Leading accessible homeownership provider SO Resi has recently announced the launch of its SO Resi Sutton development. The development is home to 22 Shared Ownership apartments in the heart of Sutton town centre – an attractive opportunity for prospective homeowners looking to put down roots in the London area.
The apartments available at SO Resi Sutton pair stylish living with ease and each apartment has been designed with modernity in mind. All homes include high-quality Bosch appliances including a washer and dryer, fridge-freezer and dishwasher. The development also offers on-site shops, restaurants and a health & fitness gym available via a paid membership, as well as underground allocated parking.
Having now launched with a fully furnished show home, prices for a two-bedroom apartment at SO Resi Sutton start from £105,000 for a 25% share (full market value £420,000).
SO Resi’s Shared Ownership model is designed to make homeownership more accessible. Buyers can purchase a share of the property, ranging from 10% to 75%, and pay a subsidized rent on the remaining share. Over time, owners have the option to increase their share, eventually owning their home outright. This model reduces the initial financial burden and provides a stepping-stone to full ownership, easing the burden on prospective buyers looking to settle in the London area.
Kevin Sims, Director of Sales and Marketing at SO Resi, commented: “Incoming residents looking to buy at SO Resi Sutton will be joining a proud and well-established community of homeowners, however this is at a high price point with the average house price fetching £524,7131, according to property portal Rightmove which of course is far out of reach for first-time buyers. With deposits starting at just £5,250 at SO Resi Sutton, this provides a more accessible price point for those wanting to reap the benefits of living in London and will suit both young professionals and small families. We expect strong demand at this development as prospective buyers look to take advantage of accessible housing in the capital.”
Sutton is an Outer London borough and has excellent transport links into central London. Sutton railway station is served by both Thameslink and Southern trains, and travel to London Victoria takes just over 25 minutes. Sutton is also notable as ‘a good place to raise a family’2, with a large percentage of the population being made up of school aged children and likely parents of school aged children.
