Shared-ownership options bring hipster Hoxton within reach of first-time buyers

While Hoxton's fancy factory lofts cost more than £1 million, more modest homes start at about £141,250 for a 25 per cent shared-ownership stake.
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Neighbourhood’s heart: you pay a premium to live in gentrified Hoxton Square. Image: Graham Hussey

Hoxton is super-hip these days but still takes a pride in its raw, unpretentious history. Not much more than a decade ago it was still a gritty, grey, working-class district — a place for have-nots rather than haves. Today its further ascendancy seems assured, yet there are still homes available for first-time buyers eager to join the area’s mix of old and new cultures.
 
While fancy factory lofts cost more than £1 million, more modest homes, including ex-local authority flats, start at about £350,000. What’s more, the East End’s charitable housing roots run deep, meaning there are shared-ownership and rental deals for lower-income Londoners committed to the area.

 
Mondrian is a new development on the site of former Mildmay Mission Hospital, close to Columbia Road Flower Market in the Hoxton heartland. Genesis housing association is offering a choice of tenures to suit different lifestyles and budgets.
 
One-bedroom flats cost £1,725 a month to rent, or £141,250 for a 25 per cent shared-ownership stake. To buy the same flat outright would cost £565,000. Green design — triple glazing and solar heating — keeps running costs low. Call 0800 542 7236.
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£141,250: for a 25 per cent shared-ownership stake in a flat at Genesis’s new Mondrian scheme, near Columbia Road. Call 0800 542 7236
 
Former Queen Elizabeth Children’s Hospital in Hackney Road has been rescued as part of Mayor Boris Johnson’s affordable homes initiative. Behind the listed Victorian façade are 186 flats, many with views across Haggerston Park. Due for completion in 2016, prices start at £365,000, with shared-ownership options available through Family Mosaic housing association. Call 020 3376 7775.
 
Hoxton Square, the area’s beating heart, is an attractive urban space, shielded from council estates and the busy traffic swirl that surrounds it. Most of the square has been gentrified and you pay a premium to live there.
 
A two-bedroom flat in a portered, purpose-built block is on the market for £625,000, through Foxtons on 020 7033 1414, while estate agent Green & Co seeks offers in the region of £800,000 for an 820sq ft loft space in an authentic warehouse with big windows and high ceilings. Call 020 7251 8877.
 
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£425,000: for a two-bedroom flat in Bevenden Street in the heart of Hoxton, in a sold former local authority block
 
RUBBING ALONG
Hoxton is one of the few places in London where the business world and an artistic community happily co-exist. City bankers and lawyers reside in apartment buildings where less-prosperous live-workers have design studios, and they hang out in the same bars and restaurants. Yet the price differences between addresses within a short distance of each other can be yawning.
 
A two-bedroom ex-council flat in Bevenden Street (pictured above) is £425,000. 
 
Developer Crest Nicholson has arrived on this patch and will soon be launching The Bevenden — 42 apartments, priced from £475,000. Call 020 3764 0693.
 
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£157,500: for a 30 per cent share at Shoreditch Heights, with priority for locals. Call 020 7089 1315

People living or working in Hackney borough have priority to buy shared-ownership flats at Shoreditch Heights, part of a swish new private development in Britannia Walk, a fashionable pocket that includes Jamie Oliver’s Fifteen restaurant. Two-bedroom flats cost from £157,500 for a 30 per cent share — full price, £525,000. Call 020 7089 1315.

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