Camberwell residential scheme set to launch help-to-buy phase

Jessica Nangle

October 21, 2017

Colliers International, the global real estate advisor, is due to launch the latest phase of new residential development WING (pictured) at an event at the Oval Cricket Ground in Kennington on the 4 November.

This section of the scheme is in Camberwell comprises of 18 affordable homes in the Peacock Block, which is specifically aimed at purchasers on the help-to-buy scheme.

Through the help-to-buy scheme, purchasers can buy a one-bed affordable home from £425,000 or a two-bed, from £525,000.

The developer, Hyde New Homes, will also be paying £1,000 towards the buyer’s legal fees and will be offering all purchasers a two-year off-plan payment option. In addition, it will be paying the three per-cent buy-to-let stamp duty top-up for investor purchasers.

Ben Morris, head of new homes at Colliers International, said: “We have had keen interest in the development so far with over 40% of homes currently sold and we anticipate strong take up as well on the help-to-buy properties.

“We are noticing a rise in people attracted to the Camberwell area due to its good transport links to central London and local amenities, and this, combined with the developer’s incentive offering for purchasers and the apartments’ interior design aspects, will enable the properties to sell quickly.”

The development is due for completion in autumn 2018, and consists of 164 one to three bed apartments and penthouses of which 120 will be for private sale, 25 through the shared ownership scheme and 18 for affordable rent.

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