Propertydescription how it works - Tenants pay market value rent for up to 20 years, with an option to purchase at any time from year 2, up to year 5 of the tenancy. If they decide to take up the purchase option, 50% of the rent paid to the date of purchase will count towards a deposit up to a maximum of 10% of the market value on day of purchase.
Creating a deposit and building up credit history is typically the major barrier to first time buyers – this arrangement tackles both. If, however, circumstances or personal choice means the tenants decide not to buy, by year 5, they still have the security of renting for a further 15 years; the choice is entirely their own.
This fantastic development is the result of a pioneering partnership between qsh, Plymouth City Council and South Devon Rural Housing Association (sdr). Plymouth City Council sold the building to qsh as part of its plan for Empty Homes initiative. The building has since under-gone quite a transformation, into 11 tastefully converted apartments. Sdr have been consulted on aspects of the development and once occupied, will manage the building and tenancies on behalf of the Landlord, qsh.
If you are looking at an easy way to get on the housing market then this is an opportunity not to be missed. Phone Maitlands on to discuss exact costs, prices, how it works and the benefits alongside the size and finish of the individual apartments.
Areadescription This property is very well centrally positioned close to Plymouth's famous waterfront and you are within walking distance of the City Centre, the historic Royal William Yard and Plymouth Hoe. A real up and coming area, with high class restaurants, wine bars and funky nightlife all in walking distance on the Barbican, this is a great spot to set up home.
Property descriptions and related information displayed on this page are marketing materials provided by Maitlands. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Maitlands for full details and further information.
Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.
Total annual consumption (in cubic meters) is then averaged into a monthly cost.
Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.