First-time buyers snapping up first flats at Beckton housing development
PUBLISHED: 17:00 23 September 2020
The first homes at a new development in Beckton have almost sold out after a post-lockdown surge in demand, the developer says.
All but one of the 58 homes in Central Square, the first block of apartments being built at Beckton Parkside, have now been purchased off-plan.
The development, which is located off Viking Gardens and next to Beckton District Park, will have a total 391 apartments, including 281 for private sale and 110 affordable homes for rent or shared ownership.
Construction work on Central Square is progressing well, and the first apartments are due to completed by the end of this year.
As part of the project, developer Bellway London is providing £65,000 towards improvements at Beckton District Park.
Bellway London sales director Emma Hamlett said: “Last year, a report by the lender Proportunity identified Newham as having one of the most resilient housing markets in the capital, and that has certainly been borne out by the sustained level of demand we have seen at this development.
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“With an average of seven sales taking place per month, despite the lockdown, and several enquiries already being made about future phases of the development, it’s clear that Beckton Parkside is ticking a lot of boxes for housebuyers.”
Each of the apartments at Beckton Parkside will have a balcony or terrace space.
Residents will have access to central courtyards, landscaped gardens and play areas within the site and there will be 741 secure cycle spaces.
Ms Hamlett said with apartments priced below £300,000, the majority of purchases at the development have been by first-time buyers using the London Help to Buy scheme.
The recently announced government stamp duty holiday on homes under £500,000 also means nobody who buys an apartment – as long as it is their main residence – will pay any stamp duty if the purchase is completed by the end of March next year.
The remaining home yet to be sold in the first phase at Beckton Parkside is a third floor, one-bedroom apartment with a balcony.
Homes in future phases of the development, which include Grove Court, Parkside Court and Redwood Court, are expected to go on sale this winter.
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