Flora Court launches! 100% shared ownership development in Thornton Heath
Brick By Brick , the development company set up by Croydon Council to improve access to high quality and affordable housing, has launched its third development to the market, a collection of 24 shared ownership homes in Thornton Heath, south London.
All 24 of the one and two-bedroom apartments at Flora Court are available under shared ownership, with prices starting at £315,000, which means buyers can purchase high quality, architecturally designed home for as little £78,750 (25% share).
As Croydon Council is Brick by Brick’s sole shareholder, all profits from the sale of Brick by Brick homes are returned to the council as a dividend, which can be used to provide further affordable homes or fund council services.
Flora Court also includes three affordable rented homes, which will be handed back to Croydon Council and managed by Croydon Affordable Homes, a charity set up by the council to provide much-needed housing for Croydon residents on the council housing waiting list.
The homes, which are prioritised for Croydon residents for the first two months, are set along a mews adjacent to the library and approximately five minutes’ walk from Thornton Heath station. All have private balconies or gardens and striking interiors.
Thornton Heath is a popular yet affordable area of south London, with great connections into central London and Croydon, making these homes ideal for people looking to get on the housing ladder.
Colm Lacey, Brick By Brick chief executive, said:
“Brick By Brick was set up to deliver beautifully designed, high quality homes that are accessible for local people. Flora Court epitomises this approach, providing 24 homes for shared ownership as well as three homes for the council to house those most in need. We are exceptionally proud of this development and can’t wait for the first residents to move in.”
Councillor Alison Butler, Croydon Council’s deputy leader and cabinet member for homes and Gateway services, said:
“The council set up Brick by Brick to boost the supply of homes for Croydon people that are good quality and genuinely affordable, so this progress with Flora Court is very encouraging.
“This will be the first of many Brick by Brick schemes giving local people affordable rented homes, which will remain in the public sector for those in need for many years to come.”
Designed by award-winning architects Pitman Tozer, the homes at Flora Court are accessed from walkways that overlook the mews courtyard, giving an open feel and offering opportunities for neighbours to meet. The upper floors, reached via an internal staircase, have views over the suburban streetscape of pitched roofs and the attractive gardens of the library. A secure cycle parking area is located on the ground floor near to the main entrance, making it really easy to get your bike first thing in the morning.
The apartments are generously proportioned, offering open and light-flooded living spaces, with natural materials such as timber parquet flooring in living areas, and oak shelving in kitchens and bathrooms. The bedrooms are carpeted to give a comfortable feel. All homes have balconies or garden spaces, allowing residents to enjoy some fresh air, and there are a number of different one and two-bedroom apartment layouts to suit all needs.
The launch of the homes at Flora Court comes after Brick by Brick made its first homes available for sale in March with two schemes in Upper Norwood: the Auckland Rise & Sylvan Hill development, which provides 57 one and two-bedroom flats, including 19 for shared ownership; and the Ravensdale & Rushden development, which provides 30 one and two-bedroom flats and two and three-bedroom houses, which will be sold for private purchase, with Help to Buy available for the flats.
This month the period which allows Croydon residents priority in the purchase of the homes at Auckland Rise & Sylvan Hill and Ravensdale & Rushden comes to an end, allowing residents outside of Croydon the same opportunity to purchase the homes.
Brick By Brick currently has over 1,200 homes actively in development and a pipeline of sites capable of delivering 500 homes per year into the future, with around half of the homes being affordable.
Sites tend to be old garages, car parks, vacant buildings or disused land. Brick by Brick is committed to delivering beautifully designed and affordable homes, and creating places where people genuinely want to live.
Brick By Brick has won several awards for design, and a great deal of care and attention is taken to ensure that everyone involved in the creation of a Brick By Brick home fully understands that quality and attention to detail is absolutely crucial.
About Brick By Brick
Brick By Brick is a development company established by Croydon Council in 2016. It was established with the goal to increase the supply of new and affordable homes in Croydon. While Croydon Council is the sole shareholder of Brick By Brick, the company is an independent commercial venture with its own Board of Directors and acts separately from the council. The CEO and Managing Director of the company is Colm Lacey.
A key goal of Brick By Brick is to ensure people in Croydon have access to high quality and affordable housing. The Brick By Brick structure means that the full value of development activity is kept within the borough – whether in the form of interest accrued or dividend returned to the council to help fund council services, or additional affordable housing and physical improvements in local centres.