A sought after regeneration development has reported it’s rent-to-buy homes have been snapped up within days of being advertised.
We invested £5.4 million over two years to improve the properties on the York Hill estate in Spennymoor. The large-scale regeneration project involved the refurbishment of homes including improving the external appearance, environmental standards of properties and the estates open spaces.
Six of the newly refurbished homes were available through our first ever rent-to-buy scheme, which enables aspiring homeowners to benefit from a reduced rent over a three-year period allowing them to save up a deposit to buy the home at the end of the term.
Following an open day, we were inundated with applications for the homes all of which have been successfully allocated.
Rent-to-buy tenant and future homeowner Laura Ramage, said: “We have fallen in love with this home. The scheme we have gone for allows us to build up our deposit and own our own home. It just wouldn’t have been possible without it.”
The regeneration development also offered a range of two, three and four bedrooms for sale of which over half are now sold.
Executive director of operations Alan Boddy said: “We knew early on in the project that we wanted to offer a variety of rental and purchase options on the estate to cater for a range of homeowners. Uptake has surpassed all of our expectations and we could not have wished for a better result for the community.”
For more information on the project visit livin.co.uk/yorkhill.