Croydon developments press release

October 09

The choice is yours with MHO’s affordable homes to rent or buy in Croydon

For immediate release
1 September 2009

Metropolitan Home Ownership (MHO) has a range of great brand new apartments in Croydon, with plenty of flexible options to rent or buy. Redsan Close on Sanderstead Road, and the stunning iBuilding on London Road are two brand new developments with affordable apartments waiting to be made into your home.

The iBuilding’s stylish city apartments are perfectly located within Croydon’s flourishing urban scene. The contemporary yet elegant design features graduated tiers ranging from five to nine storeys. Wide entrances and corridors create a fantastic sense of space and light, and the private lobbies each serve just a few apartments to provide privacy and security. West Croydon station is within walking distance and the cosmopolitan town centre, with bars, shops and restaurants in and around the high street.

1 bedroom apartments are built to a high specification and are available to rent for £559 per month, which is 20% lower than the current market rent. For £671.43 key workers can buy a 1 bedroom apartment through the London Wide Initiative.*

An eclectic mix of shops is right on your doorstep, selling fresh fruit, vegetables and groceries, as well as more exotic food and spices. For other everyday essentials, Tesco Express is just a short walk away. Trains from West Croydon take you to Battersea and London Victoria in under half an hour. Services run very regularly, with London-bound trains approximately every five minutes. There are excellent bus services for local travel.

If you’re looking for privacy in one of Croydon’s most desirable areas, Redsan Close is for you. It has a range of 6 two bedroom apartments that will appeal to those who love contemporary design coupled with state-of-the art facilities. The overall look is modern and the interiors are perfectly in tune with today's designer expectations. You can rent a two bedroom apartment for only £706 per month.

Sanderstead Railway Station is approximately half a mile away , providing a frequent service to London Victoria Station in under half an hour. There are also great bus routes. A bus journey into Croydon Town Centre takes about ten minutes, where you'll find a thriving night life with restaurants, pubs and
clubs. You'll also find over one hundred of your favourite stores including Marks and Spencer, Allders, Boots and BHS.

Bernie Conroy, Director at MHO, said “Our affordable new homes in Croydon are of an exceptional standard with great design and strong eco-credentials. These apartments are available to rent and buy, and we’re proud to be able to offer the flexibility of these two options to suit the different needs of different people.

“It’s a great time to buy in Croydon because the new East London line extension will provide fast connections to London’s Docklands from 2010. Croydon has all the essentials from supermarkets to a range of retailers in the town centre. For something more cultural, from film and comedy to art and music, the Croydon Clocktower has it all with a cinema, museum, gallery and library all under one roof.”

MHO has homes available through Intermediate Rent at both developments. Through the Intermediate Rent product, you can rent a brand new or refurbished home at less than the market rate. The rent charged is normally 20% lower than what you would expect to pay for a similar home in a similar area if you were renting from a private landlord. You have the added assurance that your home is built, managed and let by a Registered Social Landlord.

At iBuilding there is also the option for people to buy a new home through the London Wide Initiative. Under the LWI scheme, key workers can buy an apartment for only 72.5% of the current market value. The government funds the remaining 27.5% which is used as a deposit. You will only need to pay this back if you sell the property.


ENDS

Notes to editors:
All details and figures correct at time of print, September 2009.
* Total monthly cost calculation for LWI based on 100% mortgage at average 6.85%.


For press queries please contact Rebecca Roberts-Hughes on 020 8920 7787 or rebecca.roberts-hughes@mht.co.uk