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Gadwell Quarter offers shared ownership homes in a vibrant area

NHG Homes is currently marketing apartments as part of Woodberry Down’s 64 acres of regeneration

Image shows a computer generated artist's impression of Gadwell Quarter in Woodberry Down
An artist’s impression of Gadwell Quarter in Woodberry Down

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The arrival of the Elizabeth Line in Canary Wharf has changed the game for those seeking to buy a home.

Its rapid connections to other parts of London – directly and indirectly – make living in other parts of the capital significantly easier by cutting commutes to areas that offer something different to the neighbourhoods of east London.

Take Woodberry Down, for example.

NHG Homes is currently marketing shared ownership properties at Gadwell Quarter – part of Berkeley Group’s 5,500-home regeneration of 64 acres of land in north-east London. 

Located next to Manor House Tube station on the corner of Finsbury Park, it’s now about half an hour from the Wharf via the Piccadilly Line, national rail services to Moorgate and a swift six minutes on the Liz Line via its convenient subway link to Liverpool Street.

The immense scheme sits opposite two reservoirs fed by the human-made New River and includes some 15 acres of parkland.

It boasts an established community with a pub, gym, supermarket and post office on site too.

But the north-east London location offers more. 

Image is of a show home bedroom at NHG Homes' development in Woodberry Down
NHG Homes has just launched a new show home at the Woodberry Down development

an established neighbourhood

There’s the vibrancy of Green Lanes down the hill with its Turkish bakeries, food shops and restaurants.

Then there’s Finsbury Park itself, which has a boating lake, running track, baseball ground, tennis courts, American Football pitch and some of the friendliest squirrels in London.

To the south, residents will find the Castle Climbing Centre – a vast facility housed in a former Victorian pumping station – on their way to Clissold Park and the independent shops, bars and restaurants of Stoke Newington.

While Woodberry Down itself is a major slice of regenerated land, the communities and areas around it have been evolving for generations with all the granular intrigue and quality this lends to a place.

So what can you get for your money when buying into this Zone 2 location?

Image is of a show home bedroom at NHG Homes' Gadwell Quarter
One and two-bedroom homes are available

Gadwell Quarter, a place to buy…

NHG Homes recently launched a new show home as a focal point for its offering of one, two and three-bedroom apartments at Gadwell Quarter – a four-minute walk from the Tube station.

Properties feature open-plan layouts, full height glazing, private outdoor space, walk-in showers, fully fitted kitchens, laminate flooring and carpets in the bedrooms.

Prices for a one-bed start at £120,000 for a 25% share, while two-beds start at £158,750 for the same percentage.

 “We’ve seen huge demand for homes at Woodberry Down over the years as the dynamic community continues to grow in this up-and-coming area of north-east London,” Diana Alam, director of sales and marketing at NHG Homes. 

“With many Londoners struggling to get on the property ladder, we’re pleased that buyers will have the opportunity to choose London – and specifically Woodberry Down – as their home with shared ownership.  

“High quality homes at Gadwall Quarter offer the perfect blend of tranquil nature and contemporary urban living.”

Wharfers considering a move away from Docklands won’t need to worry about access to watersports either.

The nearby reservoirs offer sailing, kayaking and canoeing or just the chance to explore Woodberry Wetlands, a haven for urban flora and fauna created in partnership with the London Wildlife Trust.

Image is of a show home balcony at NHG Homes' Gadwell Quarter
Properties at Gadwell Quarter come with balconies

key details: Gadwell Quarter

Starting prices for one and two-bedroom homes are based on full market values of £480,000 and £635,000.

Under shared ownership, buyers purchase a minimum of 25% of the property and pay rent on the remainder as well as a service charge.

Typically this is cheaper than renting a home on the open market. 

Deposits are also lower than with private sale as the buyer may be able to secure a mortgage with as little as 5% of the quarter they are buying – that would be £6,000 for the entry level one-bed at Gadwell Quarter.

Find out more about the apartments here

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
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NHG Homes offers buyers in London a way to buy property for less

Housing association has a wide range of shared ownership homes available in the capital

Image shows brick-clad residential blocks generated by a computer surrounding a two-storey red building at Kidbrooke Square
An artist’s impression of NHG Homes’ Kidbrooke Square development

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Deposits are typically the biggest hurdle for young people seeking to purchase a home in London.

The average house price in the capital (according to the latest figures from the Land Registry) currently stands at just over £500,000. 

That means buyers on the open market would need at least £25,000 to purchase with a 5% mortgage and more likely £50,000 for a more affordable 90% loan-to-value deal.

While cheaper properties are, of course, available, the need to raise such sums remains a significant obstacle to getting on the ladder. 

priced out – an NHG Homes survey

A recent survey of prospective first-time buyers by Opinium and affordable housing provder NHG Homes (part of housing association Notting Hill Genesis) found 81% of those aged 18-24 did not have access to a deposit of more than £40,000 – the 10% necessary to access many homes in the capital. 

The study showed the average deposit buyers they had managed to put together was £22,963.

A computer generated image of open landscaped space at NHG Homes' Kidbrooke Square scheme
Kidbrooke Square will feature plenty of open space

income sources

It also revealed that, in a nation hit by a cost of living crisis, nearly half of 18-to-24-year-olds were looking at taking on second jobs to raise extra cash to put towards a home.

The survey also found 43% would be willing to hold off on having children to help them get on the ladder earlier in contrast to less than a quarter of those aged 25 or older.

The same did not apply with pets however, with a third of older buyers willing to go without an animal companion to save money as opposed to just under a fifth of adults aged 24 or younger. 

family assistance

Opinium and NHG Homes’ study also showed that using cash from family was still a major source of funding for house purchases.

Around a quarter of those aged 35-44 said they were relying on money from parents to help them get a foot on the ladder, while 23% of people in relationships were looking to do the same to finance their first home.

Other relations were also listed as an important source of funds, with nearly a fifth of respondents aged 18-34 saying they were expecting to use contributions from family members who weren’t their parents. 

Image shows a grey fitted kitchen in a property at Kidbrooke Square
Deposits on shared ownership homes can start from as little as four figures

an alternative from NHG Homes

Nearly half of respondents said they would consider shared ownership, if it meant they could purchase a property in the capital. 

The scheme offers buyers the option to purchase a portion of a home while paying rent on the remainder.

It often works out cheaper than renting – especially given recent increases across London – and deposits start at 5% of typically a quarter of an apartment. 

That means buyers with as little as £5,000 saved can potentially buy into a home worth more than £370,000 and live there as though they owned the whole thing.

NHG Homes sales and marketing director, Diana Alam, said: “Getting on the property ladder in London is a real challenge for first-time buyers, and it’s not surprising to us that many are having to look beyond their main source of income to save the amount needed for a deposit. 

“Whether it be getting a second job or asking family members for a helping hand, this research has shown that buying through the open market in the capital requires more than simply setting money aside every month – particularly for younger buyers.

“The proportion of first-time buyers who would consider using shared ownership to purchase in London shows just how important it is to offer more affordable routes to home ownership.  

“We’re proud at NHG Homes to offer properties across the capital that require deposits as low as four figures, meaning first time-buyers don’t have to choose between staying in London and getting on the property ladder.”

Image shows a bedroom at NHG Homes' Kidbrooke Square scheme in Greenwich
NHG Homes offers a wide range of shared ownership properties including this one at Kidbrooke Square

key details

NHG Homes offers a wide range of shared ownership options across London.

For example, one, two and three-bedroom homes are available to buy at Kidbrooke Square via shared ownership, with prices starting at £93,125 for a 25% share and a minimum 5% deposit of £4,594. This is based on a full market value of £372,500.  

Average monthly costs for a one-bedroom are estimated at £1,386, including mortgage payments, service charge and rent on the un-owned portion of the property.

Find out more about Kidbrooke Square here

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
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