Platform Home Ownership has announced the conclusion of a successful phase at its Shared Ownership development in Brierley Hill, in collaboration with Lovell Partnerships.

The final homes were handed over to the newest residents recently at the Cookley Works development, helping to meet the increasing demand for affordable housing in the area, all of which were secured through Shared Ownership or Rent to Buy.

The development, just off Leys Road, comprises an array of two-, three- and four-bedroom homes and has become a key component of the regeneration of Brierley Hill following extensive investment from Dudley Metropolitan Borough Council.

Built with the modern homebuyer in mind, with contemporary fittings, areas for remote working and high energy efficiency, these versatile homes provide a fantastic blend between the peaceful canal-side settings and the extensive amenities that a bustling town provides.

Shared Ownership allows homeseekers to purchase a share of their home and pay rent on the remaining amount, typically buying between 10% and 75% of the property's full market value, depending on the model purchased with.

This lowers the amount needed for a deposit, with most deposits on Shared Ownership schemes between 5% and 10% of the share and not the full amount.

Platform has seen an increase in popularity in the Shared Ownership scheme. In fact, the start of 2024 has seen a 152% sale increase when comparing to last year, owing to the increase in popularity of the scheme in a time of economic uncertainty.

Through the process of staircasing, those using Shared Ownership can gradually increase the amount of their home that they own.

Simon Wingate, regional partnerships director at Lovell, said: “Cookley Works is a strong example of what can be achieved through strategic partnerships.

“We are committed to delivering high-quality, affordable housing in areas people want to live, and the successful sale of the shared-ownership homes on the development is proof that this is an effective approach to solving the housing crisis.

“We're looking forward to seeing this fantastic community develop and everyone settle into their new homes.”

Ryan Harris, Area Sales Manager for Platform, said: “Brierley Hill is a thriving area following plenty of investment and we're delighted to be contributing towards the need for affordable housing here.

“Cookley Works is in a great location, and can become a popular hotspot for commuters and families to build their dream living space.

“Our partnership with Lovell means we know that those lucky enough to secure a home here can rest assured that they're settling in a high-quality home in the ideal spot to enjoy the amenities that a growing town provides.”

Cookley Works is within a two-mile drive from the renowned shopping centre Merry Hill, home to over 200 stores with 10,000 parking spaces. Merry Hill offers the modern consumer with a plethora of independent and chain stores, leisure activities and restaurant among other attractions, while the development has two primary schools, a high school and a college all within a mile and a half's distance.

Despite being in the heart of the Black Country, Brierley Hill is a short drive away from the green space of the Staffordshire countryside, with many charming village pubs, rural walks and outdoor family activities available to the west of the town.

More information on next phase of homes at Cookley Works will be announced later this year.

For further details on Cookley Works, please visit https://www.platformhomeownership.com/development/cookley-works-brierley-hill or call the team on 0333 200 7304.

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For press information, contact Ethan Henson on 0116 502 4047 / ethanh@unsworthsugden.co.uk and Hannah Elwell on 0116 247 1777 / hannah@unsworthsugden.co.uk