We are delighted to announce the opening of our first Shared Ownership show home at our affordable development, Cricketers Hill, which is being built in the Carley Hill area of Sunderland.
The Finchale, three-bedroom home, is the first of our bespoke, modern house types that prospective Shared Ownership buyers can visit. With Shared Ownership, buyers can own the brand-new, three-bedroom home with a deposit from £4,100, based on a 40% share and a 5% deposit and move in for Spring 2025.
Our Shared Ownership homes all come with a two-year Aftercare Guarantee, energy efficient air source heating, solar panels and high-performance glazing, carpets fitted throughout with vinyl flooring in wet areas, shaker-style kitchen with integrated appliances, private parking and an electric car charging point.
Joanne Gordon, Homes and Development Director, said: “The opening of our show home is a milestone in our affordable development programme and reinforces our commitment to providing much needed affordable homes in Sunderland.
"We designed these homes with our customers at the forefront of every decision and from large windows to let in natural light to the installation of energy saving technology, we’re confident the homes will impress potential customers and improve the quality of life for those who move in.”
Shared Ownership is a government-supported scheme which allows aspiring homeowners to buy an affordable share from 25% to 75% of a high quality, brand new home. Home buyers pay for part of the home while renting the remaining share from Gentoo. This makes it an ideal opportunity for people who want to purchase a home but cannot yet afford to buy one on the open market.
Whilst this is our first Shared Ownership show home, a number of customers have already moved into new homes with Shared Ownership at other developments. One customer said:
“The home itself is stunning! It comes fully equipped with modern appliances, a beautifully turfed garden, and flooring and carpets throughout. And to top it off, it’s an electric home, which makes it more affordable to maintain in the long run and so eco-friendly.
“For anyone else looking to make home ownership more accessible, I’d highly recommend exploring Shared Ownership. It’s made my dream of owning a beautiful home a reality. This experience has shown me that homeownership is within reach, and it feels amazing to be able to call this place my own. Here’s to new beginnings!”
Working in partnership with RE:GEN, the £24.8 million Cricketers Hill development will consist of 115 homes including two-, three- and four-bedroom houses, two-bedroom bungalows and two-bedroom apartments when complete. The homes in further phases will be available for affordable rent, Shared Ownership and Rent to Buy.
Simon Watson, operations director for RE:GEN North East, said: “Our team at Cricketers Hill are doing an outstanding job, not only in managing a high-quality site but in delivering exceptional homes for Sunderland. The show home launch is an exciting milestone, allowing the public to experience firsthand the quality of construction happening right here in their community. We're proud to be a local contractor delivering these works, supported by a brilliant supply chain that shares our commitment to excellence."
The exclusive show home launch on Thursday 7 November saw a great turnout of prospective buyers keen to take a look around the high-quality home. Bradley Hall Mortgages was on hand to offer advice and support for achieving a mortgage decision in principle (DIP) which is a requirement to be able to reserve.
Find out more information about Shared Ownership or Cricketers Hill, or call 0191 525 5520 to make a viewing appointment.
