Leading developer Galliard Homes are launching London’s best value starter homes at Papermill House in Romford in the Borough of Havering; a new scheme of 115 stylish apartments, ideal for First-Time Buyers, and the cheapest starter homes available in London for the last five years with prices from £195,000. The scheme is set to launch on the 10th September 2020, with huge demand levels reported in anticipation.
Papermill House, located at 363 South Street in Romford, is a courtyard development with the central Papermill House and four adjacent blocks offering contemporary living. Reaching six storeys high, the buildings have a brick façade with expanses of glazing; there are studios, one, two, and three bedroom apartments, with all homes on the new-build sixth floor having a private balcony or terrace. The first homes will complete Q4 2020, with the rest to complete early 2021.
Papermill House is the redevelopment of the former headquarters of Neopost (now Quadient), one of the world’s oldest and most successful Postal-Franking machine companies. The site was originally a flour mill, with Neopost House constructed in 1975 before the company’s headquarters and production relocated to Stratford in 2018.
Every home at Papermill House is available on the Government Help to Buy scheme, with Galliard revealing that a buyer’s monthly mortgage repayments could be under £500: taking out a mortgage of just £146,250 (assuming an interest rate of 1.4% over 35 years). Using the Help to Buy scheme, First-Time Buyers choosing a studio apartment priced from £195,000 would pay a £9,750 deposit, a very affordable option for young Londoners looking for their first home.
In addition, every buyer at Papermill House will be gifted a free furniture package worth £10,000 or £15,000 dependent on the apartment value, as well as a service charge contribution of £1,000 per year for the first three years, a generous boost for First-Time Buyers. For investors, the Stamp Duty Holiday means this is an ideal time to purchase and expand portfolios.
Ahead of the launch, Galliard have unveiled a state-of-the-art marketing suite and four dressed show apartments located across an entire floor of the building, designed to offer all the benefits of social distancing, presented and operated to the highest standards, with buyers encouraged to book an appointment to view the homes.
The apartments at Papermill House will offer a high-quality specification, including oak plank effect click flooring throughout and built-in wardrobes to the bedrooms. There will be fully integrated designer kitchens with recon stone worktops and grey glass splashback, with white marbled porcelain wall tiling to the bathrooms, and select studios will have a bespoke swivelling shelving unit with flat screen TV included. There is car parking available at additional cost, as well as a car club with ZipCar and secure cycle storage.
David Galman, Sales Director at Galliard Homes said, “Papermill House is the most exciting launch of the year for First-Time Buyers; requiring a Help to Buy assisted mortgage of just £146,250, these are the best value homes in London. This is the opportunity for those who never thought they could own a home to buy at a stylish, affordable scheme. Galliard has not launched a scheme of this value for First-Time Buyers for five years, this is an exceptional opportunity and we anticipate huge demand from Londoners to secure their first home.”
Neopost was once the world’s largest Postal-Franking machine manufacturer, providing office technology since the start of the twentieth-century. Originally producing ‘Roneo’ machines, Rotary Neostyle duplicator machines, the factory moved from Haveringwell to the site on South Street, which was renamed Roneo Corner in recognition. By 1924 British Neopost Ltd. was making a single value postal franking machine, and by 1962, a quarter of all letters handled by the Post Office were franked.
Papermill House is ideally located for residents wanting to enjoy Romford’s centre with the designer retail malls a 15 minutes walk from the development, as well as cafes, entertainment centres and independent shops. The town offers a range of restaurants, bars and cinema with a vibrant nightlife.
The development is well-connected for accessing central London, with Romford station just 13 minutes walking distance; with the forthcoming Crossrail service, the commute into London will be within 30 minutes. For road connections, the M25 can be reached in less than 15 minutes.
Papermill House is launching Thursday 10th September, with viewing of the marketing suite and show apartments by appointment only. Prices start from £195,000 for a studio apartment, with Help to Buy available. For further information, please contact 020 7620 1500 or visit www.galliardhomes.com.