Warehouse conversions have become one of the hottest trends in property, especially in east London. What originally started out as a cheap and spacious place for artists to live in New York City has now become a high value, quality investment, with many warehouses being sold for millions. Here are some of our top warehouse conversions…

The Tapestry Building, EC2M

Ideally located just a stone’s throw from Liverpool Street station is The Tapestry Building. Built in the 18th century by the East India Company, the building has now been converted into 14 stylish homes. This beautiful two bedroom apartment is on the third floor, with a bright and spacious dual aspect living and dining room, and a fabulously modern kitchen.

Find out more here.

Kingsland Road, E8

Quebec Wharf, a former Victorian spice warehouse, has been beautifully converted to provide spacious, chic apartments. This one bedroom property stays true to its roots, with original features such as exposed brick walls and steel pillars.

Find out more here.

King Edward’s Road, E9

One of Hackney’s most sought-after warehouse conversions, Five King Edward’s Road was formerly a 1920s clothing factory and is now home to 89 beautiful apartments with a diverse group of residents. This two bedroom penthouse offers double height ceilings, a beautiful open mezzanine level, and floor to ceiling windows letting in incredible light.

Find out more here.

Northburgh Street, EC1V

Set within a former printworks is this sleek two bedroom apartment, in the heart of the City – just around the corner from Barbican station. Arranged over 967 sq ft, it’s flooded with natural light, high ceilings and dual aspect windows.

Find out more here.

Saint John Street, EC1V

This fantastic one bedroom loft apartment is available to rent in Clerkenwell. Originally a part of the Vogue Pattern building, and then the old Ingersoll factory, the apartment has been designed to retain as many of the original industrial features as possible. The property offers over 1,000 sq ft of space and benefits from a communal roof terrace with panoramic views over London.

Find out more here.

Pentonville Road, N1

Just a short stroll from King’s Cross is this fantastic warehouse conversion on Pentonville Road. This one bedroom apartment enjoys high ceilings and a decked mezzanine level, allowing for flexible living. The property also retains a lot of original period features, such as the large industrial windows allowing for plenty of light.

Find out more here.

Annette Road, N7

Just off the vibrant Holloway Road is this beautifully modern warehouse conversion, with a spacious open-plan kitchen and reception room, two bedrooms, two bathrooms, and a private patio – perfect for entertaining.

Find out more here.

 

What is shared ownership?

Shared ownership is a type of Help to Buy scheme, that allows you to purchase a share in a property. You then pay a subsidised rent to the Housing Association on the remaining share, along with a monthly service charge.

Shared ownership properties are purchased on a leasehold basis and the lease is normally 125 years. This means you will own an equity share in the property – anything from 25% to 75%, dependent on what is being offered by the vendor, and what you’re able to afford.

Financial ability is assessed free of charge by an independent financial advisor (IFA). You’re required to buy up to your maximum affordability, and additional shares in the property can be purchased at any time – this is called staircasing. The price is always taken from the market value, which is determined at the time by a RICS accredited surveyor.

Once you’ve bought your property, you can sell it at any time. The housing association will normally have a 12 week period to find another person to purchase the property under the shared ownership scheme, however if they can’t find a buyer in that time period, the property can then be sold on the open market (again, the value is determined by a RICS accredited surveyor).

So how do I know if I’m eligible?

In order to qualify for shared ownership, you’ll need to…

  • Earn less than £90,000 a year if you’re looking to buy in London, and £80,000 outside of London. Every property will have a minimum income level too, determined by its value, rent and service charge costs
  • Have access to a minimum deposit of 5% of the share being purchased
  • Be employed on a permanent contract and have passed any probation or be able to provide three years audited accounts if self-employed
  • Have British, EU or EEA Citizenship or have indefinite leave to remain
  • £5,000 towards legal fees, mortgage arrangement fees and stamp duty

Each development will have an eligibility criteria of its own and this can be based on the area in which applicants currently live or work and the type of accommodation currently occupied.

What now?

Take a look at our selection of fabulous properties available to purchase through shared ownership here.

To find out more about shared ownership, head to Twitter to take part in #SOChatHour where you can join the conversation and ask questions about all things Shared Ownership, every Wednesday at 8pm.

You can also get in touch with our team on 020 7704 5618.