Recent research has revealed that more than 40% of first time buyers are adopting extreme funding solutions to save for a home deposit¹. The alternatives included 22% considering selling shares in their future property, 19% embracing crowdfunding, 9% selling a ‘bond’ to investors and 8% selling raffle tickets for an equity share in the property once the deposit total is reached. However, buyers looking for a more secure and conventional route on to the property ladder without taking to such alternative measures, can use the shared ownership scheme
Notting Hill Genesis’ award-winning development, City Park West in Chelmsford, Essex, is soon to launch the highly anticipated second phase of shared ownership apartments, where purchasers can secure a new home to call their own with a deposit of just £9,450, making this route to homeownership an even more affordable choice.
Recently named in The Sunday Times Best Places to Live 2018², City Park West is superbly located in the heart of Chelmsford. This second phase of homes will comprise a stylish selection of one and two bedroom apartments offering the best of everything for the modern lifestyle. Residents will be able to enjoy living within a vibrant new community, with so much to enjoy only a short walk from home.
As well as being just a few minutes’ walk away from Chelmsford railway station and a town centre buzzing with both day and nightlife, City Park West is well located to enjoy a healthy and active lifestyle with a number of Green Flag Award-winning parks within easy walking distance. Central Park, Chelmer Valley Local Nature Reserve and Admirals Park are all less than one mile from the development, perfect for enjoying a leisurely riverside stroll or biking along one of the many cycle paths linking these green spaces with Chelmsford town.
Sarah Butler, Commercial Director of Genesis, commented, “Once complete, City Park West will deliver 645 new homes across a number of tenures. Residents will benefit from having easy access to a selection of new retail openings, offices and community space, all centered around a brand new public square. With Chelmsford town having undergone an extensive programme of regeneration in recent years, it is rapidly growing in popularity among young professional buyers who want an affordable home without compromising on style, quality or access to good local amenities, that’s still within a commutable distance of London. By offering the shared ownership scheme, purchasers have the opportunity to buy a home with a deposit amount that is much more achievable than on the open market.”
The contemporary interiors of City Park West include engineered wooden flooring, floor-to-ceiling windows for a light and spacious feel throughout all the rooms, and sleek fully fitted kitchens with integrated Bosch appliances. There is ample storage space, and master bedrooms come with built-in wardrobes and en suite bathrooms. Residents can also enjoy other features including underfloor heating, video entry system and a 24-hour on-site concierge service. Many apartments have access to private balconies and there is also secure underground parking available.
City Park West is perfectly located to enjoy a superb range of amenities and a wide selection of restaurants and cafés, including American steak house Grand Central, moments from the development. For commuters, Chelmsford station is less than a five-minute walk from the development, with services running into London Liverpool Street in around 30 minutes. Just 10 minutes away at Shenfield station, residents will be able to access the new Crossrail route, due to open later this year. There is a bus station with a large number of routes located within walking distance of City Park West. Access to road links couldn’t be easier; the M25 is less than a 20-minute drive away via the A12. Both Stansted and Southend airports are approximately 30 minutes away by car.
Prices for the shared ownership apartments start from around £81,500 for a 35% share of a one bedroom apartment with estimated household incomes required to buy starting from approximately £34,000.
For further information or to arrange a viewing please call 01245 806 484 or visit genesishahomes.org.uk