The average deposit a first time buyer in the UK will need to buy their first home currently stands at a whopping £54,116[1] according to new research by Halifax, making the dream of home ownership seem out of reach for many aspiring homeowners. However, offering an alternative route onto the property ladder, Shared Ownership enables buyers the chance to purchase a share of a property, with a much smaller deposit. At Sovereign's Perrybrook development in Brockworth, Gloucester, buyers only need a 5% deposit of just £4,000* to kickstart their home ownership journey.

Ideal for first time buyers and families alike, Perrybrook comprises a collection of  2 bedroom apartments, and 3 and 4 bedroom houses ready to move into from early 2024. Situated in the historical Roman village of Brockworth on the edge of the Cotswolds AONB, residents at Perrybrook will reap the rewards of a traditional rural lifestyle and still have access to first class entertainment, leisure and retail facilities in the attractive city of Gloucester, just five miles down the road. Although situated in a quaint English village, city commuters are well catered for with nearby Cheltenham Spa station offering direct links to commuting hotspots such as London Paddington, Bristol and Cardiff.

Gemma Lear, Sales Consultant at Sovereign Network Group, comments: “We understand how hard it is for first time buyers to get onto the property ladder at the moment, and Shared Ownership offers a light at the end of the tunnel for many. Perrybrook is one of our top developments for first time buyers as, not only is it situated in a scenic, well-connected location, but deposits start from as little as £4,000, making it much more affordable for buyers in the current climate. Also - unlike many Shared Ownership developments - Perrybrook customers don't need to have a connection to the local area to buy a home here, so we are open to interested purchasers keen to purchase in this desirable area of Gloucestershire from anywhere in the country.”

From the apartments to the houses, each property at Perrybrook has been designed with the buyer in mind. A typical two-bedroom apartment enjoys an open-plan kitchen/living/dining room with dual aspect windows to flood the space with natural light throughout the seasons. Kitchens are contemporary in design, whilst each apartment enjoys excellent built-in storage. Both double bedrooms are of ample size, whilst modern bathrooms showcase contemporary white suites.

Externally, all properties come with allocated parking and visitor spaces, and residents also have access to secure cycle storage.

The quintessential village of Brockworth is small, but perfectly-equipped with a convenience store, Co-Op and local pub, the Victoria Inn, for resident's day-to-day needs. Just five miles down the road, Gloucester is a buzzing small city with endless retail therapy options at Gloucester Quays shopping outlet, King's Walk Shopping Centre and Eastgate Shopping Centre, all home to a selection of well-known high street stores. The city's entertainment facilities are also second to none, with three cinemas, a Ninja Warrior UK course, and a selection of museums brimming with the city's history.

Residents at Perrybrook will be surrounded by plenty to do at the weekends, whatever the weather. Thrill seekers will be at home at the nearby 270 Climbing Park - one of Europe's tallest high rope courses – or they can test their mountain bike skills at the 417 FlyUp Bike Park, both under a 10-minute drive from home. And for something a bit different, each Spring the famous annual cheese rolling race takes place on Cooper's Hill, just an eight-minute drive from Perrybrook.

Perrybrook residents will have access to excellent transport links. By road, the A417 and M5 motorway are both easily accessible from the development, allowing residents easy access to Cheltenham, Bath, Bristol and the wider motorway network.  By rail, nearby Cheltenham Spa station offers direct links to London Paddington in under 2 hours, Bristol in 39 minutes and Cardiff in 1 hour 11 minutes.

Prices at Perrybrook start at £80,000 for a 40% share of a two-bedroom apartment. For more information, please visit www.sovereignliving.org.uk.

ENDS

For further press information, please contact the SNG team at Oracle PR: sovereign@oraclepr.co.uk / 0208 394 2821

About SNG

SNG (Sovereign Network Group) is one of the largest housing associations, providing over 82,000 homes in areas facing some of the most acute housing need across London and the South of England, with an ambition to build an additional 2,500 homes a year by 2026. It was formed on 1 October 2023 through the bringing together of Sovereign Housing Association and Network Homes.

SNG is a leading builder of affordable homes, including for social rent, and it has a clear pathway to maximise its social and environmental sustainability through its ambitious Homes and Place Standard alongside its planned £100m Community Foundation.

SNG is a member of the G15 group of London's largest housing associations. The G15 is the collective voice of some of the leading organisations in the housing sector. Its members house one in ten Londoners and are the largest providers of affordable homes in the capital, building a quarter of all London's new homes, and owning or managing more than 600,000 homes.

[1] https://www.lloydsbankinggroup.com/media/press-releases/2023/halifax-2023/number-of-first-time-buyers-falls.html

*Based on a 40% share of a property priced at £80,000