THE ANTICIPATION is almost over as hosing provider Derwent Living prepares to open its show flat at The Embankment – Nottingham’s most modern and original new affordable housing scheme.
This will be a chance for would-be purchasers to take a first look at what The Embankment has in store. First-time buyers and people struggling to get on the property ladder are keen to see what the development has to offer, says Karen James, commercial sales manager with Derwent Living.
Karen says that that there has been a “huge interest” from people wanting to buy one of the houses at the affordable housing development by the River Trent.
Work began at the end of 2006 on The Embankment, off Robin Hood Way. The brand new scheme will take road names from the former buildings which were on the site – the Cremorne Hotel and Meadowbank Day Hospital.
The development comprises eight one-bedroom apartments, 23 two-bedroom apartments, as well as three two-bedroom houses, 13 three-bedroom houses and one four-bedroom house – all of which will be available under a popular part-buy, part-rent scheme from Derwent Living.
Steve McDonough, commercial director at Derwent Living, said: “The development will be very popular. It combines apartments with houses and is situated in an attractive part of the city by the river and close to local amenities.”
According to the Land Registry, the average price of an apartment in Nottingham city is £138,710 and the average price for a detached house is £214,080.
“These prices are way above the reach of first time buyers,” says Mr McDonough. “That is why developments such as The Embankment are attracting the eye of people who want to get on the property ladder.
“The development will provide much-needed affordable homes locally. They will be available through the Government’s New Build Homebuy initiative and will be sold on a part-buy, part-rent basis under Derwent Living’s Easy Living brand.
“This allows people to buy 50% of the property and pay a rent on the remaining half. Easy Living is a great way for people to get a first step on the property ladder and allows them to buy more equity when they can afford it.”
Derwent Living says that the properties are now available to reserve. Prices for the apartments start from 52,500 for 50% of the property, with a rent and service charge on the remaining half, and the houses start at £62,500 for a 50% share, with rent and service charge payable on the remaining half.
The Embankment show flat will be opening mid February. To arrange a viewing or for more information call 0845 600 3279 or visit www.derwentliving.com
See Also: Press Releases (371)
Date Published: 30 January 2008
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