With recent news that Stamp Duty is costing the economy over £9bn and forcing 3.7m people to commute two hours every day, there is now a need for housing developers to make it easier for people to buy in desired areas of the UK. Leading London housing provider, Peabody, is responding by offering to pay Stamp Duty for those purchasing at their award-winning Zone 2 development, Merchants Walk.
On 2 and 3 September, those looking to purchase a home at the Bow development will have the chance to buy a luxury two- or three-bedroom apartment in Zone two without having to think about the extra cost of Stamp Duty.
The final collection of homes at Merchants Walk offer spacious open-plan interiors and stylish finishes. Kitchens are elegantly refined to create a seamless layout with handleless units, silestone quartz worktops and integrated Bosch appliances. Bedrooms are completed with luxurious rich pile carpets and master bedrooms feature built-in, mirrored wardrobes. All residents will have access to a private balcony, terrace or patio, with many offering stunning views of the London skyline.
Lisa Crush, Head of Sales at Peabody, comments: “With additional costs like Stamp Duty making it more and more difficult for people to purchase a home, Peabody is extremely pleased to offer this initiative to prospective purchasers at Merchants Walk.
By eliminating Stamp Duty for first time buyers, we are offering potential homeowners the chance to buy in a well-connected Zone two location without the added stress of coming up with these costs that could make or break a purchase.”
Situated within the Olympic regeneration zone of Bow, which has seen significant investment in the past few years, Merchants Walk is in the heart of an exciting new community. Residents can enjoy a range of amenities including bars, restaurants and shops just a short walk from the development. Positioned just moments from the tranquil Limehouse Cut, the development also offers homeowners a peaceful escape from the hustle and bustle of London life.
Located adjacent to Devons Road DLR station, central locations such as Bank and Liverpool Street stations are reachable in 16 and 20 minutes respectively while Canary Wharf is just seven minutes away. Five minutes on the DLR sees residents reach Westfield Stratford City. With nearly two million sq ft of retail space, the mall offers a plethora of shops, eateries and entertainment. Not only this, but the Queen Elizabeth Olympic Park, located next to Westfield Stratford City, offers extensive parklands, waterways and bike trails to explore.
Buyers will have their Stamp Duty paid up to three per cent of the property’s value when making a reservation on 2nd and 3rd September only. This contribution will eliminate the Stamp Duty tax for first time buyers. With over 80 per cent of the development now sold, prices at Merchants Walk start from £495,000 for a two-bedroom apartment, and for a three-bed, prices start at £645,000. Using London Help To Buy, a buyer only requires a 5% deposit of £24,750 to buy a two bedroom apartment. Customers can register their interest by calling 020 3369 8670 or visiting www.merchantswalk.co.uk.