Just two one-bedroom apartments remain at Parklands, available through Help to Buy and Shared Ownership respectively, offering a final opportunity to buy in L&Q's first phase of homes at Barking Riverside.
Following impressive sales success, the final apartments are expected to go quickly, with the first launch of 18 Private Sale homes having sold out within a month.
Following recent reports of house price growth in Barking having risen by 63.5% over the last five years - compared to 37.3% across London as a whole*, the new East London neighbourhood has already attracted a wide range of buyers, from young professionals commuting into the city to growing families looking for more space.
Claire Brenlund, Sales Director for London at L&Q, comments: “Parklands offers a wide range of properties through London Help to Buy and Shared Ownership, in an area of the capital where house prices are continuing to grow, which has resulted in impressive sales figures to date. These apartments offer buyers the opportunity to purchase a home at the start of the Barking Riverside masterplan, in what has proven to be an extremely sought after development.
Parklands offers buyers the chance to purchase at the very start of the Barking Riverside vision, which once complete, will be one of Europe’s largest brownfield developments. One of the most ambitious and significant developments in the UK, the masterplan will ultimately deliver 10,800 homes alongside new commercial, retail and leisure facilities. Covering an impressive 443 acre site with 2km of south facing river frontage, the town offers the benefits of Thames-side living without the typical price premium.
Included in the masterplan is provision for seven schools, with four already open and recently receiving some of the best results in the borough. Riverside Campus is the largest free school campus in the UK and will offer places for 2,600 pupils across a primary, secondary and special educational needs school.
Further crucial infrastructure in the pipeline includes a new Barking Riverside station, due to open in 2021, which is part of a £263 million extension to the London Overground. Once up and running, residents at Barking Riverside will be able to reach central London in just 22 mins.
Currently, Barking Riverside residents have Central London on their doorstep, with C2C trains running from nearby Dagenham Dock to London Fenchurch Street in 24 minutes. There are regular bus services running between the development and both Dagenham Dock and Barking Station, with the C2C, District and Hammersmith and City tube lines and London Overground running from the latter.
Homes at Parklands come equipped with contemporary kitchens, complete with gloss pearl units and a plethora of integrated top-of-the-range Zanussi appliances. Pristine bathrooms have smart white sanitaryware by Roca, as well as ceramic floor and wall tiles. The light-filled apartments each have their own outside balcony or terrace, each with access to communal outdoor areas.
All private sale apartments at Parklands will offer Londoners the chance to get on the property ladder through the Mayor of London’s ‘First Dibs’ initiative, with private sale homes at Parklands under £350,000 qualifying.
As well as one, two and three bedroom apartments, and four bedroom townhouses available through London Help to Buy, L&Q have one, two and three-bedroom apartments available through Shared Ownership.
Help to Buy prices start from £262,500 for a one bedroom apartment, and Shared Ownership prices start from £59,375 for 25% share for a one bedroom apartment (FMV £237,500).
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