Brick to Brick has started working with SO Resi, the sales agent specialising in shared ownership, to market and sell our homes at Flora Court, Auckland Rise and Heathfield Gardens.
Diana Alam, Head of Sales at SO Resi Agency, commented: “We are excited to announce our first partnership through our new SO Resi Agency, and to work together with Brick By Brick to increase levels of affordable homeownership in Croydon. Partnerships such as these create a genuine opportunity to leverage expertise and work alongside equally ambitious partners to accelerate the delivery of much needed local, affordable housing.
“Croydon is a highly searched area on the SO Resi website, demonstrating that there is a clear demand from customers for shared ownership properties in this area as well as Greater London. We are pleased to be supporting Brick By Brick with the sale of these properties at three developments in the borough, which will allow aspirational first-time buyers get onto the property ladder and secure their own home.”
Colm Lacey, CEO at Brick By Brick, added: “Brick By Brick’s partnership with SO Resi Agency will help us to provide high-quality affordable housing to those who need it in Croydon and accelerate the returns we provide to our shareholder Croydon Council. These high-spec homes, which have been designed to our usual high environmental standards, offer a very appealing option for local people looking to take their first step onto the property ladder.”
27/01/2021 09:46 by Buildington
Shared Ownership homes at Flora Court are launching 29th January 2021.
1 and 2-bedroom apartments available from £75,000 (25% share; full price £300,000).
Register your interest with So Resi today.
26/01/2021 09:37 by Buildington
Brick to Brick has finalised an agreement with Residential Secure Income plc (“ReSI”) (LSE: RESI) on 85 of the homes, allowing them to offer the properties for sale to the people of Croydon as shared ownership properties.
ReSI invests in affordable housing, and contracts were exchanged for £29 million to acquire up to 85 of our newly completed homes, allowing Brick by Brick to offer them as shared ownership. The homes are within the schemes Flora Court in Thornton Heath, Auckland Rise in Upper Norwood and Heathfield Gardens in central Croydon.
The deal with ReSI is the first in Brick By Brick’s strategy to partner with registered providers to provide shared ownership housing, allowing them to increase the range of affordable funding options available to purchasers of the homes, and was approved by the refreshed Brick By Brick board at the end of 2020.
Brick By Brick will continue to market the homes, using SOResi as the sales agent, and all the homes for sale will be launched in the new year. The ReSI acquisitions will be completed in a staggered manner to align with when purchasers are ready to occupy the properties – expected to happen rapidly, as the homes have proved popular so far, and 90% of available homes for sale are already reserved.
The homes will be held by ReSI’s wholly-owned registered provider of social housing, ReSI Housing, and are part-financed by a government grant.
The portfolio consists of one, two and three-bedroom apartments across the Borough of Croydon. All homes offer our high internal specification, with timber parquet flooring, Silestone worktops, Bosch appliances and private balconies. The homes meet or exceed ReSI’s sustainability criteria and include secure cycle storage, solar energy, electric vehicle charging points, and have an energy efficiency Environmental Performance Certificate rating of B or higher.
04/01/2021 13:20 by Buildington