Best shared ownership development – rural/suburban

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With Iverhurst Close, 4,300-home association Hexagon has transformed a suburban site in Bexleyheath, south-east London, into a shared ownership development that’s not just highly desirable, but affordable and sustainable, too. 

 

This scheme is Hexagon’s first zero-carbon development. It features a fabric-first approach to maximise energy efficiency, alongside heat pumps, solar panels, heat recovery systems and EV-charging points.

 

Equally importantly, Hexagon has helped close the gap in London between the demand and supply of shared ownership homes. It acquired the site with planning permission for 11 three-bedroom properties, but realising this would not meet the demands of its target market – who were looking for larger homes to accommodate growing families and hybrid working – Hexagon reconfigured the layout to accommodate 10 four-bedroom houses and one three-bedroom home instead. 

 

Hexagon has ensured these homes are as affordable as possible, with each property offered at a minimum 25% share, and rent levels set at 2.7% to ensure affordability for buyers on lower incomes. Within four months of the scheme’s launch, all of the homes were under offer. 

 

The judges said:

“Very high-quality architecture. Fills the gap for shared ownership family homes and offers affordable homes in an area lacking in this tenure. The scheme’s high quality resulted in a very good response in sales”