A new development of much-needed affordable homes on North Tyneside has been officially opened.
The Camperdown site, known as Silverbirch, comprises 40 two-bedroom bungalows and two and three-bedroom homes through a shared ownership scheme being offered by Riverside Home Ownership (RHO).
Coun John Harrison, cabinet member for housing and transport, officiated proceedings by cutting the ribbon in front of an expectant audience.
He also met Michelle Kalthoeber, one of the development’s first buyers, and presented her with the keys to her new home.
Coun Harrison said: “It is a great honour to formally open Silverbirch. This new development is exactly what the area needed and many first-time buyers and families now have the chance to take the first step to owning a property.
“The housing market in the North East will certainly benefit from more affordable homes and I look forward to seeing this growth over the next few years.”
Michelle, 35, was able to buy a new three-bedroom townhouse with a £16,600 deposit and will have a 45 per cent share in the home.
Michelle said: “The location of Silverbirch is what first attracted us to the site – it’s perfectly positioned for my husband to get to work and for my sons to get to school and college.
“We wouldn’t have been able to afford this style and size of house without the shared ownership scheme. One of the main benefits is that we will eventually own the property outright by simply buying more shares over the years. We’re delighted to be moving in to our dream forever home.”
The new development has been welcomed by many and offers the local and wider community the opportunity to own a share in a new, energy efficient home.
RHO, in partnership with leading regeneration specialist Galliford Try Partnerships North, is contributing to the delivery of 131 new affordable houses across the borough.
Sean Egan, managing director with the developer, said: “We are pleased to have, once again, worked with Riverside on a development which improve the quality and choice of homes for people of the North East.
“This is one of the core aims of our business and increasingly we are forging partnerships with the housing providers to create modern, safe and eco-friendly new neighbourhoods for communities across the region.”
Nonie Campbell, sales negotiator at RHO commented: “It is fantastic to welcome Coun John Harrison to the Silverbirch development today and present Michelle and her family with the keys to their beautiful new house.
“Since we announced our plans, interest has been incredibly high and many properties are now reserved. We recommend prospective buyers to contact us soon to avoid missing out.”
Each home at Silverbirch is built with modern living in mind and include a new fitted kitchen complete with integrated appliances, generous sized living areas, spacious bedrooms and a contemporary family bathroom. A show home is also now open to the public.
Shared ownership means people can buy a share in a property and pay rent on the part that you don’t own. A range of share options are available and buyers will benefit from expert advice and support from RHO’s team.
Prices start from just £32,500 for a 25% share in a two bedroom home and £40,000 for a 25% share in a three bedroom home.
Riverside Home Ownership is the specialist affordable home ownership and leasehold division of The Riverside Group, which was established in 1928 and now owns or manages over 50,000 properties nationwide.
More information can be found at: www.riversidehomeownership.org.uk