Affordable city living for single first time buyers
Research commissioned by Lloyds TSB Insurance plc has identified that nearly two million more single households will emerge by the end of the decade, driven by young adults’ increasing desire to live alone in order to gain greater individual freedom and personal space.
Family Mosaic’s new development, Esprit Apartments, is perfect for single purchasers, who will benefit from a Zone 1 address, fantastic transport links and stylish, modern apartments with floor to ceiling windows from just £52,500 for a 25% share!
Chris Roads, Sales and Marketing Director at Family Mosaic, comments: “Esprit Apartments is perfectly placed for singles due to South London’s exciting choice of bars, cafes and shops. With the Elephant and Castle being in Zone 1, purchasers are in the heart of the capital and can benefit from all that London has to offer, whether it is work, culture or leisure. The fantastic location and modern styling are perfectly in tune with the single lifestyle. With only 14 apartments remaining, potential purchasers should move quickly!”
The study, conducted by economic and social researchers FDS International, analysed central and local government data to reveal Britain’s current and emerging single-living hotspots. It identifies a growing pool of under-35s who want to live alone.
In the past, the majority of single-dwellers were either young males or elderly widows. But this profile is set change dramatically over the decade as women’s incomes increase, female single living becomes a social norm and the gap in life expectancy of men and women narrows. Rising divorce and separation rates are also likely to have a significant impact on single occupancy patterns.
Esprit Apartments offers a collection of one and two bedroom apartments, situated on two sites called The Tower and The Pavilion, exclusively for part-buy part-rent. Both sites offer purchasers cool contemporary style with a modern specification.
The foyer to The Tower is comparable to that of a stylish hotel and comes complete with a dedicated 24 hour concierge. For security reasons, residents will have an electronic swipe card for the lifts which will only take them to their floor. CCTV has also been installed in the foyer so residents can see their guests before the concierge shows them to the lift.
Kitchens come equipped with contemporary fitted units, black granite effect worktops, stainless steel splash back, integrated stainless steel oven, extractor hood and a full height fridge freezer. Kitchens are finished with low energy recessed lighting, under cabinet lighting and engineered hard wood flooring. Bathrooms come complete with contemporary white suites, a wall mounted heated towel rail full height satin white feature Italian tiles, Bristan taps and over bath thermostatic mixer shower.
Esprit Apartments @Strata are located in the centre of London and are a part of one of the largest regeneration projects in the country spanning 70 acres. Planning permission has been granted for the creation of a pedestrianised town centre, market square, green spaces, and thousands of new homes by 2014. The Elephant and Castle will also have a brand new civic square with space for cinemas, theatres, shops, bars, cafes and restaurants in the mould of Covent Garden and nearby Borough Market. The regeneration of the area has led former US President Bill Clinton to describe Elephant and Castle as ‘a model for sustainable urban regeneration.’
The Elephant and Castle is one of London’s true transport hubs with numerous bus, train and tube routes. The Bakerloo line has journey times to Waterloo in 4 minutes and Baker Street in 15 minutes while on the Northern Line, London Bridge is also 4 minutes away and Euston just 17 minutes away.
Blackheath, Clapham, Greenwich, Shoreditch and Victoria are all about 30 minutes away by bus. As well as the tube and bus services is the Thameslink, allowing travel times of 13 minutes to King’s Cross and Blackfriars in just 5 minutes.
Esprit Apartments @Strata are being made available on a part-buy, part-rent basis. This means that you buy the share of your home you can afford, and pay a subsidised rent on the remaining share of the property. To be eligible for the scheme, you will need to be earning less than £60,000 and be purchasing an apartment as your first and only home. Priority will be given to those either living or working in the London Borough of Southwark and surrounding areas.
Prices start from £52,500 for a 25% share based on a full market value of £210,000 for a one bedroom apartment. For further information, visit espritapartments.com.
