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Shared ownership unlocks new Sudbury homes
15th July 2008
A new scheme of 12 shared ownership homes for local key workers in Great Cornard, Sudbury are on sale through one of the region’s leading housing associations.
Colchester-based Colne Housing Society is now taking reservations from key workers, who earn less than £28,000, and who may not normally be able to afford to buy a home outright on the open market in the Great Cornard area.
The shared ownership homes scheme is the latest release from Colne Housing during its 35th anniversary year programme.
The first phase of homes include a mix of terraced or semi-detached houses and maisonettes and some have been built around a new “village style” greensward area. They are part of a larger housing development on the Bures Road, Great Cornard, Sudbury.
Key workers, who can move in from September, may include local authority teachers, health service workers, police, fire and ambulance workers and local Government workers among others.
Colne Housing will give priority to key workers who live, work or have close links with the Great Cornard and Sudbury areas.
The first phase is now on sale and it includes six two-bedroom houses, either semi-detached homes or terraced homes, two three-bedroom semi-detached homes and four two-bedroom maisonettes.
The scheme works by giving key workers the chance to buy a stake in the home – typically a 50 per cent share, but this is variable – with the remaining percentage owned by Colne Housing Society.
A typical 50 per cent share will cost from £67,500. Buyers will also pay an affordable monthly rent to Colne Housing of around £160.
Colne Housing’s Leasehold Manager Jennifer Spencer says: “We are expecting these new homes to be very popular as it is a very attractive development in a rural area.
“Colne will prioritise all inquiries and each of these new homes will eventually be allocated on a first-come, first-served basis within their priority group.
“We are aiming these homes at Sudbury’s key workers to help key workers stay in their home district and use their skills locally.”
The Great Cornard scheme has been developed by Colne Housing working in close partnership with development company Iceni Homes and Babergh District Council.
For further information and full details on how the shared ownership scheme operates you can contact Jennifer Spencer at Colne Housing on 01206 244742 or info@colnesolutions.co.uk or you can download an information pack and application form.
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