Global real estate advisor, Colliers International, is due to launch the latest phase of new residential development, WING, in Camberwell, at an event at Oval Cricket Ground, Kennington, on Saturday 4 November, with this section of the scheme comprising of 18 affordable homes in the Peacock block, specifically aimed at purchasers on the help-to-buy scheme. This will enable city workers, first time buyers and buy-to-let landlords to acquire one of the properties by exchanging on only a five per-cent deposit when the development is due for completion in Autumn 2018.
WING will consist of 164 one to three-bed apartments and penthouses over 120 of which will be for private sale, 25 through the shared- ownership scheme and 18 for affordable rent.
Through the help-to-buy scheme, purchasers can buy a one-bed affordable home from £425,000 or a two-bed, from £525,000.
The developer, Hyde New Homes, will also be paying £1,000 towards the buyer’s legal fees and will be offering all purchasers a two-year off-plan payment option. In addition, it will be paying the three per-cent buy-to-let stamp duty top-up for investor purchasers.
Ben Morris, Head of New Homes at Colliers International, said, “We have had keen interest in the development so far with over 40 per cent of homes currently sold and we anticipate strong take up aswell on the help-to-buy properties. WING will attract a mix of buyers from young professionals to families, particularly from the London Bridge and Brixton areas. We are noticing a rise in people attracted to the Camberwell area due to its good transport links to central London and local amenities, and this, combined with the developer’s incentive offering for purchasers and the apartments’ interior design aspects, will enable the properties to sell quickly.”
All flats will come fully furnished with contemporary high quality fittings and integrated appliances in the kitchen; electric underfloor heating, heated tower rails and shaver sockets in the bathrooms and ensuites; a secure video entry door system with a colour monitor at the front of the property; luxury vinyl flooring in the entrance halls; condor carpets and fitted wardrobes in the bedrooms.
Buyers purchasing a one-bed apartment will need to pay £150 per year for ground rent; for two-beds it will cost £250 and for a three-bed flat, £350 per annum*. The minimum estimated service charge will be £690 and the maximum is expected to be £1,725. A help to buy option will be offered from Spring 2018.
All of the residences will come with a 10 year LABC (Local Authority Building Control) warranty and a 125 lease.
WING’s site address is 240-252 Camberwell Road. Investors and buyers are invited to its Help-to-Buy showcase event on Saturday 4 November from 10am – 2pm at Oval Cricket Ground, Kennington Oval, SE11 5SS. To reserve a place, register at www.wingofcamberwell.co.uk or call 0207 487 1710.