First Shared Ownership properties for Stockport Homes

Published by Cheryl Harrison for Stockport Homes in Housing and also in Communities, Environment

Work is well underway to redevelop a former Primary school site at Blackberry Lane, Brinnington. Stockport Homes and its contractor, Mansell Construction, are building eight, three bedroom homes for shared ownership on the former Tame Valley primary school site following a £288,000 investment from the Homes and Communities Agency (HCA).

The houses will be available on a shared ownership basis, with the aim of providing a choice of affordable living for local people. The properties are available to purchase now and are due to be completed late October this year.

Houses will benefit from their own private rear gardens, fitted kitchens and bathrooms and off road parking. Properties are finished to code for sustainable homes level three which will mean substantial reduced running costs.

Helen McHale, Chief Executive of Stockport Homes Limited, said:  “We are delighted to be commencing work on what will be our first shared ownership scheme. Shared ownership properties offer a life line to young working households who have been priced out of the housing market or have insufficient deposits to access favourable rates of mortgage lending.”

Mark Hudson, Director of Technical Services at Stockport Homes, added: “We have worked closely with Stockport Council to secure and promote the site through the planning process to help bring these high quality shared equity homes to market and hope they will prove popular with local people.”

Purchase prices for a 50% stake will start from as little as £57,500, with a weekly rent of £30 to cover the outstanding equity.