Customers share joy of home ownership

November 21st, 2018 in Home Group News

South Oxhey street scene with people walking

The first group of shared ownership customers have moved into their homes at the £150m South Oxhey Central redevelopment, near Watford, Hertfordshire.

Home Group, one of the UK’s largest providers of high-quality housing health and social care, is working with Countryside Properties and Three Rivers District Council as part of the ongoing redevelopment.

The first phase of development included 21 shared ownership properties, of which two thirds of the customers are from the Watford area, while others have moved from outside the area to be close to family or work. All new home moves will be completed by the end of November.

Brian Ham, Executive Director of Development at Home Group, said: “We have worked hard with our partners Countryside and Three Rivers District Council to complete the first phase of this project, and we are delighted to welcome the first wave of customers into their new homes.

“It’s fantastic to see our shared ownership customers moving into their new homes. Home Group gets a real sense of satisfaction from seeing how much it means to people being able to get on the property ladder in their own area.”

Shared Ownership gives first time buyers, and those that do not currently own a home, the opportunity to purchase a share in a new build or a resale property.

Customers buy a percentage of a property and pay rent on the remainder. That means a smaller deposit and mortgage, and helps people get on the property ladder.

Sara Bedford, Leader of the Council said: “It’s great to celebrate this achievement with key senior members from Countryside, Home Group, Councillors and Community Board members. This is an exciting affordable housing development project to be involved in. My thanks to all involved in the project, and I wish the team continued success as the development continues through to completion.”

Mike Woolliscroft, Managing Director for Partnerships South (West), Countryside, said: “Following the recent milestone of the Phase 2 groundbreaking ceremony, we are delighted to see more residents moving into their new homes at Phase 1 of the development.

“We’re committed to meeting the housing needs of local residents, who are pivotal in creating a thriving, sustainable community here at South Oxhey Central. The overwhelmingly positive reaction we’ve already received from the new residents is testament to the quality of the modern, cleverly-designed affordable homes that we are providing.”

Ground was broken in October to signal development of Phase Two of the project, which will deliver 8,500 sq. ft. of retail space, a new and improved marketplace that will also serve as a hub for community events, and 174 new homes, of which 48 will be affordable.

The regeneration of South Oxhey Central is split into three phases, with all work expected to be completed by 2022. The ambitious scheme will transform the existing town centre and three formerly unused sites into a modern and vibrant hub for local residents and businesses. 

Set amongst two acres of landscaped parks and public spaces will be 55,000 sq. ft. of retail and commercial space, including an 18,880 sq. ft. Lidl food store, a revamped retail experience at Carpenders Park railway station and 514 new homes.

The new homes will provide a mix of private sale and affordable rent housing, ranging from one-bedroom apartments to four-bedroom family houses. This includes 117 high quality affordable homes, 96 to be let at social rent and 21 available for shared ownership.