Member Article

New shared ownership homes completed

A new development of affordable homes is being created in the Camperdown area of North Tyneside.

The site, known as Silverbirch, comprises 40 two bedroom bungalows and two and three bedroom homes through a shared ownership scheme being offered by Riverside Home Ownership (RHO) in partnership with leading regeneration specialist Galliford Try Partnerships North.

Cllr John Harrison, cabinet member for housing and transport with North Tyneside Council cut a ribbon and handed keys to one of the first residents, Michelle Kalthoeber.

He said: “It is a great honour to formally open Silverbirch. This new development is exactly what the area needed and many first-time buyers and families now have the chance to take the first step to owning a property. The housing market in the North East will certainly benefit from more affordable homes and I look forward to seeing this growth over the next few years.”

Michelle added: “The location is perfect for my husband to get to work and for my sons to get to school and college. We wouldn’t have been able to afford this style and size of house without the shared ownership scheme. One of the main benefits is that we will eventually own the property outright by simply buying more shares over the years.

Sean Egan, managing director with the developer, said: “We are pleased to have, once again, worked with Riverside on a development which improve the quality and choice of homes for people of the North East.

“This is one of the core aims of our business and increasingly we are forging partnerships with the housing providers to create modern, safe and eco-friendly new neighbourhoods for communities across the region.”

Each home at Silverbirch is built with modern living in mind and include a new fitted kitchen complete with integrated appliances, generous sized living areas, spacious bedrooms and a contemporary family bathroom. A show home is also now open to the public.

Shared ownership means people can buy a share in a property and pay rent on the remainder. A range of share options are available and buyers will benefit from expert advice and support from RHO’s team.

Riverside Home Ownership is the specialist affordable home ownership and leasehold division of The Riverside Group, which was established in 1928 and now owns or manages over 50,000 properties nationwide.

This was posted in Bdaily's Members' News section by Paul Dobbie .