Product category:
Housing, Regeneration and Developments
News Release from: LHA-ASRA Group
Edited by the Buildingtalk Editorial
Team on 14 January 2008
Regenerated village is booming
Housing association LHA has developed affordable homes, which are being sold for shared ownership in the former mining village of Warsop Vale.
Shared ownership means that homebuyers purchase part of the home with a mortgage and pay affordable rent on the remaining share It offers a first step on the property ladder to those who otherwise could not afford to own their own home
This article was originally published on Buildingtalk on 2 Aug 2006 at 8.00am (UK)
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From showroom to show home
Disused car showroom in Leyton, east London, acquired by ASRA Greater London Housing Association in May last year, has made way for a development of new affordable homes for local people.
The ten new homes form part of the massive regeneration of Warsop Vale, spearheaded by not-for-profit company Meden Valley Making Places.
And homebuyers have been snapping up the three-bedroom homes on Carter Lane and North Street in the village.
The new residents include people who had left Warsop Vale and are returning after 30 years.
The last three of the ten homes are just about to come onto the market and anyone who is interested in viewing them is urged to act swiftly.
For more information call LHA Sales and Marketing Manager, Amy Mackay on 07808 060686.
The design of the new properties is in keeping with the architectural elements of Victorian terraces in the area.
The homes have been refurbished to a very high standard, with modern fitted kitchens with integrated appliances, a spacious open plan living area and a family bathroom.
All of the homes have picturesque outlooks, either over open fields or allotments.
They are being offered on 50% shared ownership with prices starting at GBP42,500.
Alongside the construction and refurbishment work, substantial local employment and training initiatives are being given by social enterprise Newlife Regeneration Construction to 20 people from the area, three of whom were taken on as apprentices in bricklaying and joining.
Of those 20 people around six were unemployed before they were taken on.
Robert Nettleton, Group Regeneration Director, LHA-ASRA, said: "It's great news that these homes have sold so quickly and it shows that people have confidence that the village is one that people want to live in".
Charles Amies, Head of Investment for the East Midlands Region at the Housing Corporation, said: "The Housing Corporation is pleased to have been able to help contribute to the turn around in the fortunes of the village".
"Success stories like this are a real tribute to all the parties involved and of course, in particular, to the contribution made by the existing residents." Warsop Vale is situated between Church Warsop and Shirebrook.
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