With the average house price in Zone One London now a staggering £1,507,050, according to property portal Rightmove, affordable housing provider SO Resi has just launched 57 Shared Ownership homes at their newest development in Nine Elms, Wandsworth.
Located in London’s tallest residential building, all apartments provide sleek and stylish living, with open plan main rooms and some homes with river views and private winter gardens. Internally, each property comes complete with integrated Bosch appliances and carefully considered living areas to maximise space. All residents will also have access to the panoramic viewpoint on the 58th floor of the building, with stunning views over central London and the River Thames.
With Wandsworth Town Council recently announcing a target to deliver 50% affordable housing on all new schemes, SO Resi One Nine Elms is contributing to this goal with the chance for buyers to purchase a home in one of London’s most extensive regeneration areas. With prices starting at £158,750 for a 25% share, deposits could be as low as £15,875, lower than the average property price in the area. The first residents will be expected to move in from late summer.
Kevin Sims, Director of Sales at SO Resi, comments: “Affordable housing options in the capital are already limited, but in Zone One, they are truly a rarity. With the market remaining hard to predict and house prices proving to be stubborn, it comes to no surprise that Shared Ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low five per cent deposit requirement. At SO Resi One Nine Elms, a deposit starts from just £15,875 which is a far more achievable goal for many aspirational first-time buyers who aspire to live in central London.
“Wandsworth Council’s regeneration programme means 20,000 new homes are being built in Nine Elms, however few are at accessible price points. Wider amenities in the area are also seeing significant investment, including both Battersea Power Station and Nine Elms underground stations which opened in 2021. The area is an appealing location for young people, and we expect to see strong demand for new homes here already, as first time buyers look to this rare opportunity.”
Once the wider development is fully complete, One Nine Elms will boast two residential towers – the River Tower and City Tower, linked together with a foot bridge. Inside, there will also be a range of shops and eateries, split across a vibrant piazza for residents to enjoy at all times. The Grade II listed Battersea Power Station is also a short 10-minute walk away, boasting more shops and eateries, a cinema, and the Chimney Lift offering views of the London Skyline. Green open space is also plentiful, with residents spoilt for choice with Vauxhall Pleasure Gardens, Pedlar’s Park and Battersea Park.
Sandwiched between two Zone One underground stations of One Nine Elms serving the Northern Line and Vauxhall serving the Victoria Line, commuters are truly spoilt for choice with options to get into the City of London. An excellent network of buses also serve the surrounding area, with a new plethora of cycle lanes and pedestrian footpaths for journeys on foot, including a new footbridge over the River Thames.