Press Release
– 11 May 2007
FIRST
KEY WORKER HOMES AVAILABLE UNDER THE
LONDON-WIDE
INITIATIVE
Affordable
Key Worker development created by English Partnerships and First Base in
Shoreditch
The first Key
Worker homes for sale under English Partnerships' London-Wide Initiative are now
available at Adelaide Wharf, a cutting edge scheme by urban regeneration
developer, First Base.
Located in the up
and coming area of Shoreditch in London, Adelaide Wharf offers a range of 1,2 and 3 bed
apartments for Key Workers starting at £112,000. Designed by award
winning architects, Allford Hall Monaghan Morris, there is no difference in design or
specification between tenures within the development, making buying a high-quality, new home a reality
for many more teachers and nurses across the capital.
The homes are
available to Key Workers at a significantly discounted rate as a result of
English Partnerships, the national regeneration agency, making land available
for delivering new homes. First Base will be responsible for the long term
management of Adelaide Wharf, ensuring properties remain affordable each time
they are sold on.
Unlike
traditional shared ownership schemes, Key Workers buying at Adelaide Wharf own
100% of the home so there is no
additional rent to pay. When the property is sold-on they share a proportion of any uplift in
value with the landowner.
Elliot Lipton,
Managing Director at First Base, said, "The shortage of truly affordable and
quality homes for Key Workers, especially in London, is a major issue we all
face. With rising
house prices, many Key Workers are struggling to get a foot onto the property ladder.
"The
Key Worker homes available at Adelaide Wharf mean that buying a high quality, sustainable home is
now a reality."
First Base and English
Partnerships are delivering a significant number of affordable Key Worker homes
across seven other developments in London.
Out of the 147 homes at Adelaide Wharf 41 are for Key Workers with an additional 33 social for
rent. The
social for rent homes are partly funded by the Housing Corporation, who are
also partners on the London-Wide Initiative with English Partnerships.
Stephen Oakes Area Director for English Partnerships
added: "Adelaide Wharf is the first release of homes to come to market under
the LWI. In total, the Initiative
will deliver more than 4,500 homes across London, with around 1,500 for key
workers. From the outset we - along with our development partners -
have sought to invest in creating quality affordable homes and Adelaide Wharf
is a tremendous example of this aspiration coming to fruition."
First Base is
launching its Key Worker homes this weekend at Adelaide Wharf 118-120
Queensbridge Road, Shoreditch, London E2 8PD. Key Workers interested in buying
an apartment can visit the marketing suite and show flat between 10am - 5pm
Saturday and Sunday 12/13 May 2007.
For viewings, sales consultations and further information please visit www.adelaidewharf.com or make an
appointment through Savills on 0207 613 1888.
- ENDS -
For media
enquiries, images or if you would
like to interview a Key Worker who has already bought a home with First Base
please contact:
Jessica Gooch,
Lexis PR
020 7098 6447
David Lucas, Lexis
PR
020 7908 6422
Notes to
Editors:
Key Worker
Criteria
To be eligible for
a Key Worker home at Adelaide Wharf, one member of the household must be a Key
Worker earning between £28,000 - £60,000. The sales process is designed to be
simple. First Base is working with leading independent financial advisors, SPF
Sherwins (part of the Savills group), to provide a package which will wrap
legal advice, easy access to finance, valuations and pre-arranged mortgages for
all buyers.
First Base
Transforming
Urban Spaces and Building Communities
First Base is the residential-led urban regeneration developer that
creates stylish homes in great urban spaces.
-
It transforms the way that properties are built - using best practice
modern construction methods that keep costs low yet quality high, embrace
sustainability and ensures value for money.
-
It transforms the way that communities are formed - with a mix of
tenures, a range of homes, a commitment to high quality management and services
that make friends of neighbours.
-
And it transforms the way that style meets function - with attractive
designs, inside and out, that do more than simply look good.
Designed by
renowned architects, built by skilled craftspeople, managed by experts, First
Base homes are quality, sustainable and affordable properties for purchase or
rental.
The company was
included in the 2006 RIBA 'Top 50 Clients' survey for its innovative approach
to quality design, using renowned architects including, Rogers Stirk Harbour
and Partners, AHMM and Fletcher Priest for a range of projects across the
capital.
First Base is also
a founding member of the UK Green Building Council which launched in spring
2007. The UK Green Building Council is a non-for-profit organisation which aims to reduce the environmental impact
of buildings by improving the way they are designed, built and maintained.
For further
information please visit www.firstbase.com
English
Partnerships
English
Partnerships is the government's
national regeneration
agency delivering high quality, sustainable
growth in England. It does this by developing its
portfolio of strategic
projects and acting as the
government's advisor on brownfield land. It also ensures that surplus public
sector assets are used to support
wider government objectives, especially those contained in
the Sustainable Communities Plan. English
Partnerships helps create
communities where people can afford to live and want to live. Information on projects and programmes can be found at www.englishpartnerships.co.uk
English Partnerships and the Housing Corporation are working
with the Department for Communities and Local Government to
establish the proposed new national housing and regeneration agency,
Communities England.
The London-Wide
Initiative pilot scheme was launched to fast-track more affordable homes in
Greater London. The scheme will focus on a portfolio of sites, selected as a
test-bed for introducing a range of new ideas for the delivery of homes. The
pilot scheme will deliver up to 4,500 homes over the next five years of which
around 1,500 will be affordable homes for key workers. Three development
partners have been selected to work in partnership with English Partnerships to
deliver homes through the London-Wide Initiative; First Base, Key London
Alliance and a consortium led by Countryside Properties plc.