Finsbury Grange: parkside homes for first-time buyers
Accept the definition of a good first-time buy as somewhere central with great transport links, plenty of open spaces and things to do, and Finsbury Park, in travel Zone 2 in north London, fits the bill and has a wide choice of affordable homes.
Later this month a new development will launch opposite the 115-acre Finsbury Park. Prices at Finsbury Grange (finsburygrange.com) start at just £88,000, making it a highly attractive option for a new home.
Its transport links are excellent. Services from Finsbury Park Tube station take about 15 minutes to get to central London. And City workers can take the overground, around a 10-minute walk away, to King’s Cross (eight minutes) or Moorgate (13 minutes).
Yes, Finny P, as locals have nicknamed it, is an increasingly cool area to live. Sir Ian McKellen is backing the opening of a new local arts theatre next year, billed as Finsbury Park’s answer to Kilburn’s hugely successful Tricycle Theatre. And there are regular concerts and festivals held in the park itself. Arsenal’s Emirates Stadium is a mile away.
The area is not short of good pubs — The Faltering Fullback and The Old Dairy are local favourites — and there’s a burgeoning restaurant scene, with the likes of the critically acclaimed Season Kitchen.
As a downside, Finsbury Grange is right on the traffic-snarled Seven Sisters Road, so noise will be an issue when windows are open and driving at rush hour will be a pain.
The local shops are generally down at heel, though Stoke Newington’s boutiques are within walking distance — about a mile and a half away.
One-bedroom flats start at £88,000 for a 40 per cent share, and two bedrooms from £119,000.
In total there are 23 shared-ownership units on the site, as well as 63 for social rent and 44 which will be sold on the open market. It is being built by Paradigm Housing Group (paradigmliving.co.uk), and all the properties will be ready to move into early in the new year. In terms of specification, Finsbury Grange flats include fitted kitchens with walnut block work surfaces, and neutral white bathrooms. Carpeting is also provided, and some homes have private balconies or terraces. There is also a communal garden and a children’s play area on the site.
Mike Luthra, regional sales manager of Site Sales, the selling agent, says: “It is very keenly priced, and we are going to attract young professionals who work in the City because of the train links. “You have got plenty of funky cafés and shops on the doorstep and you can hop on the Tube and go fast to Oxford Circus.”
Canalside, Mile End
If living by one of London’s great public parks appeals then Canalside, in Mile End may be another option worth considering (onenewhome.co.uk). There are still a few properties in this development by the One Housing Group, built beside Regent’s Canal, for sale, with a 40 per cent share of a one-bedroom flat priced from £100,000. The development is a quick walk to Mile End Park.