Product category:
Housing, Regeneration and Developments
News Release from: LHA-ASRA Group
Edited by the Buildingtalk Editorial
Team on 14 February 2008
Help for first time buyers from Quantum
First time buyers who want affordable apartment-style living in a landmark historic building are being given a helping hand onto the property ladder in Leicestershire.
Housing development consortium Quantum has carried out a GBP5million scheme to convert a former Victorian factory on Station Street, South Wigston into 36 apartments The factory played a part in Leicestershire's renowned textile industry
This article was originally published on Buildingtalk on 2 Aug 2006 at 8.00am (UK)
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The homes, which consist of one and two bedroom apartments, are available to reserve now.
Twenty-one of the homes will be for sale through the Housing Corporation's New Build HomeBuy shared ownership scheme.
Shared ownership means that purchasers buy a percentage of the property and pay rent, at less than market levels, on the remaining share.
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ASRA Greater London Housing Association, part of the LHA-ASRA group, is developing new homes at Grand Union Village in Ealing, the former headquarters site of Taylor Woodrow plc.
Prices for these apartments start at GBP47,475 for a 50% share.
First time buyers, and anybody else interested in buying one of the apartments, will be able to view a show home from February.
The apartments have been converted from the original factory, retaining many of the original external features.
Five two-bedroom houses will also be constructed on the site.
South Wigston is known for its rows of Victorian terraced houses and independent shops.
There is also a train station with links to Nottingham, Birmingham and Leicester.
Housing and regeneration group LHA-ASRA, which is a member of the Quantum consortium, will be selling the homes.
Sales and Marketing Manager at LHA-ASRA Amy Mackay said: "These unique homes offer loft style living, many off them with a mezzanine floor, in a historic setting and represent a link of Leicestershire's industrial past.
"South Wigston has so much going for it, especially now the new 24-hour Tesco and Wigston college have chosen to locate there.
These homes represent a good buy for people looking for affordable housing and with shared ownership that is made even easier." Anyone who wants to find out more or reserve the homes can call Amy Mackay, Sales and Marketing Manager at LHA-ASRA, now on 0116 2576709 or 07808 060686.
The development is being funded by several sources.
Oadby and Wigston Borough Council has granted GBP250,000 to support the regeneration of the area and the affordable housing.
The Housing Corporation has provided GBP757,000 of Social Housing Grant to support the affordable housing at the scheme.
LHA-ASRA funded the balance of the cost.
Quantum is made up of four developing members - LHA-ASRA, Amber Valley Housing, Derwent Living and East Midlands Housing - together with three partner members - Advance Housing Association, Foundation HA and Rockingham Forest HA.
Collectively managing more than 30,000 homes across the Midlands and beyond, the consortium was launched to deliver affordable housing schemes, ensure investment priorities meet the requirements of the Regional Housing Strategy, follow the principles of good development and share skills, knowledge and best practice.
A total allocation for 2006/2008 of almost GBP34m of government money, drawn down through the Housing Corporation, mean that the Quantum Consortium has developed more than 1,000 affordable homes at sites in Leicestershire, Derbyshire, Northamptonshire, Nottinghamshire, Buckinghamshire, and Staffordshire.
The consortium is one of just 108 organisations across the country, which has been selected to deliver the Housing Corporation's affordable housing programme.
The Housing Corporation delivers Government cash to partner organisations to help build affordable homes.
Preferred partnership status means Quantum can enter into a bidding round for grant funding for homes to be built between 2008 and 2011.
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