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Property: How Square Roots Lewisham offers shared ownership homes by the river

South-east London scheme’s apartments start at £106,250 for a 25% share of a one-bed home

An artist’s impression of Square Roots Lewisham

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The first development to feature in our focus on shared ownership is Square Roots Lewisham.

Delivered in partnership with developer London Square, the south-east London scheme presents prospective buyers with a collection of 141 one, two and three-bedroom apartments as well as duplexes.

Located beside the River Ravensbourne, the development is seven minutes walk from Lewisham Station for rail and DLR services offering links to Canary Wharf and the City.

Properties at Square Roots Lewisham feature fully fitted kitchens and bathrooms, private balconies or terraces for all apartments and space for home working.

The development boasts riverside walks, play areas and a communal roof terrace for residents as well as cycle storage, wireless door entry via handheld devices, a 10-year NHBC warranty and a two-year Square Roots customer service warranty.

Buyers can expect to be able to move into their properties this spring.

Square Roots is set to unveil a new three-bedroom show home at its Lewisham Sales Suite on March 16, 2024, and will welcome visitors from noon-4pm. 

Readers can find out more information about the event  by calling 0333 666 2535 or registering online at squareroots.co.uk.

The developer is also offering prospective buyers a package of incentives for those reserving properties at the full asking price.

Those purchasing a one-bed can get up to £4,000 of tailored benefits, while those opting for a two-bed can get up to £6,000.

The development boasts a communal roof terrace

Incentives include Window treatments from Thread And Dandy, John Lewis or Ikea vouchers, an annual travel card for Zones 1-6 or an annual parking space at Lewisham Shopping Centre.

London Square South managing director, Sean Gavin, said: “This is an outstanding opportunity for buyers keen to purchase a high quality new home close to the heart of London, which offers great value. 

“Square Roots Lewisham is part of an extensive regeneration of the town centre, where significant investment is being made.

“This is excellent news for buyers who are looking for an affordable home in a great location in the capital.”

Canary Wharf workers considering a home at the development can look forward to a commute of less than 30 minutes door-to-door.

Residents will also benefit from an extensive network of local cycle paths offering direct connections to Greenwich, Blackheath and Deptford.

Lewisham itself has seen an influx of capital and activity in recent years with regeneration projects that have delivered new homes and amenities.

The area continues to see strong price growth, with Rightmove recording a 6% rise in average values year-on-year, 11% up on the 2020 peak of £545,248. 

This contrasts favourably with trends in other areas of London, which have seen falls in recent years.

Square Roots was established by London Square two years ago with the aim of delivering 3,500 affordable homes over the next five years.

With 1,000 properties currently under construction, its schemes have already attracted recognition in the Evening Standard New Homes Awards and First Time Buyer Awards.

Square Roots Lewisham is set to launch a three-bedroom show home
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Prices at Square Roots Lewisham start at £106,250 for a 25% share of a one-bed apartment, based on a total market value of £425,000. 

The home extends to some 551sq ft and is available with a minimum deposit of just over £5,300 (5%).

Find our more about Square Roots Lewisham here

Read more: New events space Broadwick Studio launches on Wood Wharf’s Water Street

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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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Isle Of Dogs: Poplar Harca and FAHHA Landmark Pinnacle homes for less

Housing associations unveil show homes for shared properties in Europe’s tallest residential tower

The show homes have been dressed to show the apartments' potential
The show homes have been dressed to show the apartments’ potential

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The areas surrounding Canary Wharf and the estate itself aren’t exactly short of residential towers, but only one can lay claim to be the tallest in Europe.

Landmark Pinnacle stands at the head of West India South Dock, rising more than 230m into the sky.

While the majority of the properties in the tower are being sold privately, a collection of 70 apartments has been made available on a shared ownership basis.

Housing associations Poplar Harca and Funding Affordable Homes Housing Association (FAHHA) have taken on 35 each, with the former handling sales and marketing duties on behalf of both organisations.

Located in the lower third of the 75-storey building, the properties have been designed to offer views of either the sun rising in the morning in the east or setting in the west. 

Poplar Harca head of sales and marketing Helen Mason
Poplar Harca head of sales and marketing Helen Mason

Poplar Harca head of sales and marketing Helen Mason said: “Working with FAHHA, we have a total of about 40 one and two-bedroom apartments still available at Landmark Pinnacle for shared ownership.

Buyers can generally purchase between 25% and 75% and then pay a reduced rent on the remaining equity.

“The scheme is mainly targeting first-time buyers – single, professional business people or couples in full-time employment with a total household income of less than £90,000.

“You don’t have to be a first-time buyer, but you do have to be free of a mortgage and you can’t be on any other deeds to a property part-owned here or abroad. 

“All applicants are subject to a financial assessment to ensure the scheme is affordable and that their savings don’t push them over the threshold of being considered able to buy on the open market.”

Remaining properties at Landmark Pinnacle start at £135,000 for a 25% of a one-bedroom home with a market valuation of £540,000. Two-beds start at £188,750 for the same share.

Poplar Harca senior sales executive Ashton Wylie
Poplar Harca senior sales executive Ashton Wylie

Poplar Harca senior sales executive Ashton Wylie said: “When you actually look at the monthly outgoings on these properties it’s very reasonable, which people might not assume.

“It’s well worth looking into because it would cost a buyer between £1,504 and £1,638 per month to live in a one-bed and between £1,971 and £2,232 for a two-bed. That includes the rent and the mortgage on the portion of the property the buyer owns.

“We’ve kept the rents low – to 1.75% in comparison to a typical shared ownership rate of 2.75% to make sure these properties are affordable.”

Landmark Pinnacle is located within easy walking distance of all of Canary Wharf’s amenities and transport links.

“It’s an iconic building and the location is fantastic,” said Helen.

“For anyone working in the area, it has all that on its doorstep and the estate isn’t Monday-to-Friday any more – there’s so much going on at the weekends.

“There are lots of developments in the area, but people who have seen these apartments have been really pleased with the outlook, the specification and what’s on offer. They’ve been received really well.”

Apartments come with open-plan living areas, fully fitted kitchens with integrated appliances, rainfall showers in the bathrooms, climate control systems and floor-to-ceiling windows.

The one-bedroom homes also feature winter gardens that can be used for a variety of functions. 

The service charge covers access to the concierge service and the building’s indoor garden on the 27th floor as standard.

Unusually for shared ownership properties, buyers can also choose to opt to pay more and gain access to all of the building’s facilities, which include a private cinema, private dining rooms, 75th floor roof terraces, a lounge, a library and a residents’ gym.

The apartments feature an open-plan design
The apartments feature an open-plan design

“If you buy here, you’re buying into a lifestyle,” said Ashton. “We’ve had developments before that might have been amazing but didn’t offer shared ownership buyers the option to access the amenities.

“Here that doesn’t happen and because that’s possible it really allows people to live the lifestyle they want to. 

“Many of the people who have moved in have already expressed an interest in opting in when those facilities become available, which is set to be by next April. We expect more or less everyone to end up doing it.

“You can’t opt out again once you’ve opted in, but if someone buys a flat later on, they can always take up the offer then.”

Poplar Harca has show flats dressed and ready to view at the building. Under shared ownership, prospective buyers typically pay a 5% deposit on the share of the property they’re buying.

That means, for the cheapest home available at Landmark Pinnacle, saving up £6,750 to get a foot on the ladder.

Email sales.enquiries@poplarharca.co.uk or call 020 7538 6460 for more information

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