New city centre apartments will give aspiring homeowners a chance to get on the property ladderThe former passport office at Olympia House in Newport city centre has been transformed into a 62-apartment complex. The new complex will include options for low-cost home ownership through Rent-to-Own Wales and Shared Ownership Wales and there will be also rental apartments available. The apartments are designed with open plan kitchen and living areas and panoramic views of the city and the river
Once home to the passport office in the centre of Newport, Olympia House has been transformed to provide a modern city centre apartment complex for buyers and renters alike.
The apartments provide spacious one- and two-bedroom accommodation with state-of-the-art open plan living.
Olympia House is one of the first purpose built modern apartment complexes to be completed within the city centre for some time. Stylish bathrooms, fitted wardrobes and huge panoramic windows make these apartments perfectly suited to modern city life, and a welcome opportunity for first time buyers wanting to get onto the property ladder.
There are several ownership options on offer, as the Olympia House regeneration was awarded £1m of Welsh Government funding as part for the Rent-to-Own Wales and Shared Ownership Wales schemes.
Rent-to-Own Wales will allow prospective homeowners to accumulate part of their rent each month to put towards a deposit on the property, a solution for those who have previously been unable to save for a home whilst renting.
Shared Ownership is another option at Olympia House, where 50% of the property can be purchased initially, with the opportunity to increase your share in the property at any time.
Those who want to rent can, as there will be several apartments available.
The apartment complex sees Newport City Homes working in partnership with Peter Alan to offer the first of several home ownership options to meet the growing demand for housing in the city from first time buyers.
The apartments will go on the market with Peter Alan in spring 2021, and interested parties can express an interest and find out more by emailing email@example.com
Land & New Homes Manager at Peter Alan, Michael Edwards said: “We are hugely excited that Newport City Homes are offering an affordable proposition to buyers in Newport. Rent to Own is an innovative way for people to start their climb on the property ladder and the Shared Ownership option will also help those who wish to own their own home. We look forward to welcoming those who would like more information on how they can acquire a property at Olympia House and live in the centre of this aspiring city.”
Head of Development at Newport City Homes, Nigel Webb said: “We are so pleased and excited that we are able to offer the opportunity for the residents of Newport to start their home ownership with us through these exciting and imaginative purchase options.”