Shared ownership brings new, affordable housing to Cheadle Hulme

September 12, 2014 4:20 PM

Mark Hunter, MP for Cheadle constituency, today viewed a new housing development on Turves Road, Cheadle Hulme, which has been built by Stockport Homes and have been offered on a shared ownership basis.

Shared ownership schemes are provided through housing associa

Eastings Close Stockport Homes Shared Ownership

From the left, Sefa Amesu, Development Officer, Stockport Homes, Steve Leonard, Head of Assets and Development, Stockport Homes, and Mark Hunter MP

tions; house-buyers take out a mortgage to pay for a share of their new home (between 25% and 75% of the home's value) and pay rent on the remaining share.

The development is on the site of the former Turves Road Scout Hall, home to the 3rd Cheadle Hulme Scout Group. The hall was in a poor condition and its visual appearance was making it difficult to attract new community groups to use the facilities. Stockport Homes worked in partnership with the Scout Organisation to refurbish another existing hall within walking distance, allowing the Scout Group to relocate to a new, modern and fit for purpose home. Stockport Homes then demolished the old hut to make way for the new development.

The new street is called Eastings Close, are there are three, two bedroom houses, and eight, three bedroom houses. The houses are built to high sustainability standards, with enhancements such as solar panels which will save residents up to £130 per year on their electricity bill.

Commenting after the visit, Mark Hunter said:

'This whole development is a good news story; the Scouts and the local community have a new and improved meeting place, the previous dated and unkempt hall has been removed, and eleven new, affordable homes have been built.

'Shared ownership schemes are a brilliant way to help people to get onto the property ladder, overcoming what can be an extremely daunting amount of money that is required for a first deposit.

'I'd like to welcome all the new residents that move into the houses of Eastings Close, and I hope that they have a very happy time here in Cheadle Hulme.'

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