L&Q Launches Shared Ownership Quarter in London’s Most Affordable Borough

Over 200 of the most affordable homes in London are being delivered in Barking, as part of on-going regeneration in the area. The 221 shared ownership homes at Weavers Quarter in Barking are the first of some 1575 new homes that will be available on the site of the former Gascoigne Estate, which is being transformed into a stunning new development complete with two schools, new high quality public open space and a new community centre.

 

The first phase of Shared Ownership homes comprises 50 one, two and three-bedroom apartments and duplexes, launched recently, are available to those who live or work in the borough of Barking and Dagenham, recently listed as one of the most affordable boroughs in London*.

L&Q Launches Shared Ownership Quarter in London’s Most Affordable Borough

Tony Harker, Sales and Customer Service Director for L&Q’s East Region said: “Barking and Dagenham is the London borough with the most Shared Ownership homes currently under construction**, and we are pleased to be able to offer high quality affordable homes in this borough.”

 

Pat Hayes, Managing Director of Be First, Barking and Dagenham Council’s pioneering regeneration company, which is working with L&Q, said: “These shared ownership homes offer terrific value. They are the first of the tens of thousands of new, high quality, affordable homes Be First will be helping to deliver in the borough.”

 

Councillor Dominic Twomey, Cabinet Member for Finance, Growth & Investment, said: “These shared ownership homes are an amazing opportunity for local people to secure a new home. They’re a real bargain for those who want to take a first step on the property ladder and a vital part of the housing offer we are making to residents across the borough.”

 

Tying in with the history of the area, the name Weavers Quarter harks back to the Barking Jute Works; closed in 1891, it was reputed to be the largest factory in the UK. The scheme was designed by Levitt Bernstein Architects; the outer façade of the six new buildings will incorporate hessian weaves into the design.

 

Design features include a Moore fitted kitchen and a range of fully integrated appliances from Electrolux; all bedrooms have Milan Granola wool-mix carpets, and bathrooms have sleek sanitaryware. Each apartment has a private outdoor area and access to communal gardens.

 

Barking station is less than half a mile from Weavers Quarter, connecting to the City in just 15 minutes. The station also connects directly to Westminster on the District Line in less than 40 minutes and to Liverpool Street on the Hammersmith & City Line in only 25 minutes, in addition to Overground services.

 

Prices for a one-bedroom apartment start from £71,250 for a 30% share with a full market value of £237,500. 

 

January 8, 2018

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