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7 May 2006

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Shared ownership flats now on sale

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People looking to get their hands on brand new £54,000 Peterborough city centre flats are being urged to make a viewing appointment before they are all snapped up.

Axiom Housing Association's prestigious shared ownership flats are being billed as a great opportunity for first-time buyers who may be priced out of the soaring housing market.

Axiom Housing Association

Viewing appointments are now being arranged for the development at Rędwald Court, off St Mark's Street, Peterborough - but many days are already booked up and people are being asked to act quickly or miss out.

The brand new scheme comprises 15 high quality two-bedroomed flats which are only a short walk from Peterborough city centre. The properties will be available from Spring 2006.

To arrange a viewing appointment or request an information pack, interested people can call Axiom's customer services on 01733 347135. All viewings will be by appointment only.

Richard Hall, Axiom's chief executive, said: "Over recent years soaring house prices have made it very difficult for a significant number of people to be able to afford their own home.

"We are anticipating an extremely high demand for these properties and it is looking as though these flats will sell like hot cakes. There is a significant demand for low-cost housing in Peterborough and I am delighted we can ensure more people in the city have a place of their own.

"This scheme is a low cost home purchase option specifically designed to help people who cannot afford to buy their own home outright, enabling them to get on the property ladder on a part own/part rent basis. We anticipate a high demand for these attractive flats."

A rental element is payable on the part of the property that is not purchased, together with a service charge. Initially the flats will be sold at 50 per cent of their market value - meaning they can be purchased for under £54,000.

Two members of Axiom staff, Helen Shevlane and Olivia Underhill, have been busy creating a show flat for prospective buyers.

Olivia said: "This type of scheme gives young people and first time buyers an opportunity to buy their own home. Property prices have spiralled in recent years and we receive telephone calls every day from people who want to buy but simply can't afford it.

"Rędwald Court offers a 'way-in' for people by giving them the opportunity to buy a share of the property in the first instance. We have had plenty of interest already and we are anticipating high demand."

The development is named after Rędwald, who was King of East Anglia in the seventh century. During his reign East Anglia reached the height of its power and his empire stretched across the whole region.

He is thought to be the most likely candidate to be the principal of the Sutton Hoo ship burial in Suffolk, although no bodily remains were ever retrieved from this site.

February 2006




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Richard Hall
Axiom Housing Association
Tel: 01733 347135


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