Early launch for second phase at The Quadrent in Stockwell

Due to unprecedented demand Notting Hill Home Ownership will be launching the second phase of apartments at The Quadrant in Stockwell, earlier than anticipated on 15th and 16th May 2010, providing first-time buyers affordable and stylish living in a fantastic setting close to trendy Clapham and Brixton and just 20 minutes into Central London.

The Quadrant, on a former brewery site, has been transformed into an exciting new development comprising 271 homes and nine commercial units situated around a landscaped courtyard. The second phase of shared ownership homes at the scheme comprise 64 chic one and two bedroom homes within the seven storey Acacia Court.

These apartments provide first time buyers and young professionals who have become priced out of the Clapham and Brixton housing market with a fantastic alternative in Stockwell. The area with its affordable house prices and excellent transport links, is stepping up to the mark as the new hotspot for buyers looking to get on the property ladder in South West London.

Mark Vaughan, Director of Home Ownership for Notting Hill Housing comments: “The first phase at The Quadrant was extremely popular and as a result we have decided to bring forward the launch of phase two. It is the scheme’s contemporary style and competitive prices which have attracted an influx of interest from buyers, especially those who are being forced out of neighbouring areas due to the high house prices, but at the same time don’t want to compromise on quality and design.”

The homes at The Quadrant boast modern designs and a high internal specification, offering the best of urban living. The trendy kitchens feature ceramic floor tiles, an excellent range of quality branded Whirlpool appliances, oakwood effect or white kitchen units with either blackstone or beech wood effect worktops and high gloss black brick tiling. The stylish bathrooms include ceramic floor tiles, a thermostatic shower, chrome towel rail and glass shower screen. A selection of the two-bedroom apartments also features ensuites.

Laminated flooring is already laid in the living room and fitted twisted wool carpets feature in the bedrooms. All the apartments also benefit from private or Juliet balconies, bicycle spaces and access to a communal courtyard. Limited underground car parking spaces and limited motor cycle spaces are also available for some apartments.

Stockwell is a vibrant, busy hub with many shops, bars and leisure facilities nearby. The neighbouring areas of Brixton and Clapham, which are a bus ride away, both feature their own trendy high streets and an array of restaurants, clubs and bars, with Clapham also home to the expansive Common. The entertainment and leisure opportunities of Central London are also accessible by public transport links into the early hours.

The Quadrant is superbly located for residents looking to commute both close to home and further afield. Pedestrian and cycle routes link the development between Stockwell Green and Lingham Street, while there is a frequent bus service 200m from the development. Stockwell underground station located in zone 2 and served by the Victoria and Northern Line, is 0.5km away and provides excellent links to central London in around 15 minutes. Brixton underground station is a similar distance from The Quadrant and offers London bound services to Victoria and Clapham High Street station is also close by serving Victoria and London Bridge.

Anyone living in London can apply for a home at The Quadrant. Priority will be given to people who live or work in the borough of Lambeth.

Purchasers looking to buy at the development have the opportunity to buy an affordable share of between 35% and 75% of the property’s full value and pay a subsidised rent on the remainder, with the option to purchase additional shares later on. Based on a 35% share, prices for a one-bedroom apartment start from £64,750 with a full market value of £185,000 and £79,800 for a two-bedroom apartment with a full market value of £228,000.

For a one-bedroom apartment applicants must be earning at least £23,000 (single applicant) or £27,000 (joint applicants). For a two-bedroom apartment applicants must be earning at least £26,000 (single applicant) or £29,000 (joint applicants). Applicants will also need access to at least £3,000 to cover the initial cost of buying the home, plus a deposit in excess of 10% of the share they buy.

For further information visit the-quadrant.co.uk.