Shared Ownership
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2 Bedroom Flat

Flat 142, 30 Addiscombe Grove, Croydon, CR0

£ 115,750

Call the Shared Ownership branch on 02380 820 121

Features:

  • Brand new Shared Ownership home
  • Three stunning communal rooftop terraces
  • Short walk from East Croydon train station
  • Available immediately
  • Private balcony
  • Open plan living

 

Property Description:

Shared Ownership

This brand new home is available to buy from as little as £115,750 with a 25% share!

***INCENTIVES - Take advantage of two great incentives, designed to help your first step onto the housing ladder.

1. Free rent until 2023! Complete the purchase of your new home at The Grove by 1st October 2022 and pay no rent until 1st January 2023*

2. £1,000 Cash back! Reserve your home at The Grove by 13th August 2022 and receive £1,000 cash back**

The Grove is a stunning collection of two and three-bedroom apartments available through Shared Ownership. Only moments away from East Croydon station with three rooftop terraces offering stunning views across South London, contemporary specification, and light, spacious living space.

Designed with contemporary living in mind, residents can make use of any of the three landscaped gardens, each designed in a distinctive style to suit any mood or occasion.

Croydon is now home to a burgeoning tech and creativity hub. The borough is in the midst of a multi-billion pound investment programme that is set to transform the area, placing Croydon at the forefront of innovation yet again. Croydon is now home to over 2,000 digital, data and tech companies, employing around 8,000 staff. Subsequently, this has created a real buzz in the borough with independent cafés and workspaces opening, a bustling restaurant quarter to enjoy, two music festivals and a weekly comedy club ' plenty to keep you busy.

Croydon is a major transport hub, and living at the The Grove puts you at the heart of it, with just a two minute walk to East Croydon Station. The site benefits from excellent train links to London Victoria and London Bridge, as well as south to Gatwick Airport and Brighton. Tramlink services go west to Wimbledon and east to Beckenham and Addington. Cycling around Croydon is one of the most enjoyable ways to explore your new area. There are routes for people of all abilities and with the council investing over £300,000 in the streetscape, it is only set to get better.

This brand new apartment features an open plan lounge/kitchen/diner, two double bedrooms, bathroom and a private balcony.

PRICING & AFFORDABILITY

Approximate Size 66 sq m

Full Market Value: £463,000

25% Share Price: £115,750 (rent £795.78pcm)

Minimum 5% Mortgage Deposit (25% share): £5,788

Approximate Service Charges: £210.03 pcm*

Length of Lease: 125 years

ELIGIBILITY

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you'd expect to pay if you bought a similar property outright.

At The Grove you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you're ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for this shared ownership scheme you would need to meet the following criteria:

' Your annual household income does not exceed £90,000

' You have a deposit of at least 5% of the share value

' You do not own another property or have your name on the deeds or a mortgage for a property worldwide.

' This will be your only residence.

' You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Incentives available for a limited time. Optivo reserves the right to withdraw these offers at any time, without prior notice.

*Legal completion must take place by midnight on 1st October 2022 to qualify. Leaseholder accounts will be credited on completion to cover rental costs from date of completion up to 31st December 2022 inclusive.

**£1,000 cash back will be deducted from the final balance due to Optivo upon completion. Must complete by 30th September 2022 to qualify

 

Call the Shared Ownership branch on 02380 820 121