Affordable new homes launched in Shoreditch

Genesis has launched a collection of modern new homes in the heart of trendy Shoreditch. The first phase at Mondrian is made up of just 14 one and two bedroom affordable apartments suited for young professionals looking for a home in the city. Available through shared ownership, this fashionable area of East London is now more accessible than ever.

The development is located on the site of the former Mildmay Mission hospital off Shoreditch High Street, incorporating modern architecture designed to be sympathetic to the historical surroundings. Once completed, Mondrian will see a range of one to five bedroom apartments and maisonettes in four buildings with mixed tenure.

Through shared ownership, buyers can purchase just 25% of the value of the property, making owning their home far more achievable. Prices start from £110,000 based on 25% of the full market value of £440,000.

The contemporary apartments at Mondrian are designed to a high quality specification, with wood flooring, white gloss walls and private balconies to all apartments. Kitchens boast granite worktops, chrome fittings and integrated Bosch appliances. The homes are built with a Fabric First heating system, making them highly eco-friendly from the build stage, enabling residents to keep energy bills to a minimum: communal district heating systems, triple glazed windows and denser walls all work together to keep apartments comfortable.

Shoreditch is a vibrant and colourful neighbourhood, and has become increasingly popular with young city workers. With a buzzing nightlife of bars and clubs, the famous Brick Lane, Spitalfields and Columbia Road Flower Markets all only minutes from the development, it’s no wonder the area has become a byword for cool. Shoreditch has a long history with the arts scene, being the entertainment central of East London during the Victorian times.

Ideal for commuters, residents can benefit from superb travel links at Mondrian. Hoxton and Shoreditch High Street Overground stations are both less than a 10 minute walk away, where trains to Canada Water take just over 10 minutes. Multiple bus routes run from adjacent to the development, taking residents direct to Liverpool Street, Tower Bridge, London Bridge, Waterloo, Holborn and Battersea. In addition, seconds from Mondrian is a Barclay’s Cycle Hire docking station, and the area is part of the London Cycle Network: residents can cycle to London Bridge in approximately 15 minutes.

Through shared ownership buyers can purchase between 25% and 75% of the property, paying subsidised rent on the remainder, and can increase their share at any time, all the way to 100% and outright ownership. The scheme is specifically designed for first time buyers whose household income is less than £66,000 a year and priority will be given to those who live or work in the London Borough of Tower Hamlets.

Guide prices are as follows: one-bedroom apartments are available from £110,000 for a 25% share, based on a full market value of £440,000. Two-bedroom apartments are available from £147,500 for a 25% share, based on a full market value of £590,000.

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