According to a recent report, budding first time buyers looking to purchase their first home could face over 11 years of saving for a deposit . Aspiring purchasers keen to step onto the property ladder sooner rather than later in Chelmsford, Essex, can purchase a new home at City Park West, with the help of the Shared Ownership scheme. Leading developer Notting Hill Genesis, have recently launched the highly anticipated final phase of homes at City Park West, providing a selection of stylish apartments a stone’s throw away from everything this sought-after Essex town has to offer, and still only half an hour from London.
Exciting new community
Forming part of an exciting new community served by a network of new walkways and cycle paths, this phase of homes at City Park West will deliver over 300 new properties comprising a contemporary collection of one and two bedroom apartments in a mixture of layouts and sizes to suit a variety of lifestyles. Ideally located in the heart of Chelmsford town centre, the homes at City Park West fit seamlessly into this trendy and cosmopolitan area, while still remaining sensitive to the historic charm that is echoed throughout Chelmsford City. Offering a dynamic architectural design, City Park West also includes a compilation of new commercial and retail premises alongside a number of open communal spaces, perfect for residents to enjoy some quality time with friends and family or take in the views of Central Park and River Chelmer, only a few minutes from the development.
Ideal for first timers
With prices starting from £94,000 for a 40% share, and provided they can afford to, purchasers can increase their share at any time, all the way up to 100% and outright ownership. Even better, the minimum 10% mortgage deposit is based on the value of the share purchased and not the full market value, providing an ideal solution for first time buyers to purchase a home.
Sarah Butler, Commercial Director of Notting Hill Genesis, comments: “With average property prices in Chelmsford now over £375,000 according to Zoopla, and house deposits fast becoming an unreachable target for many first time buyers, this highlights the importance of having options like the Shared Ownership scheme available.”
Location Location Location
Commuters are well placed for use of Chelmsford station, located adjacent to the development, offering services running into Liverpool Street in around 30 minutes. 10 minutes away at Shenfield station, residents will have access to the new Crossrail route, due to open later this year. There is a number of bus routes located within walking distance of City Park West, with regular services travelling in and around Chelmsford. Access to road links couldn’t be easier; the M25 is less than a 20-minute drive away via the A12. Both Stanstead and Southend airports are approximately 30 minutes away by car.