City pads within reach at Barking Central

London home buyers who feared they had been priced out of the property market can now get help at the award-winning Barking Central development.

Redrow will let them put off paying 15% of the initial asking price on selected properties in The Lemonade Building, the latest phase of this iconic scheme.

Redrow’s ‘easi:buy’ scheme gives them up to 10 years to find the balance; making home ownership cheaper and easier to achieve at this sought-after city location.

Tonia Tyler, area sales manager for Redrow Homes (South Midlands), explains: “At Redrow we understand how easy it is to get caught in the rental trap, spending ‘dead money’ on rent when you really want own a home of your own. With this in mind, we’re delighted we’ve been able to extend our own ‘easi:buy’ scheme to selected one and two-bedroom apartments at The Lemonade Building.

“It’s the ideal way for first time buyers and others who may be struggling to find a mortgage to step on to the property ladder, as they have up to 10 years to pay the deferred amount and shouldn’t need such a large cash deposit.”

With views out over the city skyline, the Lemonade Building is just a 19 minute train journey to Fenchurch Street Station from the nearby tube station and close to the new Olympic Village, which will be transformed into housing after the 2012 London games.

With easi:buy, customers will own 100% of their home from day one – but only have to pay 85% of the purchase price up front, which means one-bedroom apartments are currently available for an initial outlay from just £123,250 and two-bedroom apartments from £153,850.

“And unlike renting, where you don’t have an asset to show for your hard earned cash at the end of the day, if you purchase an apartment in The Lemonade Building and property prices rise, you could potentially find that the value of your investment has increased in years to come,” Tonia added.

As well as featuring high specification fixtures and fittings, the apartments have all of the advantages associated with being brand new – they are easy to maintain, energy efficient, kinder to the environment and protected by the NHBC 10-year ‘Buildmark’ warranty.

The Lemonade Building, a 17-storey block of 136 apartments, stands close to the spot where R-Whites Lemonade was once manufactured. It’s also the final chapter of a hugely successful regeneration story.

The wider scheme, Barking Central, has created more than 500 residential apartments, as well as prime retail space, a new state of the art library and lifelong learning centre, a hotel and the unique feature of a specially created arboretum planted with 40 mature trees. Only recently the development picked up its second prestigious Housing Design award.

For more information about the apartments available in The Lemonade Building and easi:buy, visit the marketing suite, log onto: barkingcentral.com