Well-connected Greenwich: shared-ownership flats with a ready-made community

New shared-ownership homes priced from £73,750 near Greenwich will be set within a ready-made community, with shops, cafés, a leisure centre and crèche.
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The trouble with many mega-size housing developments is that residents can feel marooned, isolated in a new district with no community. L&Q @ Greenwich Square is one new scheme that hopes to solve the problem.
The development of 645 flats and houses, designed by leading British architects Make, will include a range of shops and cafés, a leisure centre with swimming pools and a gym, along with  a crèche and a medical centre.
There will be 144 shared-ownership properties at the development, which means there is plenty of opportunity for first-time buyers in Greenwich. Prices for the 88 first-phase homes start from £73,750 for a 25 per cent share of a one-bedroom flat with a full market value of £295,000.
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The flats are due to go on the market at the end of this month, with prices for two- and three-bedroom properties set to be announced closer to the launch day.
The first shared-ownership homes will be move-in ready in July, although the whole scheme will take five years to complete. Visit lqgroup.org.uk/greenwichsquare for more information.


L&Q @ Greenwich Square: the development is designed by leading British architects Make
The development is in East Greenwich, halfway between the Greenwich Peninsula and Greenwich village. Residents will be just over a mile from the O2 centre and all its shops and restaurants.
L&Q @ Greenwich Square is also a mere 15 minutes’ walk from the more traditional charms of Greenwich with its market, independent shops and cafés, not to mention the vast, verdant expanses of Greenwich Park, scene  of the nail-biting equestrian events during the 2012 Olympics.

The nearest train station is Maze Hill, half a mile away. Services to London Bridge take just 11 minutes, and those to Cannon Street take from 15 minutes, which means this is a great option for City workers. An annual season ticket costs £976.
Alternatively, Cutty Sark station on the Docklands Light Railway is a mile’s walk from the site and has services to Canary Wharf in 11 minutes and Bond Street in 28 minutes. From 2018 it will be possible to pick up fast Crossrail services from Canary Wharf to both the West End and Heathrow.


Top-notch facilities: residents at Greenwich Square can make use of the gym, crèche, pools, cafés and medical centre
Olivia Scrimshaw, assistant director of marketing at L&Q, said almost 3,000 people have already registered their interest in the new homes — a stark illustration of the shocking imbalance between demand for affordable homes in London and their supply.
Preference will be given to those who live or work within Greenwich, and there will be minimum household earning restrictions imposed at around £45,000, to make sure buyers can afford their new homes.
For those buyers who get into L&Q @ Greenwich Square, Ms Scrimshaw says that the development’s location, along with the “incredible” transport links and on-site facilities, are its key selling points. She also feels that the whole area is on the up. “East Greenwich has always had a reputation of not having an awful lot to offer, but there is such a lot going on now. You can feel the spread of excitement about the area.”
Major new schemes coming to East Greenwich include Enderby Wharf, a development of some 770 riverside homes with views towards Canary Wharf by Barratt London, which will launch this summer.
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