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A disused car showroom in Leyton has made way for a development of new affordable homes for local people.

The former Ford forecourt and showroom in Leabridge Road had stood empty for several months but were acquired by ASRA Greater London Housing Association in May last year.

Now the first phase of the £3.5 million development of 55 apartments is complete, and a show home is open.

The majority of the new homes are available for shared ownership, allowing people the opportunity to gain a foothold on the property ladder by buying a minimum 40% share in their home, and renting the remainder.

Prices start from £69,300 for a 40% share of a one-bedroom apartment.

The scheme was funded by ASRA, the Housing Corporation and private finance, and supported by the London Borough of Waltham Forest.

ASRA project officer, Iffat Iqbal said: "Affordable housing is in increasingly short supply in Leyton.  This development has brought a redundant site back into use and put home ownership within reach of local people who would otherwise be priced out of the market.  The area is buzzing with regeneration, and good quality affordable housing has a key part to play.”

The shared ownership homes offer a fitted kitchen with appliances, fitted carpets, audio and video entry phone system, smoke detectors, gas central heating, double glazed windows, and optional parking bay.

The second phase of eight one-bedroom apartments and 11 two-bedroom apartments will be available in the autumn.

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Press release issued: August 9 2006