Bauhaus is key for key workers
Croydon’s landmark residential development, Bauhaus, holds the key to home ownership for local key workers thanks to the HomeBuy Direct scheme which is available on a selection of its chic one- and two-bedroom apartments.
Key workers are people working in vital public sector roles who are likely to be priced out of the market in the local area that relies on their expertise. They include teachers, clinical NHS staff, prison officers, police officers, firefighters and probation officers.
Bauhaus, Durkan Estates’ eye-catching development of one- and two-bedroom apartments, three-bedroom penthouses and two-bedroom mews houses, is attracting high levels of interest from key workers who are buying their first property, thanks to its proximity to Croydon’s superb rail and tram links, the properties’ high-spec finish and the affordable glamour they offer.
Zena Fish is one such purchaser. Zena, 31, teaches at a primary school in Clapham Junction and recently bought a one-bedroom apartment at Bauhaus for £155,000. She shares it with her partner who, as a prison officer, is also a key worker.
‘This is my first home and I’m delighted with it,’ says Zena. ‘But it was only possible for me to buy it because of the HomeBuy Direct deal. I had to complete an online application, and then wait until I was told that I had been accepted on to the scheme.
‘I looked at alternative key worker schemes in the same area, including one which put £50,000 towards the purchase price, but the range of eligible properties were a mess.
‘When I found the HomeBuy Direct scheme, I was very impressed by what you could get for your money. My apartment has a new bathroom and kitchen with a range of appliances and laminate flooring – a much higher specification than I had anticipated. I saw five or six apartments at Bauhaus before choosing mine.
‘Durkan were absolutely brilliant. The legal side of things took a while but Durkan pushed it through for me. They were extremely accommodating and understanding, even allowing us to move in before everything was completely finalised.’
But even Durkan can’t help Zena over her final hurdle: ‘My apartment is on the seventh floor with floor-to-ceiling windows,’ she says. ‘And I’m scared of heights.’
Bauhaus is bringing urban chic to Croydon and is proving to be a place of opportunity for a wide range of buyers. Stunningly converted from an existing office building, it features homes to suit all pockets and all circumstances, from first-time buyers to downsizers. Each property has elegance and style built in, including Lemongrass kitchens with integrated stainless steel oven and ceramic hob, luxury bathrooms, interior-designed communal areas and a daytime caretaker service. The foyer was created by the designer and sculptor William Mitchell, whose designed the Egyptian Room at Harrods and the Ritz Hotel in Paris.
The development is right on the doorstep of Croydon’s cultural quarter, where the shopping and entertainment facilities rival those of London’s West End. A short walk away is East Croydon station, which offers direct rail links to London Bridge and Victoria in under 20 minutes and, later this year, will be connected to the tube network via the extension to the East London line.
HomeBuy Direct is HomeBuy Direct is an equity loan scheme available on specific new-build properties. The scheme is administered by regional agents, who hold details of a range of properties included in the scheme by developers. Eligible buyers are offered an equity loan of up to 30 per cent of the purchase price, co-funded by Government and the developer. The balance is paid by the purchaser’s deposit and mortgage, and no repayments of the loan are made for five years.
Prices at Bauhaus start from £155,000 for a one bedroom apartment. There are currently three properties available through HomeBuy Direct. Interested purchasers can visit the Bauhaus marketing suite and showhome seven days a week from 10am to 5pm.
