement to apartment living and a great convenience that people can access whenever they want. With apartments, you simply don’t have a garden shed, cellar or out-of-sight loft space to put those bulky items you don’t need every day, such as bikes, ski equipment or golf clubs. The additional space provided by Access is a fantastic way for residents to have all their belongings to hand, without them cluttering their home.”
Colin is a merchandiser for fashion retailer M & Co, based in Paddington. “I couldn’t afford to buy in Central London and Croydon seemed like a great location as it has such good access to the city. The development is located opposite Wandle Park tramline, which connects directly with Croydon’s mainline and tube stations; trains to Victoria and London Bridge take less than 15 minutes. I used to live in Crystal Palace and getting into London was a bit more awkward. With travel being so easy from Croydon, I plan to go to the theatre a lot more once I move. I would certainly recommend this area; it’s ideal for those who travel in and out of London a lot and want to get on the property ladder but can’t afford to buy in the centre.”
Colin purchased his apartment through the Government-backed HomeBuy Direct scheme which gives homebuyers the chance to move in for only 70 per cent of the purchase price. Barratt will match the Government’s funding pound for pound to provide an equity loan to the homebuyer of up to 30 per cent. The buyer finances the remaining 70 per cent either through a mortgage, a deposit or a combination of the two. There is no interest to pay on the equity stake for the first five years, although a small fee will be charged from the sixth year onwards.
Buyers can redeem the loan in instalments, purchasing up to 100 per cent of the equity after their initial purchase by buying additional equity at the market rate. Alternatively, if they sell their home, the equity loan is repaid by way of a proportionate share of the sale proceeds.
The scheme is open to first time buyers, key workers and others who are currently renting. People who have previously owned a home but are now unable to do so can also apply. Households eligible to take advantage of the offer will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market.
When complete, New South Quarter will be a modern urban village of around 800 new homes, situated approximately a mile from Croydon town centre. With striking architecture, imaginative landscaping and an array of facilities, residents can expect a great lifestyle in this landmark development.
Buildings will be set around courtyards and landscaped gardens. In the heart of the development, inspired by classical Italian architecture, will be a ‘Circus’; an area of open green space ideal for relaxing, having picnics or playing sports. The River Wandle crosses the site underground and Barratt’s long-term plan is to uncover it, which will provide many homes with river views.
Prices at New South Quarter start from £174,995 for a one-bedroom apartment and £206,995 for a two bedroom apartment.
For more information, visit barratthomes.co.uk.
