From £97,500: shared-ownership flats in Zone 2

Shared-ownership flats in transformed Wandsworth Town are a great buy for first-timers who relish café culture. Image: Rex.
Cinderella status was once well-earned by Wandsworth Town, with its moribund industrial sites along the Thames, crawling 24/7 traffic on the gyratory system, and little in the way of entertainment.

But a wave of investment by developers and a ripple of buyers from more expensive parts of south-west London have wrought a transformation in recent years.

Top-end developments are revitalising the waterside, the defunct Ram Brewery marooned at the apex of the one-way system is being turned into glamorous flats, and Transport for London is consulting on long-awaited plans to redesign the local road system. A decision is expected next year, and that will be a real game changer. 

Importantly, Old York Road, Wandsworth Town’s high street, has been quietly acquiring a great range of cafés and independent shops, while trains from Wandsworth Town station to Waterloo take about 15 minutes.

High-spec apartments in a great location
 
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From £97,500: for 25 per cent of a one-bedroom flat at The Schoolyard. Two-bedroom homes are also available as a shared-ownership option at the lowrise development.

First-time buyers who like the sound of the above should consider buying into The Schoolyard in Eltringham Street, with 119 new homes, including 20 for shared ownership, in series of low-rise buildings. The development is within easy reach of local attractions, from the open spaces of Wandsworth Common to the stalls and stores of Northcote Road.

Prices for the shared-ownership homes start at £97,500 for 25 per cent of a one-bedroom flat with a full market value of £390,000. 

Monthly outgoings — which include rent, service charge, and mortgage based on a notional interest rate of five per cent — are estimated at £1,129. 

A 25 per cent share of a two-bedroom  flat will cost £122,500, with monthly costs estimated at £1,168. All homes have some form of outside space, either a balcony, a terrace or a patio. There are also communal gardens on the site, which earns its name as the former location of the now-defunct Eltringham School.

The Schoolyard is being sold by housing association L&Q. Olivia Scrimshaw, deputy director of marketing, says standout features include a particularly high spec, with built-in wardrobes, underfloor heating and video entry systems.

Stroll to Northcote Road 
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“Fantastic café culture”: the vibrancy feeds through from Old York Road’s wealth of informal take-a-break venues. Image: Graham Hussey.

 “Old York Road has fantastic café culture and Northcote Road is within walking distance,” says Scrimshaw. “From Wandsworth you really have got all Fulham, Clapham and Battersea on your doorstep and our research tells us that these really are the areas young people want to live in.”

The downside is that The Schoolyard is adjacent to that troublesome one-way system, but Scrimshaw believes the development’s acoustic glazing will minimise the impact of traffic noise.

Visit: www.lqgroup.org.uk/theschoolyard

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