First-time buyers will get the chance to live in Britain’s most glamorous residential tower when 89 low-cost homes go on sale at 42-storey Strata next month. Eight floors of the Elephant and Castle tower will contain shared-ownership apartments with prices from just £60,000.
The landmark tower - topped with huge wind turbines - will include the highest penthouses in Europe. Lower down, from floors two to 10, and in a neighbouring annexe, smart Esprit apartments, due for completion by early summer, will be aimed at first-time buyers and will be sold by Family Mosaic, a housing association.
A quarter share of an Esprit apartment costs £60,000, with new owners renting the remainder. First-time buyers living or working in Southwark borough, with incomes under £60,000 a year, will get priority.
Buyers will be rubbing shoulders with owners of more expensive apartments on the upper floors but internal specifications will be similar. Most of the full-priced flats, selling at up to £2 million, were snapped up off-plan nearly two years ago.
With its turbines and chequer-board façade, Strata has become one of the capital’s most conspicuous buildings. All flat owners enter through an imposing double-height, hotel-style entrance lobby. There is a 24-hour concierge service and underground parking.
The Esprit flats have smart, contemporary design and are space-efficient. To register interest, visit www.espritapartments.com or call 020 7089 1315.
Strata is the most dashing new development to date in the 170-acre Elephant and Castle regeneration zone which will see the demolition of the garish pink shopping centre.