A provider of shared ownership apartments which has delivered 195 homes in Ealing and Greenford over the past four years has held a closing out ceremony to mark the developments as now complete.
So Resi, part of housing association Metropolitan Thames Valley (MTVH), held its event last week (6 March 2023) where it revealed that its development of the former British Homes Stores building in West Ealing was now complete.
According to the company, the developments have proven popular with “priced-out local renters and young families looking to get onto the property ladder in London.”
The closing out event for SO Resi Ealing was attended by senior representatives from SO Resi, including Parveen Sandhu, head of sales, and her team.
Esaiyas Mollallegn, head of marketing at SO Resi said:“From the planning of this former British Home Stores site through to completion, SO Resi Ealing has proven to be an immensely successful development which we were proud to send off in style, and it was fantastic to celebrate the delivery of much needed affordable housing to the borough. SO Resi Greenford has been an equally extraordinary project, contributing to our sole aim of making it possible for people to get on to the housing ladder, and as the cost of homeownership in London remains a hurdle for many, we are proud to have brought homeownership back into reach in Ealing borough.”
Mr Mollallegn added: “Buying with shared ownership means that our homeowners have lower outgoings each month, yet are contributing towards a mortgage and can now staircase to full ownership.”
Silvio Fialho de Aliferis, flight attendant and recent homeowner at SO Resi Ealing commented on why he choose shared ownership: “I had always wanted to move to the capital but in the last few years I was getting fed up living out of suitcases and I realised that it was costing me more than £800 a month by the time you added up hotel stays when I was waiting between flights.”
He added: “I was also paying around £8,000 a year storing my furniture and it made no sense to spend all that money without seeing any return on it. With property prices sky high, I knew that shared ownership was likely to be the best option for me. I really believe West Ealing is going to be the next Ealing Broadway, there is so much opening here and I have everything on my doorstep.”