New luxury apartments designed exclusively for the over 55s and available for shared ownership are under construction in Penkridge, thanks to leading Midlands landlord whg and developers Jessup Brothers.
Swallow Place, a £9.6m development formed of 65 high-quality one and two bedroom apartments, is due for completion this autumn.
Through shared ownership, potential homeowners will be able to own a share between 25% and 75% of the full asking price and pay rent on the remaining share. This allows homeowners to free up capital by selling their existing property, while maintaining the security of owning a share in their home.
Swallow Place is off Shakespeare Drive in the Lyne Hill Meadow development. The development will include communal areas and 45 car parking spaces, including electric charging points for vehicles. All of the spacious apartments in the three-storey development will have a private balcony and a modern fitted kitchen.
It comes as whg, which is marking its 15th year of operation this year, continues its ambitious housebuilding plans in the Midlands.
Mark Tranter, whg’s Director of Development, said: “We are delighted to see work underway at our new wellbeing scheme which is our first shared ownership scheme exclusively for the over 55s.
“The development is in a popular location and addresses the needs of local residents. Swallow Place will provide over 55s with a simple, affordable way to buy a share in a new home while paying rent on the remaining share and is perfect for those looking to right-size.
“whg is a serious and growing provider of homes and by 2020, we will have built or acquired 1,250 new homes in the Midlands.”
Swallow Place is being constructed by Cannock-based Jessup Brothers, who in 2018 are celebrating 30 years of developing homes around the Midlands.
Clive Jessup, Managing Director of Jessup Brothers, said: “Jessup are pleased to be the main contractor on this traditionally built, quality project, using our trusted local supply chain and skilled tradespeople to build 65 homes in the sought after village of Penkridge.”
To register your interest in a new home at Swallow Place, CLICK HERE.
Scroll through the images below to see CGIs of the luxury apartments: