Affordable London City Airport homes take off

Are you living or working in Newham and struggling to get on the property ladder? First time buyers, including those who work at London City Airport, will be pleased to hear of a new affordable collection of two bedroom apartments at Pier Road, North Woolwich, available through affordable homes provider, Genesishomes.

The provision of part buy and part rent initiatives are aimed at local first time buyers and airport staff, who want to have a permanent presence but are currently priced out of the housing market. Situated on the bank of the River Thames and only two minutes from London City Airport, Pier Road has homes with striking views of one of London’s most famous landmarks from just £53,890 for a 25% share!

The stylish new collection of 39 two bedroom apartments are set in two different blocks, offering spacious living at an affordable price. Apartments at Pier Road are furnished to a high standard with dark walnut coloured wall units, satin white ceramic tiled walls around worktop and an Indesit electric oven, gas hob and integrated extractor hood in the spacious kitchen area.

All apartments have balconies, some with views over the River Thames and towards London Docklands, key fob entry system, bicycle storage and separate storage cupboards. Some apartments also have an individual room for a washing machine. Bathrooms come with ceramic gloss white tiling around bath area and a large vanity mirror.

Located within the historic Royal Docks, Pier Road provides modern, sophisticated living in an area steeped in history. The world’s largest enclosed docks were once a prime destination for ships from around the world bringing in luxuries such as cotton and spices, while the modern day docks have been transformed into an exciting array of leisure, educational and commercial establishments.

Nearby, Canning Town offers state-of-the-art sporting facilities, while Royal Victoria Gardens and the stunning Thames Barrier Park offer acres of green space. For shopping, bars, restaurants and pubs the O2 Arena, Canary Wharf, Blackheath and Greenwich are a short distance away.

King George V DLR station is a couple of minutes walk from Pier Road and offers regular services to Woolwich Arsenal, London City Airport, Canary Wharf and Bank in less than half an hour.

All of the properties are available on a shared ownership (part buy/part rent) basis. This enables people to buy a share in the property and pay a subsidised rent on the rest.

To be eligible, these apartments must be the buyer’s first property purchase or their only home. Their household income must be less than £60,000 per annum and they will need savings of around £3,500 to cover moving and legal costs.

Buyers can also buy additional shares as and when they can afford to do so.

Prices start from as little as £53,890 for a 25% share in a two bedroom apartment at Pier Road based on a full market value of £215,560. For more information, visit genesishomes.org.uk.