Newspaper article The Evening Standard (London, England)

A Flat in Putney for Just PS87,500; A Prized Riverside Enclave Is Bringing Shared Ownership within Budget for Young Londoners by Ruth Bloomfield

Newspaper article The Evening Standard (London, England)

A Flat in Putney for Just PS87,500; A Prized Riverside Enclave Is Bringing Shared Ownership within Budget for Young Londoners by Ruth Bloomfield

Article excerpt

Byline: Ruth Bloomfield

SMART, leafy and perched beside the Thames, Putney is one of those areas which has been so engulfed by a middleclass tide of Farrow & Ball that it is hard to remember a time when average first-time buyers could afford to live there.

Putney Village remains one of the most expensive of south-west London's suburbs, but East Putney -- a slight no man's land between Putney and Wandsworth -- is a better value-formoney option, particularly now with a new launch of homes by Octavia Housing (octaviahousing.org.uk) which has 34 shared-ownership starter flats at Walpole Lodge aimed at first-time buyers, with prices from PS87,500.

well connected Walpole Lodge is right beside East Putney station, in Zone 2 on the District line. Or take a bus to Clapham Junction two miles away, for fast trains to Vauxhall and Victoria.

The homes are within a private development at Putney Plaza, three blocks containing 150 homes and replacing two post-war office buildings. The scheme, with large communal roof terraces overlooking south-west London, has new cafes, restaurants and shops. The homes will be ready at the end of the year, although the whole development is not expected to complete until 2017. Prices start at PS87,500 for a 25 per cent share of a one-bedroom flat.

A quarter share of a two-bedroom flat will cost from PS113,750, while a 25 per cent slice of the largest, three-bedroom flats costs PS131,250. It is also possible to buy a parking space for an extra PS25,000. Priority will be given to buyers who already live and work in Wandsworth.

riverside pubs Sue Dance, head of sales and marketing at Octavia, says: "You are so close to the water that you will be able to stroll out in the evening and go to one of the lovely riverside pubs."

Walpole Lodge is perfect for a short walk into Putney for a coffee, to catch a movie, or just to mooch around the shops.

Or head over to Wandsworth Town, which has more of an independent flavour. Richmond Park, Clapham Common, Clapham and Battersea are all on the doorstep.

The downside is noise. Some of the properties overlook railway lines, and the development is just off busy Upper Richmond Road. …

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