Oval Quarter - An Affordable Alternative

Posted: 7 August 2013 by Higgins Homes

Phil Tromans and Helen Boldon

FIRST TIME BUYERS find an affordable alternative AT OVAL QUARTER

With the average London house price rising by 6.4%,* first time buyers in the capital are finding it increasingly difficult to take their first step onto the property ladder. One couple, however, have managed to beat the odds, recently exchanging on a two bedroom apartment at Oval Quarter, a landmark development in South London.

Phil Tromans and his girlfriend Helen Boldon rented in central London before deciding to buy a property together. Phil comments, "We've always envisaged living in London and much closer to work. Renting felt like such a waste of money and we were keen to get onto the property ladder so we moved out of our flat in Westminster and stayed with a friend for eleven months in order to save money towards our deposit."

Phil continues "We originally looked for properties in nearby areas Vauxhall and Brixton, but couldn't find anything we liked within our price bracket. We also looked at slightly older properties but there were too many hidden costs. Oval Quarter offered a much more affordable option and, with the opportunity to buy a new build home off plan, we didn't want to miss our chance. One key attraction for the couple was the build quality at Oval Quarter.

Phil comments: "The development was still in its foundation phase so all we had to go on were floorplans and CGI's. We were instantly impressed with the quality of the apartments for the price you pay; not only do they offer a considerable amount of square footage but the specifications are extremely high. The fact that everything is already fully fitted, such as the kitchen appliances, is ideal for us and the open plan layout is great for entertaining." 

Conveniently located in zone 2 and with Oval tube station only a short walk away, Oval Quarter is the perfect home for city workers. Phil comments: "We both work in central London and I like to cycle in every morning, so location and good transport links were essential to us. Brixton Road is just around the corner, and being so close to Oval underground station means we have the rest of London at our disposal."

Coming to market on 14th September 2013, Higgins Homes and their joint venture partner, Pinnacle Regeneration Group are soon to welcome their first phase of private sale homes at the impressive new development, Oval Quarter. The 357 private sale units will form part of the Myatt's Field North housing regeneration project in South London. The entire PFI project will include the construction of 808 new build homes, 146 of which are shared ownership, and the modernisation and refurbishment of 172 existing homes. The five year project will be run by a consortium of partners including Regenter, John Laing, Lambeth Council, Higgins Construction, Pinnacle PSG, Rydon, and Eon. Providing more than just a new urban London village, Oval Quarter will offer new and existing residents a vast amount of open, green space within a zone 2 location. The entire scheme covers a total of 12.5 hectares, 7.2 of which are to include landscaped parkland and community gardens, reminiscent of London's celebrated "squares".

Oval Quarter will represent a fresh and dynamic community with its "walkable neighbourhood" layout of open streets and excellent on-site facilities including an express supermarket and other independent stores. A new, state of the art community centre will also form a centrepiece within the development with its floor to ceiling glass windows, open plan layout and high specification interiors. It will house a café, and become the central hub for a nursery, after school clubs and a venue for residents' and public meetings. With the first phase of private homes due for completion in December 2013, the design driven one and two bedroom apartments will be finished to a high specification with an open-plan living room and a fully fitted kitchen including a range of integrated Smeg appliances, creating the ideal area for relaxing and entertaining guests. All homes will include outdoor space, whether it be a private terrace or balcony. Plus, with each apartment built to a high level of energy efficiency, residents will benefit from reduced monthly bills. A complete revitalisation of Myatts Field North will provide a major uplift for this part of South London. It has the potential to totally transform the area that lies between Camberwell, Oval and Stockwell, bringing a sense of identity and pride back to local residents. In 2003 a survey by Lambeth Council revealed that over two thirds of residents wished to stay in the area but in new build homes*, proving that redevelopment is welcomed by many. With one bedroom apartments available from £272,500. Oval Quarter gives local renters the chance to step on to the property ladder and buy their first home within a prime, zone 2 location. *GLA London Housing Market Report *Source: PFI Consultation research

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