According to a recent report, budding first time buyers looking to purchase their first home could face over 11 years of saving for a deposit. Aspiring purchasers keen to step onto the property ladder sooner rather than later in Chelmsford, Essex, can purchase a brand new home at City Park West, with the help of the Shared Ownership scheme. Leading developer Notting Hill Genesis, have recently launched the highly anticipated final phase of homes at City Park West, providing a selection of stylish apartments a stone’s throw away from everything this sought-after Essex town has to offer, and still only half an hour from London.
Forming part of an exciting new community served by a network of new walkways and cycle paths, this phase of homes at City Park West will deliver over 300 new properties comprising a contemporary collection of one and two bedroom apartments in a mixture of layouts and sizes to suit a variety of lifestyles. Ideally located in the heart of Chelmsford town centre, the homes at City Park West fit seamlessly into this trendy and cosmopolitan area, while still remaining sensitive to the historic charm that is echoed throughout Chelmsford City. Offering a dynamic architectural design, City Park West also includes a compilation of new commercial and retail premises alongside a number of open communal spaces, perfect for residents to enjoy some quality time with friends and family or take in the views of Central Park and River Chelmer, only a few minutes from the development.
The Shared Ownership scheme at City Park West gives buyers the opportunity to purchase between a 40% and 75% share of a property paying a subsidised rent on the remainder. With prices starting from £94,000 for a 40% share, and provided they can afford to, purchasers can increase their share at any time, all the way up to 100% and outright ownership. Even better, the minimum ten per cent mortgage deposit is based on the value of the share purchased and not the full market value, providing an ideal solution for first time buyers to purchase a home.
Sarah Butler, Commercial Director of Notting Hill Genesis, comments: “With average property prices in Chelmsford now over £375,000 according to Zoopla, and house deposits fast becoming an unreachable target for many first time buyers, this highlights the importance of having options like the Shared Ownership scheme available. The new phase of homes at City Park West provide an affordable way for buyers to own a property, offering a selection of high specification homes with competitive on site facilities, located in a very popular area with access to some fantastic amenities, all only half an hour from the capital. With deposits starting from £9,400 we would advise purchasers to register their interest as soon as possible to avoid disappointment.”
The homes available with the Shared Ownership scheme benefit from a selection of spacious layouts, featuring floor to ceiling windows allowing light to flood into all of the rooms, as well as open-plan lounge and dining areas, complemented by sleek, individually designed fully-fitted kitchens with a selection of integrated Bosch appliances. Bathrooms are fitted with Duravit sanitary ware and chrome fittings and generously sized master bedrooms come with their own en suite, and many with built-in wardrobes. Residents can also enjoy features including underfloor heating, video entry system, a 24-hour on-site concierge service on-hand to accept deliveries, a dedicated property manager and for an additional fee there is also a cleaning service. Many apartments also have their own private balcony and secure underground parking is available.
Residents at City Park West have easy access to a wide selection of amenities all within walking distance of the development. American steak house, Grand Central, is moments from the development, while for more of a traditional dining experience, there is a selection of gastropubs including the Fox and Raven or enjoy a variety of craft beers on offer at the hipster Ale House. Chelmsford’s town centre is a few minutes away with a fully-pedestrianised high street that links High Chelmer and The Meadows shopping centres, along with open-air retail and leisure development, Bond Street, which is host to many luxury brands, including a John Lewis. There is a variety of independent shops and boutiques that line Moulsham Street, while Chelmsford’s indoor retail market in Bellmead offers an eclectic mix of street food and seasonal markets.
Commuters are well placed for use of Chelmsford station, located adjacent to the development, offering services running into Liverpool Street in around 30 minutes. 10 minutes away at Shenfield station, residents will have access to the new Crossrail route, due to open later this year. There is a number of bus routes located within walking distance of City Park West, with regular services travelling in and around Chelmsford. Access to road links couldn’t be easier; the M25 is less than a 20-minute drive away via the A12. Both Stanstead and Southend airports are approximately 30 minutes away by car.
Prices for a one bedroom Shared Ownership apartment at City Park West start from £94,000 based on a 40% share of the full market value of £235,000. For further information or to register your interest please call 01245 806484 or visit www.cityparkwest.co.uk