Demonstrating the desire for space across the country, Nationwide reveals that three-bedroom homes remain the most sought-after type of property in the UK.* With the median average of a three-bedroom home in London reported at over £800,000, this popular dwelling is typically considered out of reach for first time buyers.**
Through Shared Ownership, Catalyst is making additional bedrooms more attainable for first time buyers in the capital, at The Switch, a collection of one, two and three bedroom apartments in Wimbledon. Prices for a three bedroom apartment start at £152,500 for a 25% share, a significant 79% less than the average London asking price.
Now over 70% reserved, The Switch consists of 181 Shared Ownership apartments, and is part of a landmark joint venture with Galliard Homes delivering 633 homes and new retail and leisure space, set around a new 9,000-seat stadium for AFC Wimbledon.
Offering further savings at The Switch, research by Zoopla has found that living in a new build home can help save on energy bills.
Alex Rose, Director of New Homes at Zoopla comments: “For buyers that have sustainability front of mind, purchasing an energy efficient new build home could not only positively impact the environment, but also lead to long term cost savings. Our analysis of EPC data shows that homebuyers who purchased a new build home last year saved an average of 52% on their annual energy costs in comparison to a second hand home.”
Catalyst’s collection of one to three bedroom apartments are finished to a stunning specification and all residents enjoy access to communal podium gardens. Kitchens are fitted with gloss grey designer units, stone worktops and integrated appliances, whilst bathrooms feature oak-veneered vanity units, mirrored cabinetry and tiled floors and walls. Select two and three bedroom apartments are set across two floors providing residents with a significant amount of living space rarely available in London apartments.
Residents can make the most of the neighbourhoods’ green spaces, with several parks within walking distance, including Wimbledon Park, Wandle Meadow Nature Park and Garratt Park. A vibrant food and culture scene can be found a 20 minute walk away at Tooting Bec Food Market offering a wide variety of gourmet street food. Closer by is Wimbledon Art Studios, a bespoke studio complex providing affordable art spaces for over 250 artists, makers and designers. Other Wimbledon highlights include over 120 shops, a large range of restaurants and bars, four theatres and the world-famous All England Tennis Club.
The development offers fantastic transport connections across the capital with Earlsfield station a 17 minute walk away providing a direct train service into London Waterloo from 13 minutes. Closer by, Haydons Road station has a 28 minute service into Blackfriars whilst for tube connections both Wimbledon Park and Tooting Broadway can be reached in 20 minutes by foot.
Already established as a popular neighbourhood for raising a family, residents can enjoy close proximity to a range of well performing schools including Earlsfield Primary School and Garratt Park School.
Prices start from £105,000 for a 25% share of a one-bedroom apartment (FMV £420,000), £133,750 for a 25% share of a two-bedroom apartment (FMV 535,000) and £152,500 for a 25% share of a three-bedroom apartment (FMV 610,000).