Shared ownership flats for first-time buyers in Greenwich

First-timers can enjoy a gym and sky gardens in this smart new scheme on the Greenwich Peninsula.
The new, shiny towers alongside the River Thames might seem more like the preserve of wealthy overseas investors than first-time buyers, but one scheme is offering young Londoners the chance to get on the property ladder.
 
When apartments at Platinum Riverside, on the Greenwich Peninsula, first went on sale off-plan a few years ago, they were marketed to investors in Hong Kong and Singapore, but now housing association L&Q is offering those earning no more than £50,000 — on their own or as a couple — the opportunity to buy into the project via shared ownership.
 
The group has 14 one-bedroom flats with a full market price of £335,000, starting from £83,750 for a 25 per cent share. Two-bedroom flats, with a market value of £460,000, start at £115,000 for a quarter-share.
 
They will go on sale in August, with more flats available in later phases of the 198-home project.

READ MORE: THE FIRST-TME BUYERS GUIDE TO LONDON


The development, by Bellway Homes, will be completed by the start of next year, which means residents won’t be subjected to endless building works.
 
The flats are kitted out with integrated appliances, wood flooring, and each has either a balcony or a terrace, though the prime river views have been reserved for private buyers.
 
All residents will have the use of a gym and a communal sky garden. There is also a concierge service. Priority will be given to people who currently live or work in Greenwich.
 
Platinum Riverside is between old and new Greenwich — it is about 15 minutes’ walk from the restaurants and bars at the 02 Arena and half an hour from the centre of Greenwich and Greenwich Market.
 
For walks, the Thames Path can be reached in seconds, the Greenwich Peninsula Ecology Park is just a  couple of streets away, and — if it’s all you can manage — The Pilot, a gastropub with a great garden, is on the doorstep.

The nearest Tube station to the development is North Greenwich (Zone 2, Jubilee line), a 10-minute walk. From there, commuters can reach London Bridge in about nine minutes, Waterloo in 10, or Bond Street in about 16 minutes.
 
“Greenwich is steeped in history, but you have got a lot of new and modern attractions in the area, such as the O2,” says Andrea Palmer, field sales manager at L&Q.

 
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Platinum Riverside will be about 15 minutes' walk from the restaurants and bars of the O2 Arena

Greenwich Peninsula in numbers:
1997:
the date English Partnerships (now the Homes and Communities Agency) purchased a swathe of the brownfield site on the peninsula, with a view to providing extra homes for London.
 
190: the total acreage of the Greenwich Peninsula (making it slightly larger than 180-acre Greenwich Park).
 
£581,727: average property price in SE10 according to Zoopla, up just over half a per cent in the past year.
 
5,978: miles between London and Hong Kong, where the first private home sales at Platinum Riverside were launched off-plan in 2013.
 
£5 billion: estimated sum Hong Kong-based developer Knight Dragon is spending on developing the plot on the Greenwich Peninsula, which it bought in 2014.
 
198: number of homes at Platinum Riverside.
 
41: maximum number of floors allowed in tower blocks at Greenwich Peninsula — any higher could compromise the safety of planes from nearby London City Airport.
 
£10: price of a SE10 cocktail (gin, prosecco, strawberry liquor) at Craft London, chef Stevie Parle’s newly opened bar/restaurant at Peninsula Square.

 
 

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