Wharf Life's Property Supplement, Feb 19-Mar 5, 2025

With a wealth of shared ownership options available, we pick out a selection of the best on offer...

l Poplar Riverside - P22

l Square Roots Lewisham - P24

l The Silverton - P26

l Royal Albert Wharf - P28

Typical minimum stake buyers can purchase in a property through shared ownership

SO Resi Canning Town offers shared ownership apartments within easy reach of Canary Wharf

how shared ownership offers affordable solutions to those looking to get on the ladder

by Jon Massey

It’s about educating people on what the product is and what process they will go through when buying something with us,” said Kevin Sims, director of SO Resi, part of Metropolitan Thames Valley (MTV) housing association.

As we’re running a special feature on shared ownership in this issue of Wharf Life, we thought we’d turn to an expert in the field to offer readers some clarity on the scheme and whether it might work for them.

First a few facts. The way shared ownership works is relatively simple. Buyers essentially enter into a partnership with an affordable housing supplier such as a housing association.

They purchase typically between 25% and 75% of a property, paying rent at a capped level on the rest as well as any service charges due. To be eligible, buyers in London must have a combined household income of less than £90,000 a year and not own another property. But why go down this route at all?

“A lot of people aspire to home ownership – we’d all like to live in a five-bedroom house in Kensington, but most of us can’t do that,” said Kevin who joined MTV six years ago and now looks after the organisation’s shared ownership buyers throughout their journey with SO Resi.

“While 100% ownership might be the goal, some people will only be able to achieve 50% or 75% but owning a share in a property is still better than renting.

“One of the most important things you get as a shared ownership buyer is what I call: ‘Security of tenure’. If you’re renting, you don’t own anything. Your landlord might wake up on any given morning and decide they want to sell up – you’re constantly at the mercy of a notice period and all the stress and worry that comes with an unexpected move.

“That’s not going to happen to a shared owner. There might be a situation where someone defaults very badly on their rent and mortgage, but as a housing association we’ll be there to step in and help so, unless someone’s got themselves into a real pickle, there will never be anybody saying they have to move out in a month’s time. That security is a really valuable part of the product. There’s also freedom of expression of course.

“Shared owners can decorate the property however they want –

B U Y a di erent way to

they’re more or less free to live in it like they own it outright.

It’s not just peace of mind, however. Not only is the monthly cost of a shared ownership property in east London typically cheaper than monthly rent on a comparable home, the bar to getting on the ladder is significantly lower too.

“Saving a 10% deposit for a £400,000 one-bed apartment would mean putting aside £40,000 before you consider the other conveyancing and moving costs and that’s unmanageable for a lot of people,” said Kevin. “The only way many can manage to raise a 10% deposit would be to move out of London and that just isn’t possible for some.

“But if you bought a 25% share in that property with a 10% deposit, you’d only need to save £10,000. That’s still a lot, but it’s considerably easier than buying outright.

“There’s also recently been an increase in the number of 95% mortgages available and having to only find £5,000 makes a very, very big difference.

“That allows a whole load of people who can’t buy into the housing market any other way to do so. That means they have an asset and, while people would

the spotlight

Resi Canning Town

>> There are still some shared ownership properties left to purchase at SO Resi Canning Town in east London. Prices start at £98,750 for a 25% share in a one-bed with estimated monthly outgoings of £1,371. The apartments are located within easy walking distance of Canning Town station for access to the DLR and Jubilee line, o ering direct connections to Canary Wharf, the City, London City Airport, Excel and Stratford.

Kevin said: “There’s a whole raft of reasons why your London professionals will see Canning Town as a very attractive proposition – it’s got lots of appeal to lots of di erent kinds of people. It’s been really successful as a scheme for us and you can see why buyers want to live there.”

Saving a 10% deposit for a £400,000 apartment is unmanageable for many.

Saving £10k for a shared ownership property is considerably easier

aspire to own 100% of a property, I’d certainly rather have 25% than nothing at all.

“In long term, the value of that asset will grow – nobody’s going to lose out on buying at any one of our London developments whether that’s at Canning Town, Nine Elms or Wembley. Of course there are places on the outskirts of the capital but they’re no substitute for London life, which is why people find it so attractive.

“Consequently shared ownership is a big draw for lots of people, especially those who are renting at high rates in the city.”

The journey doesn’t end with the purchase of the first share, however, with buyers able to increase their stake in a property, paying less rent as their level of ownership increases.

“The process is called ‘staircasing’ and there are lots of ways that shared owners can do that,” said Kevin. “For many years, for example, we’ve offered shared owners the option to increase their stake in a property by 1% every 12 months.

“Unlike some other housing associations, MTV under that SO Resi umbrella actively encourages staircasing and we have a big team to facilitate it.

“At present, about 8% of our shared ownership buyers own all of their home so for some it’s an aim rather than a destination.

“If somebody then wants to move out, that’s not a problem either. We are very proactive if someone wants to sell their share and it’s now a straightforward process to either market it through us or via an estate agency.”

For more information about shared ownership go to sharedownership.co.uk

Kevin Sims, SO Resi

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SO Resi director Kevin Sims

Length of the swimming pool at The Riverside Club, which offers a range of facilities for residents to use

Poplar Riverside is less than half an hour’s walk from Canary Wharf

One and two-bedroom homes are available at the Poplar development

how shared ownership homes at Poplar Riverside offer apartments at the heart of the Lea’s regeneration area

by Jon Massey

Housing association

Poplar HARCA is currently marketing a selection of 96 shared ownership properties on the west bank of the River Lea in east London. The apartments form part of the wider Poplar Riverside development, which is currently under construction by Berkeley Homes and will eventually see 2,800 residences built on the site of a former gasworks.

Plans for the 20-acre site include a new one-hectare park with green spaces, play areas and extensive landscaping, commercial space for businesses and amenities, a freshly cleared riverside walk and a secondary school.

Poplar HARCA’s collection of one and two-bedroom apartments are spread across three buildings at the development.

Prospective buyers can expect open-plan living areas, fully fitted kitchens with Bosch appliances, rainfall showers in the bathrooms, underfloor heating, fitted window coverings and private outdoor spaces.

But Poplar Riverside offers buyers more besides what’s in their own property. Residents will enjoy access to The Riverside Club, with planned facilities including a 20m swimming pool, jacuzzi and spa, a lounge area, co-working spaces, a games room and a private cinema.

“There are many reasons why

buyers should consider looking to secure an apartment at east London’s Poplar Riverside,” said Helen Mason, head of sales and marketing at Poplar HARCA.

“The developer, Berkeley Homes Group, is an award-winning company with 40 years of experience and a proven history of delivering exceptional places for people to live, work and enjoy, with sustainability in mind.

“Poplar HARCA is an award-winning Housing Association in east London, helping to create a place where people, communities and business grow and thrive.

“Our sales team takes pride in making shared ownership simple and straight forward with our staff on hand throughout your journey to make it stress-free.

“Being a shared owner is one of the most flexible ways on the market to make your home your own.”

Location is of key importance to buyers and Poplar Riverside’s situation places it at the heart of widespread local regeneration.

It’s well located for East India DLR station as well as the Jubilee Line, DLR and bus services at Canning Town.

Canary Wharf is less than 30 minutes’ walk or a 10-minute bike ride.

Just across the Lea, ecological regeneration project Cody Dock is working to understand and boost local wildlife.

There are plans for three bridges in the area to increase connection across the water and shorten

Our sales team takes pride in making shared ownership simple and straight forward with sta on hand throughout your journey

Helen Mason, Poplar HARCA

travel times to public transport stops.

Prices for shared ownership properties start at £105,000 for a 25% share of a one-bed based on a full market value of £420,000. Two-beds start at £117,500 based on a full value of £470,000.

Assuming buyers purchase with a 95% mortgage that could mean 5% deposits on those properties of £5,250 and £5,875 respectively.

key details

Poplar HARCA has two show flats for prospective buyers to view in two blocks at Poplar Riverside. For more information or to register your interest, email sales.enquiries@poplarharca.co.uk or call 020 7538 6460. Go to poplarharca.co.uk for more details

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living by the

Poplar HARCA has two show ats for prospective buyers to view in two di erent buildings at Poplar Riverside

Grand entrance: Poplar HARCA’s shared ownership properties at the east London development are spread across three buildings

The apartments feature open-plan living areas with fully tted kitchens and integrated Bosch appliances

Prices at Poplar Riverside for shared ownership properties start at £105,000

£102,500

Starting price for a one-bedroom apartment at Square Roots Lewisham in south-east London

Apartments feature open-plan design

Show homes are available to view at the development

deals

Square Roots Lewisham is located on the edge of the River Ravensbourne

Images by Matt Clayton / mattclaytonphotography.co.uk

why buyers should look to Square Roots Lewisham for accessible shared ownership homes

by Jon Massey

what’s this?

This is Square Roots Lewisham, a development in south-east London with a collection of 116 shared ownership properties available.

lovely, what’s on o er?

There are one, two and three-bedroom apartments on sale as well as duplexes. The homes feature open-plan design, fully tted kitchens and bathrooms plus private balconies or terraces as well as space for home working.

who built it?

The scheme has been delivered in partnership with a ordable housing provider Square Roots’ parent company developer London Square, providing a ordable housing to prospective buyers.

what else do buyers get?

The scheme’s shared ownership properties come with a 990-year lease and form part of a newly created riverside development that features landscaped gardens, play areas and a communal

rooftop space. The project also boasts space for retail business and o ces.

Cycle storage space has also been included, meaning residents who favour two wheeled transportation can easily take advantage of an extensive network of local cycle paths connecting the area to Greenwich, Blackheath and Deptford.

where is it?

Square Roots Lewisham is located about seven minutes’ walk from Lewisham station, which o ers direct links to Canary Wharf and the City via the DLR and national rail services respectively.

Set on the edge of the River Ravensbourne, residents will bene t from the wider regeneration of Lewisham, which has seen many homes and amenities arrive in the area in recent years.

and the quality of the scheme?

The Square Roots Lewisham scheme has won much positive recognition for its o ering.

To date, the development has collected an Evening Standard New Homes Award 2024 for Best Shared

Ownership Home, the Gold Award for Best Starter Home at the WhatHouse? Awards 2024 and Best Large Development Of The Year at the First Time Buyer Readers’ Awards 2024.

can I see it?

Yes. Square Roots has show homes on-site for prospective buyers to explore, enabling interested parties to get a feel for the nishes and location of the apartments.

Shared ownership buyers live in their properties with the same decorative rights as leaseholders, so buyers will also be free to make any non-structural changes to the interior that they wish.

what about costs?

Let’s take a look at a two-bed. The full market value of a 660sq ft apartment of the apartment in question is £525,000, meaning shared ownership buyers could purchase a minimum share for £131,250.

Assuming the buyer is able to access a 95% mortgage, they’d need a deposit of £6,563, meaning loan repayments of around £775 per month over a 25-year term.

Below market rent would be payable

on the remaining 75% of the apartment of £902, plus service charge of £174 making a total expected monthly outlay of £1,851.

At the time of going to press, this compared favourably with the vast majority of two-bedroom homes listed for rent locally either being smaller, more expensive or considerably further from the area’s transport links.

key details

Homes at Square Roots Lewisham are available now, with prices starting at £102,500 for a 25% share of a one-bedroom apartment based on a full market value of £410,000. Those interested in a home with Square Roots can either register their details via the company’s website or call 0333 666 0102 for more details

Go to squareroots.co.uk for more information or to register your interest

Scan this code for more information about homes at Square Roots Lewisham

£4,438

Potential minimum deposit on a home at The Silverton through shared ownership for those able to access a 95% mortgage

how Aster Group’s shared ownership properties at The Silverton in Royal Docks offer a more affordable route

by Jon Massey

Regular readers of Wharf Life will already be familiar with Fairview New Homes’ development The Silverton in Royal Docks. But aside from the private sale properties available, there is another way to buy an apartment at the project.

tell me more

Housing association Aster Group is marketing a selection of homes at The Silverton for purchase via shared ownership. about the partner

Aster provides a ordable housing across the south of England and in London. Established in 1990 it has around £2.4billion of social housing assets, owning and maintaining some 37,000 properties.

The group reinvests pro ts from private sale and shared ownership to support the development of a ordable homes, delivering hundreds to the market each year.

It currently has shared ownership homes on o er in 12 counties, with new and nearly new properties available.

what are they selling here?

A collection of shared ownership properties at The Silverton, ranging in size from one to three bedrooms. Prices start at £88,750 for a 25% share of a one-bed, based on a full market value of £355,000.

This development provides an incredible opportunity for many who might have thought buying in such a vibrant area was out of reach

Amy Nettleton, Aster Group

For those able to secure a 95% mortgage, that could mean a deposit of £4,438 would be enough to make a purchase.

they say...

Amy Nettleton, Aster Group assistant development director sales and marketing, said: “We are thrilled to o er shared ownership homes at The Silverton, a prime location with fantastic commuter links.

“This development provides an incredible opportunity for many who might have thought home buying in such a vibrant area was out of reach.

“It’s exciting to see how shared ownership can open doors to the property ladder for so many.”

the area

The Silverton is within easy walking distance of Pontoon Dock DLR, o ering direct connections to Woolwich, Canary Wharf and the City.

Located to the south of the Royal Docks, the area is going through extensive regeneration

at present. Further schemes will be built along the Thames, adding to Royal Wharf and Riverscape, while a massive new residential development is underway at nearby Silvertown.

Enhancing local connectivity, those plans include a new bridge across Royal Victoria Dock and upgrades to the DLR station to help cope with the expected in ux of residents.

Housing prices in the area are likely to rise over the coming years given this considerable investment and there are also bene ts from being London’s only enterprise zone – a scheme designed to attract businesses to base themselves in E16.

Local amenities are plentiful and The Silverton is also within easy reach of the Woolwich Ferry, London City Airport and conference and exhibition centre, Excel London.

key details

Shared ownership properties at The Silverton are available through Aster Group with prices starting at £88,750 for a 25% share of a one-bed.

Call 01380 735 480 to register your interest or visit the group’s website.

Go to aster.co.uk/silvertown for more information about homes at The Silverton

Scan this to nd out more about shared ownership with Aster

An artist’s impression of how

£83,125

Starting price for a 25% share of an apartment at Notting Hill Genesis’ Royal Albert Wharf development

A range of properties are available at the development with multiple ways to buy

how buyers can purchase apartments at NHG Homes’ Royal Albert Wharf development through shared ownership and also private sale

by Jon Massey

Royal Albert Wharf, sat proudly on the Thames at the eastern end of the Royal Docks, o ers prospective buyers a multitude of options. Part of a 15-year regeneration project that has seen 1,500 residential properties built in the area, NHG Homes’ scheme is an established community, connected to the capital thanks to its proximity to Gallions Reach DLR.

For the housing association, which is marketing apartments for both private sale and shared ownership at the development, it’s all about exibility.

“Royal Albert Wharf has come into its own in the past few years as a ourishing hub in the Royal Docks, which celebrates community, culture and the rich history of the area,” said Diana Alam, director of sales and marketing at NHG Homes.

“With homes available for sale and via shared ownership, buyers can explore this unique opportunity to own a home of their own in a way that suits their budget.

“We encourage those interested in buying to take advantage of our Stamp Duty incentive before April 1 and start their home ownership journey at this fantastic development today.”

take advantage of an o er

NHG Homes is currently o ering to contribute up to £25,000 towards stamp duty costs on selected homes for private sale. Buyers must reserve properties before the end of March to qualify for the incentive.

This option is suitable for buyers with larger deposits – £17,325 and up – who wish to avoid the rise in stamp duty that’s due to come in on April 1.

choosing to share

Buyers can also choose to purchase shared ownership properties at Royal Albert Wharf. The minimum deposit required for an entry level property at the development would be £4,157

assuming they can secure a 95% mortgage on a 25% share in the apartment.

Buyers can then increase their stake in the property over time through staircasing until they own their home outright. No stamp duty is payable under the scheme until their share reaches 80%, further increasing the a ordability of this route.

what’s on o er?

With the recent cut in interest rates, either route to home ownership will become less expensive as lenders reduce rates on their own deals.

Apartments at Royal Albert Wharf feature open-plan design and private balconies or terraces. The wider development boasts a concierge service, a residents’ workspace and a lounge with an on-site car club and cycle storage also available.

Parking is also o ered and comes as standard with three-bedroom homes. Local amenities include a nursery, the Well Bean Co Cafe beside dock edge, a

children’s play area, a convenience store and Cafe Spice Namaste – a restaurant by noted chef Cyrus Todiwala.

The DLR provides direct connections to the Elizabeth Line at Custom House and Canary Wharf.

key details

Shared ownership apartments at Royal Albert Wharf start at £83,125 for a 25% of a one-bed, based on a full market value of £332,500.

Homes for private sale start at £346,500 for a one-bed and £527,500 for a two-bed. Stamp duty incentives are available on selected homes. Call 020 3504 3434 or visit NHG Homes’ website for full details.

Go to nhghomes.com/royal-albert-wharf

Scan this code to nd out more about what’s available at Royal Albert Wharf

providing

Image by Uliana Slovova

Image by Tidyworks

Royal Albert Wharf is located on the banks of the Thames

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THIS IS LONDON

Situated in London’s dynamic East End, our new development in Silvertown boasts a history rich with industrial heritage, now evolving into a modern residential haven. If you’ve always dreamt of buying a home in this vibrant locality but face budget constraints, shared ownership could be your answer.

We have a selection of one, two & three-bedroom luxury duplexes and apartments which are available to reserve now from only £88,750 for a 25% share*.

At Aster Sales, we offer a wide selection of new and nearly new shared ownership homes across 12 counties.

Whether you’re stepping onto the property ladder, moving up, or downsizing, we have the perfect place waiting for you. With shared ownership, you only need a small deposit based on the share of the home you’re buying-which is much less than you’d need for a home on the open market.

You’ll get a lower mortgage, and just pay rent on the remaining share. And don’t worry, the “shared” part doesn’t mean you have to share your home with anyone (unless you want to!). Plus, you can always buy more of your home over time if you choose.

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