Modern Woman

February 20th, 2019 by

Evening Standard

December 4th, 2018 by

Help to buy London:the best boroughs to buy property through the scheme

Become a first-time buyer nomad and search for your new home among the rich choice in the outer boroughs.

London today is full of tenants who can’t afford to buy the sort of place they rent.

Ten years ago a young professional would arrive in the capital, often following friends, and share a rented flat before getting on the housing ladder by buying nearby in an area they had grown to love.

However, property price rises and sluggish wage growth in recent years have created a new era: that of the nomadic first-time buyer.

Tenants who are wannabe homeowners must now be prepared to cross Greater London to seek out the best deals, often enticed by the government-backed Help to Buy scheme, into areas they have neither knowledge of nor affiliation with.

HELPTOBUYGREENWICH.jpg
From £395,000: homes at Callis Yard in Greenwich. Call 020 8854 6475

Here, we take a look at the areas appearing on buyers’ radar thanks to Help to Buy.

HELP TO BUY: CHEAPEST AND MOST EXPENSIVE BOROUGHS

The average Help to Buy property in London costs £410,000, according to Savills.

The scheme allows buyers to purchase a property with a five per cent deposit and a 55 per cent mortgage. The remaining 40 per cent is provided by the state as an equity loan, which remains interest free for the first five years.

The scheme is at its most expensive in Hammersmith & Fulham, where the average Help to Buy home costs £552,654. Homes are cheapest in Bexley in south-east London at £210,308 on average.

The scheme, which has been extended to run until 2023, is more common in the outer boroughs, where land values are lower for the developer and there’s more room to build.

Applications to build in both Zone 1 and Zone 2 have fallen six per cent since 2009 to 10,479, while applications to build in the outer boroughs have grown 120 per cent over the same period, according to data from property consultants JLL.

“Help to Buy availability is usually a sign of much larger efforts to regenerate areas, providing an economic boost alongside much-needed new homes,” says CBRE chief Mark Collins.

“Improved transport links are giving first-time buyers more choice. They can move to areas within their price points, without the disadvantage of a significantly longer commute.”

THE HELP TO BUY TOP 10

New research, exclusive to Homes & Property, has revealed the boroughs with the most Help to Buy sales in the last year.

Barnet tops the table, followed by Havering, Greenwich, Hillingdon and Lewisham. The research by CBRE gives the rest of the top 10, in order, as Croydon, Tower Hamlets, Bromley, Barking & Dagenham and Bexley.

Barnet has the most expensive Help to Buy properties in the top 10. Its average Help to Buy price is £468,289 compared to the average house price of £556,761.

These values are driven by location: Barnet is well connected with 13 Tube and Overground stations and good train links.

More than 2,500 homes are under construction but there are extensive pockets of greenery, such as the Hampstead Heath Extension.

“This corner of north-west London is close to green open spaces, with a countryside feel,” says Michael Fisher of Savills.

“The borough also has three golf clubs and an equestrian centre, so there is a real sense of being able to follow country pursuits while working in the West End.”

He recommends pubs such as The Bohemia in Finchley or The Rising Sun and Adam and Eve in Mill Hill. The regeneration of Brent Cross Shopping Centre and surrounding area will bring yet more homes, retail and amenities.

BARNET

Savills is selling a range of homes, from one-bedroom flats to four-bedroom townhouses, at The Claves in NW7.

The development, a third of a mile from Mill Hill East Tube, is part of the Millbrook Park masterplan which will deliver 2,000 new homes and a new primary school. There is a residents’ garden, concierge service, gym and cycle store.

Prices start from £425,000 for a one-bedroom flat. Call 020 7409 8756 for more details.

NewHomesHelptoBuy5.jpg
Prices from £425,000: for a one-bedroom flat at The Claves, NW7

CROYDON

Croydon council-owned developer Brick by Brick offers homes to locals first but after the initial two-month period sees first-time buyers coming from the more expensive neighbouring boroughs of Southwark and Lambeth.

“Help to Buy is certainly a factor in attracting people to new neighbourhoods where they have no previous ties,” says Colm Lacey, managing director of Brick by Brick. “Some are even moving from north of the Thames.”

Brick by Brick has planning permission to build 15 two- and three- storey houses and 15 new flats in Upper Norwood.

The average Help to Buy home in Croydon costs £393,703.

NewHomesHelptoBuy15.jpg
£393,703: the cost of an average Help to Buy home in Croydon, where schemes such as this one offer new homes by the council-owned development company Brick by Brick

TOWER HAMLETS

Help to Buy in combination with other incentives can also tempt wannabe homeowners into an unfamiliar part of town.

A new apartment in Bow Garden Square in E3, by Telford Homes, comes with free furniture, as chosen by Hatch Interiors, worth £5,000 this Christmas.

Prices start from £390,000 for the 83 one-, two- and three-bedroom apartments which are built above a new primary school. Call 020 8023 8751 for more information.

A stamp duty holiday for first-time buyers is another common offer.

NewHomesHelptoBuy8.jpg
From £390,000: the 83 one-, two- and three-bedroom apartments in Bow Garden Square, E3. Call 020 8023 8751.

But even with a little help from the Government and some seasonal goodwill from the developers, first-time buyers in London today need deep pockets and an open mind to breaking new ground to get on the housing ladder.

HACKNEY

First-time buyers Jack Rawlings, 27 and Rebecca Johansson, 24, thought they would be priced out of Hackney, but Help to Buy has allowed them to stay.

They have bought one of five new flats in a Grade II –listed Georgian townhouse at NestEast’s scheme, 15 Clapton Square.

“Help to Buy definitely made the purchase happen for us and we decided to take the 20 per cent interest-free loan, which has given us the opportunity to get a foot on the ladder,” says Jack.

Local transport links appealed, along with the close proximity to greenery with the Lee Valley.

Trainee architect Rebecca was attracted to the building’s period features, including pilasters, sashes, panelled doors, porches, cast-iron balconies and extra-high original Georgian skirting boards.

NewHomesHelptoBuy18.jpg
Not priced out: Jack Rawlings and Rebecca Johansson bought  at 15 Clapton Square in Hackney (Elaine Sutton)

WALTHAM FOREST

Interior designer Seniz Gokdemir and recruitment manager Sam Jaffe, both 30, were renting a one-bedroom flat in Enfield Chase but wanted to upsize.

Using the London Help to Buy scheme, the couple took their first step on to the property ladder with a three-bedroom duplex flat in Waltham Forest at Endeavour, the Fairview New Homes development in Highams Park E4.

“We had been saving for several years but once we discovered how London Help to Buy could help us shrink our deposit, we thought it would be the best way on to the property ladder and we turned our attention to new builds,” says Seniz.

Two-bedroom apartments at Endeavour are priced from £385,000. Call 020 3918 4606.

NewHomesHelptoBuy16.JPG
East is best: Seniz Gokdemir and Sam Jaffe bought at Endeavour, Waltham Forest

STRATFORD

For some tenants Help to Buy is the only affordable access to a home in the capital. Michael Chinaloy, 28, was living in Essex. After saving for a deposit for seven years he bought in Legacy Wharf in Stratford E15.

“I was rather frugal with my money, investing it smartly and putting aside a large percentage of my salary every month to obtain a sufficient deposit. I always said I wanted a large enough deposit so that the monthly repayments would not change my current lifestyle,” says the software engineer.

He paid £389,500 for his one-bedroom apartment with a balcony on the fourth floor.

Legacy Wharf is a collection of one-, two- and three-bedroom apartments with a gym and a concierge service, amid shops and landscaped gardens.

NewHomesHelptoBuy1.jpg
London pad: Michael Chinaloy bought in Legacy Wharf in Stratford E15 (S Saunders / Digital Nation Photography)

“The apartments were priced competitively with good incentives for first-time buyers. I also really like the location,” says Michael.

Prices at Legacy Wharf start from £386,500. Call Bellway Homes on 020 3092 9383.

Read full article here

Development Finance Today

November 21st, 2018 by

Terry Woodley

Shawbrook to fund redevelopment of former hairdressing academy


Shawbrook Bank has provided a £4.7m development finance facility to NestEast as the latter undertakes its latest project in east London.
The new scheme – located at Cambridge Heath Road in Hackney – will see the redevelopment of a former hairdressing academy into nine brand new loft-style apartments with a large rooftop garden.

The boutique property development company hopes to complete the development – its largest project to date – in the latter half of 2019.

Zuzie Poskitt, managing director at NestEast, said that it was thrilled to have worked with Shawbrook on this project.

“[It has] proved to be a flexible, creative lender and [has] shown great commitment to unlocking the potential of this quirky site, which we are so passionate about.

“We look forward to working with them again on future projects.”

Terry Woodley, director of development finance at Shawbrook (pictured above), added: “The Cambridge Heath Road development is an exciting location and NestEast is a growing developer with a great ethos, a real focus and a commitment to creating brilliant new homes.

“This is exactly the sort of development we want to support and look forward to seeing the project evolve.”

Read full article here

Growth Business

November 21st, 2018 by

Boutique property developer secures funding for East London scheme

Scheme will allow NestEast to create nine new apartments and a rooftop garden for prospective buyers.

 NestEast's website homepage: Loved by hipsters

NestEast’s website homepage: Loved by hipsters

High-end property development company NestEast has secured £4.7 million in development finance facility for its latest project in East London.The new scheme in Cambridge Heath Road, Hackney involves redeveloping a former hairdressing academy into nine brand new loft-style apartments with a large rooftop garden.NestEast hopes to complete the development in late 2019, made possible by private equitybacked Shawbrook Bank, which also supplies venture debt to growing businesses.What is NestEast?

NestEast was formed in 2005 and has completed a range of turnkey new-build schemes across East London. The Cambridge Heath Road development will be the largest project the company has done to date.

Zuzie Poskitt, managing director at NestEast says, ‘We are thrilled to have worked with Shawbrook Bank on this project. They have proved to be a flexible, creative lender and have shown great commitment to unlocking the potential of this quirky site, which we are so passionate about. We look forward to working with them again on future projects.”

Terry Woodley, director of development finance at Shawbrook Bank says, ‘The Cambridge Heath Road development is an exciting location and NestEast is a growing developer with a great ethos, a real focus and a commitment to creating brilliant new homes. This is exactly the sort of development we want to support and look forward to seeing the project evolve.’

Read full article here

What House

July 25th, 2018 by

No 15 Clapton Square by NestEast – Show Home Room by Room

Posted 25 July 2018 by Helen Christie

WhatHouse? takes a tour of this three-bedroom duplex show apartment at Clapton Square in Hackney from boutique developer NestEast…

Boutique developer NestEast is proud to unveil a newly dressed three-bedroom duplex show apartment at its stylish scheme, No 15 Clapton Square in Hackney. Aimed at families, the new apartment benefits from 956 sq ft of living space as well as its own private rear garden.

The striking apartment is set within a fully restored Grade II listed Georgian townhouse, which provides just five properties, each one with its own unique design and layout.

NestEast has combined historic details with modern Scandinavian interiors by leading designers, Inkfield, to create a home which is aimed at those looking to upsize to a more generous home and benefit from being situated on one of London’s oldest garden squares and part of a village-style community.

No 15 Clapton Square (NestEast)Kitchen: The ground floor provides a vast kitchen which benefits from full height Georgian sash windows which look out onto Clapton Square and allow floods of light into this well-proportioned new home. Full-height kitchen units provide plenty of storage and a feel of grandeur and quality and are completed with Corian worktops, fully integrated appliances, plus a wine cooler and industrial naked bulb light fittings.

No 15 Clapton Square (NestEast)Bedrooms: The master bedroom sits on the ground floor, and features a curved wall and beautiful views onto the newly landscaped rear garden. The second bedroom is also on the ground floor, and the third floor provides a third bedroom and a generous en-suite. The rooms offer high quality engineered European rustic oak flooring with 207mm-wide planks throughout and the apartment is finished with pale grey walls and stand-out Scandinavian style furnishings.

No 15 Clapton Square (NestEast)Master bathroom: The master bathroom comes complete with Duravit sanitaryware with Grohe taps and fittings. It has beautiful Henley Fog period style floor tiling and classic off-white wall tiles. It features designer chrome towel rails and bespoke mirrored cabinets.

No 15 Clapton Square (NestEast)​Original features: The owners of the apartments at No 15 Clapton Square will enjoy a grand reception when they arrive home. The restored double-height entrance hall features an original sky lantern, grand chandelier and an open Georgian staircase. A key design of the Georgian era, the staircase had previously been hidden away and blocked in. NestEast worked tirelessly to retain as much of the original features as possible, working closely with the listed heritage experts to deliver this vision. 15 Clapton Square retains original features such as leaded fan lights above doors, pilasters, sash windows, six-panelled doors, columns, porches, ornamental cst-iron balconies and original extra high Georgian skirting boards, restored by renowned architects Merritt Design and heritage specialists.Zuzie Poskitt, managing director at NestEast comments: “We are delighted to unveil the stylish three-bedroom apartment at 15 Clapton Square. Hackney has a real village feel and a community and is not only popular with first time buyers but also families who are looking to upsize and be part of a vibrant exciting community.”

Clapton Square is one of the grandest addresses in Hackney. Designed in 1816 for wealthy Londoners seeking peace and quiet away from the hustle and bustle of the city, it has been designated a conservation area and retains a peaceful village-like feel despite the buzz of the surrounding area. No 15 offers buyers a rare combination, a Grade II listed status home with a 10-year Buildzone Certificate.

It also boasts first-class transport links with Hackney Central (Overground) a seven-minute walk away and both Highbury and Islington and Liverpool St just ten minutes away by train.

The three-bedroom show apartment is priced at £735,000. For further information about No 15 Clapton Square, please visit 15claptonsquare.com or contact the sales agent, Bridge New Homes on 020 77491380. For further information about NestEast please visit nesteast.com.

Read more here

Evening Standard

June 29th, 2018 by

Gorgeous Georgian:Hackney garden square conversion brings Scandi-style flats to Clapton

A Georgian home in Hackney’s second largest garden square has been converted into apartments with a hint of Scandi design.

Graceful Georgian Clapton Square, historically the home of senior merchants and financiers, is the second-largest square in Hackney, with a central garden surrounded by elegant, listed period houses, some of five storeys.

One of these large properties has been split into apartments, including duplexes and three-bedroom family flats.

The restored double-height entrance with original skylight and grand staircase provides a sense of arrival, while interiors have a hint of Scandi design, with wide oak plank flooring, Corian worktops and Philippe Starck-designed Duravit sanitaryware. Prices from £735,000. Call 020 7749 1380.

Clapton has a different feel to the gritty Hackney heartland. It was built on ground rising up from the Lea Valley and is one of the cheapest parts of the borough, despite lying alongside the impressive open spaces of Hackney Downs, Springfield Park and Millfields.

In the past, train links were poor. However, today it is connected by the tentacles of the Overground.

SMClaptonSquareB.jpg

Click for full article here


Fatal error: Uncaught Error: Call to undefined function post_pagination() in /home/nesteast/public_html/wp-content/themes/nesteast/archive.php:44 Stack trace: #0 /home/nesteast/public_html/wp-includes/template-loader.php(106): include() #1 /home/nesteast/public_html/wp-blog-header.php(19): require_once('/home/nesteast/...') #2 /home/nesteast/public_html/index.php(17): require('/home/nesteast/...') #3 {main} thrown in /home/nesteast/public_html/wp-content/themes/nesteast/archive.php on line 44