Peabody Shared Ownership Apartments Almost Complete

Riverside Quarter's Willow Walk prices start at £130,000

Willow Walk on Osiers Road
Willow Walk on Osiers Road

Peabody, one of London’s largest housing providers, has launched its new Shared Ownership apartments at Willow Walk on Osiers Road.

The new homes are part of the final redevelopment of the Riverside Quarter, previously known as Riverside West, which stretches along the Thames from Wandsworth Park to Bell Lane Creek.

Shared ownership prices start from £130,000, and have already launched for purchase. The development consists of one, two and three-bedroom apartments, each with a private balcony, and residents will also have use of private communal gardens. Landscaping has been inspired by the osier reeds that once grew in this Thameside location.

Willow Walk’s highest building is thirteen floors and the development is situated at 9, 11 and 19 Osiers Road. Construction began in January 2020, just before the Pandemic, with Peabody listed as the developer and Hollybrook as the main contractor, while the architect is Deptford based Burwell. There are 84 apartments available through Shared Ownership, including 60 two-bedroom, 18 one-bedroom and six three-bedroom spaces.

Peabody explains that, “Shared ownership is a government-backed scheme launched in 2006 for people who are unable to afford to buy a home at full market value.

“Shared Ownership houses in London help you get on the property ladder in an affordable way. You can usually buy an initial share of 25% to 75% of the value of a property, and you’ll need to take out a mortgage to pay for your share of the home’s purchase price.

“You will then pay a subsidised rent on the share you don’t buy, and there will also be a monthly service charge to be paid on your home.”

Willow Walk on Osiers Road
Willow Walk on Osiers Road

With local apartment prices topping £700k for a two bedroomed flat on the open market, Willow Walk is offering one-bed from £130,000 for a 25% share, and two-beds from £157,500 for a 25% share. Andrew Peglau, assistant director of marketing at Peabody, commented: “With demand for homes in London thriving, we are thrilled to be able to provide high-quality, affordable housing to buyers in Wandsworth.”

A name which has long been linked with housing in London, Peabody was founded by the American philanthropist George Peabody over 160 years ago, as the Peabody Donation Fund.

It is one of the largest housing providers in London and the south-east, delivering services to 220,000 residents. In 2017 the Peabody Housing Trust merged with housing association Family Mosaic, and rebranded simply as Peabody.

“Our ambitious house building programme aims to provide thousands of high-quality new homes for private sale, Shared Ownership, Rent to Buy and social rent,” a spokesperson said.

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July 18, 2022