How homes at East River Wharf o er a wealth of top quality facilities Page 19
how NHG Homes’ Kidbrooke Square scheme o ers buyers value and security amid extensive regeneration Pages 16-18
Property in Canary Wharf, Docklands, east London buy - rent - invest - interiors - commercial
Call our team on 020 7205 4021 or email cmiller@kiddrapinet.co.uk, ypatel@kiddrapinet.co.uk or mzvarykina@kiddrapinet.co.uk Call our team on 020 7205 4021 or email cmiller@kiddrapinet.co.uk, ypatel@kiddrapinet.co.uk or mzvarykina@kiddrapinet.co.uk
£91,875
Starting price for a 25% share of a one-bedroom apartment at Kidbrooke Square’s Borsberry House
why homes at Kidbrooke Square offer value for money and an escape from the excesses of London rentsby Jon Massey
Daniel Jennings is perhaps NHG Homes’ most potent asset in marketing shared ownership properties at its Kidbrooke Square development. The senior sales executive is on something of a personal mission to spread the word about what’s available to prospective buyers, having seen the benefits for himself.
He said: “Before my current role, I was a sales account manager for big tech companies in America. I did very well, winning awards and becoming the firm’s top salesperson worldwide.
“About four-and-a-half years ago, my now wife and I bought a shared ownership property from an affordable housing provider – a three-bed in the Beckenham area with underground parking.
“I’m from west London, so I came all the way over to the south-east of the city, where the value for money is amazing –there’s the greenery, the parks and it’s away from the hustle and bustle.
“I realised how much not having that had affected me, so I wanted us to live where we could walk around and feel the fresh air.
“We couldn’t believe that a three-bed was affordable – it was a dream to us. We bought a home that’s 1,000sq ft in London and that’s what gave me an appreciation for shared ownership as a product. We were planning to get married, wanted to start a family and so we moved into the three-bed. But then the pandemic happened and I got made redundant straight away.
“We’d moved in December 2019 and I can remember thinking how lucky we were to have lockdown in this beautiful property.
“I decided I wanted a role where I could make a difference. I wanted to help other people feel like I had, so I thought I’d try to get my feet wet, joined NHG Homes and sold seven properties in my first two weeks. Since then, I’ve been promoted and now, when I talk to buyers, I don’t really have to sell.
“I just show them what we have, talk about my experiences with shared ownership and how I felt when I bought into it. Then we talk about pros and cons options and what makes sense for them, what their goals are
I decided I wanted a role where I could make a difference. I wanted to help other people feel the joy that I’d felt as a buyer
Daniel Jennings, NHG Homes
and what’s right. We really try to focus on them as people and try to find something that works. This includes thinking about location, commutes to work, the safety of the neighbourhood and whether there’s enough light and space –even which way a property faces and whether they’re a morning or an evening person.”
Kidbrooke Square itself isn’t exactly without attractions. The development, which includes a mix of tenures, is located on the doorstep of Kidbrooke station for rapid connections to Lewisham for Canary Wharf and the DLR or direct trains into the City.
The scheme features a concierge service, residents’ gym facilities and private podium gardens, alongside landscaped grounds, plans for a cafe in what’s currently the marketing suite and its own dedicated bus route.
Further benefits include being close to Berkeley Homes’ extensive regeneration of the Ferrier Estate, which has seen many local amenities arrive in the area.
These include shops, a pub, a cafe and the playgrounds and the extensive spaces of Cator Park.
Greenery nearby is something of a theme, with Kidbrooke Green Park, Manor House And Gardens, Blackheath Common, Greenwich Park and Charlton Park all within a 15-minute bike ride or halfhour walk of NHG Homes’ new properties.
Then there are the homes themselves, which feature balconies or winter gardens, open-plan living areas with wood effect flooring, fitted kitchens with Zanussi appliances and porcelain tiling in the bathrooms.
All come with high quality sound proofing, air filter technology plus communal heating and hot water systems.
They make for a compelling proposition in comparison to the prospect of renting privately. continued on page 18
NHG Homes senior sales executive Daniel Jennings has experience buying a shared ownership property in south-east London himself and now works to spread the word via his role with the affordable housing provider
from Page 17
“Shared ownership means buying a home for life,” said Daniel. “You can do what you want, no-one’s going to kick you out. You can put your pictures up, paint your walls and there won’t be any difficult conversations with landlords about rents going up.
“Being a tenant can be tough. By the time you see a property and call, it can be let, or you have to make a decision on the spot when you see it. With shared ownership there are so many options. Take someone earning £40,000 or £45,000 – if they put down a £9,000 deposit, 10%, they can get a one-bed and then feel comfortable with their income and paying their bills each month.
“Most people who are renting are sick of sinking their money into paying someone else’s mortgage. With shared ownership, you’ve got equity that you can build on and what you’re paying in rent, which is capped, is going to a good cause – it supports communities by building more affordable housing.
“Then, if you want to sell your share, you’ll get support from us and the fees will be cheaper than an estate agency. Most people –I’d say around 80% or 90% – who buy a shared ownership home are first-time buyers although you don’t have to be.
“That means we exercise patience – we know they will want us to talk them through everything and really break down all the elements of how it works.
“People have a lot of questions about how rent increases happen and why service charges can change. But these things can seem scarier than they actually are. I’m able to use my personal experience to show them that my rent, for example, might have risen £60 a month but a property in the private market might have gone up £300 or £400. That helps calm people when they have that understanding.”
key details
Shared ownership homes at Kidbrooke Square start at £91,875, £113,125 or £158,750 for 25% shares in a one, two or three-bedroom apartment respectively.
Monthly costs for the above are estimated to be £1,344, £1,550 and £2,042 including mortgage payments, rent and service charge. Go to nhghomes.com for more information or to book a viewing or call 020 4579 2974
Minimum deposit available on one and twobedroom homes at Kidbrooke Square, meaning a buyer needs at least £4,594 to invest
One, two and three-bedroom homes are available
An artist’s impression of outdoor space at
Rising rents are arguably one of the biggest pressures in the housing market right now.
According to a recent study by estate agency
Stirling Ackroyd, tenants are currently paying an average of £1,966 a month for a one-bedroom property near Canary Wharf. While wider inflation has fallen back to 2.3% and average two-year fixed mortgages have dropped back to less than 5% in May, with cheaper borrowing expected later in the year, rents are forecast to climb ever higher. One study from Savills predicts more than 6% growth over 2024. Increasingly, affordable housing providers are highlighting shared ownership properties as a less expensive alternative to renting.
Take Legal And General Affordable Homes’ East River Wharf scheme, for example. Its properties form part of Riverscape – essentially an extension of Ballymore and Oxley’s Royal Wharf development on the banks of the Thames at Silvertown.
Located roughly 15 minutes from Canary Wharf itself via the DLR and Jubilee line, these one, two and three-bedroom homes are set in a wealth of green space close to Lyle Park in a freshly regenerated part of Docklands.
Neighbouring Royal Wharf boasts a wealth of amenities including a pub, restaurants, shops and health services.
Residents will enjoy access to a health club with a gym, pool, spa and fitness studio as well as a 16th floor sky lounge with views over the Thames to Greenwich and Canary Wharf. The apartments at East River Wharf include private balconies, open-plan design and fully fitted kitchens with integrated Siemens appliances.
But, alongside the quality of the finish and the facilities, the key attraction lies in escaping the grind and uncertainty of the rental market.
A deposit of £4,844 could be enough to secure a one-bedroom home at the scheme – 5% of a 25% share worth £96,875. Monthly costs are expected to be about £1,465. By purchasing a portion of the property, a buyer can essentially secure a £387,500 apartment with no threat of eviction and all the freedoms to enjoy living in the space they might expect if it was owned outright.
In contrast to renting, purchasers of shared ownership homes are not subject to landlord inspections or controls on how they decorate their space, for example.
They also own an asset that, in continued on Page 20
