Addiscombe Oaks by L&Q
Latest figures from between January and August show that the number of first-time buyers in the UK has fallen by more than a fifth, compared with the same period last year, with inflated mortgage costs described as the main contributing factor.* Providing an answer to unachievable property prices, L&Q has improved affordability on selected homes at their Croydon development, Addiscombe Oaks, to reduce monthly outgoings and income requirements, making it more achievable to get onto the housing ladder in London.
Giving aspiring purchasers a chance to view the homes in person, L&Q is hosting a homebuyer event at Addiscombe Oaks on Saturday 21st October, taking place between 10am and 5pm. The event will provide an opportunity for first-time buyers to learn more about the Shared Ownership process and view the show home at the new well-located development. L&Q’s sales team will be available to answer any questions guests may have and light refreshments will be provided, including brownies from a local Croydon baker.
Conveniently placed a stone’s throw away from East Croydon Station, Addiscombe Oaks is a collection of 137 studio, one-, two- and three-bedroom apartments. With a large proportion of the homes available through Shared Ownership, the development offers the perfect opportunity for a range of first-time buyers, from couples and small families to young professionals, to step onto the property ladder in South London. Encapsulating the best of city living, Addiscombe Oaks provides everything on a first-time buyer wish list – a great location, speedy transport links and private outdoor space.
Claire Brenlund, Sales and Marketing Director at L&Q comments, “Our Shared Ownership homes at Addiscombe Oaks present an affordable route to homeownership in this South London hotspot. Total monthly costs – which includes mortgage, rent and service charge – for a studio currently starts from just £1,034, with deposits from as low as £3,875.**
“Our October event is a fantastic opportunity for hopeful buyers to speak to our sales team in person and learn more about the options available at Addiscombe Oaks. Customers who attend on the day can also receive an additional £1,000 towards their buying costs, on top of our current incentive of £3,000 on reservations taken before the 31st October.”***
Stylish and filled with natural light, apartments at Addiscombe Oaks are designed for modern living. Kitchens are fitted with several contemporary features including soft close doors and drawers with brushed bronze arched bridge handles and pelmet under cabinet lighting. Plus, homes are built to L&Q’s New-build Quality Standard which guarantees premium fixtures, fittings and finishes without hidden additional costs, meaning buyers benefit from integrated appliances including oven, ceramic hob, fridge/freezer, dishwasher and integrated extractor included as standard. Enabling residents to put their own stamp on their new home, finishes of white emulsion painted walls and ceilings, white satin architraves and skirting boards and Karndean flooring to hallways and kitchen/living/dining areas create a sleek blank canvas. Every home comes with private outdoor space and access to communal gardens.
Combining thriving city and convenient living, Addiscombe Oaks benefits from exceptional connectivity, an array of nearby amenities and facilities as well as lots of green spaces on the doorstep. Within easy walking distance of the development there are five supermarkets, three shopping centres and a wealth of food and drink options, including popular local hotspot BOXPARK. Providing respite from the busy urban environment, the Queen’s Gardens is a public garden in the centre of Croydon with areas of lawn, a central fountain, and a play area. Plus, Park Hill, Lloyd Park, Wandle Park and South Norwood Country Park are all within easy reach.
Addiscombe Oaks is situated just moments from East Croydon Station, one of the busiest public transport interchanges in the UK, making the apartments ideal for young professionals seeking swift commuter links. Regular and fast services providing direct access into London Victoria and London Bridge, linking users to the London Underground network. Train services include Thameslink and Southern Rail and East Croydon Station also provides quick links to Brighton and Gatwick Airport. For travel via tram, East Croydon has three tram routes linking residents at Addiscombe Oaks to Elmers End, Beckenham Junction and Wimbledon to New Addington. Those who’d rather travel by bike are well taken care of, with a choice of cycle routes to make getting around on two wheels safer and more efficient.
Shared Ownership prices at Addiscombe Oaks start from £77,500 for a 25% share of a studio apartment (full market value: £310,000).
Appointments for the sales event must be booked in advance by calling the sales team on 020 8189 7518.
For more information, please visit: https://lqhomes.com/addiscombeoaks/.
*The Guardian, September 2023, First-time buyers in UK drop by a fifth as higher mortgage costs bite | Housing market | The Guardian
**Monthly costs based on 30-year mortgage term at 6.5% interest rate, modelled on purchasing a 25% share of a studio apartment with a deposit of £4,063. Interest rates and monthly costs will vary based on individual circumstances.
***Quote code: ‘Home Sweet Home’ to receive an additional £1,000 towards buying costs, on reservations taken before 31st October. Terms and conditions apply – speak to the L&Q sales team for more information.
