Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Preston Road, 1-3 bed homes


Preston Road, Brighton and Hove, Brighton and Hove City, BN1 6SE

Shared ownership

Starting prices

35% share from
£102,550
Full price
£293,000
Monthly rent
£436
Monthly service charge
£145

Overview

Extremely rare for a Shared Ownership scheme, the development will be a mixture of new build and refurbishment, with the impressive refurbished Victorian villas housing 14 apartments and six new 3 bedroom family houses being constructed in the back gardens of the existing villas.

Two existing Victorian villas will be completely refurbished to their former glory, a new apartment block built, and new family houses designed to complement the existing villas.

 

Designed by leading architects Yelo, Preston Road offers the highest quality of design and build for first time buyers. Set within the Preston Park conservation area, Southern Home Ownership have ensured a sensitive restoration of the villas, retaining many of the original period features.

Large sash windows, the majestic staircase and ornate balustrades have been carefully treated by an expert restoration team, while the poorly conceived link block built by the council in the 1950s has been removed and replaced with a contemporary brick building, designed to complement the Victorian architecture of the original villas.

 

Carefully considering the locality, building materials for the new homes were meticulously selected to reflect the defining characteristics of Victorian architecture, including subtle vertical and horizontal brick banding, bronze coloured metalwork to balcony balustrades, handrails and perforated screens, and grey zinc roofs to match the existing slate roof of the original villas. 

Ensuring the new homes save energy and money for first time buyers, as well as reduce carbon dioxide emissions, Southern Home Ownership have installed rooftop photovoltaic systems which will feed into the communal electricity supply and reduce the requirements for energy from the grid. The existing villas are also being upgraded with double glazing and insulation, improving their energy performance to meet the BREEAM ‘Very Good’ standard.

 

A key aspect of the landscape and architectural designs of Preston Road is the presence of a number of mature trees throughout the site, which are covered by a Tree Preservation Order.

Showing sensitivity to the existing neighbourhood and surrounding area, we are ensuring the protection of the majority of the trees, as well as planting new shrubs, flowers and trees to complement the landscape design. 

A nod to the site’s history as a children’s home, an existing wall at the rear of the site bearing drawings from children who once lived in the institution has been partly retained and transformed into a unique landscaping feature.

 

Located at Preston Road, Brighton – 2 miles from Brighton beachside and less than a mile from the impressive structure of Brighton Viaduct. These properties for sale in Brighton are ideal for those wanting a home with some history.


Local area information

Preston Road sits in a perfect spot, with the beach only 2 miles away. This is the perfect place to enjoy a sunny Sunday afternoon, or watch the sun go down after a hard day at work.

The Preston Road site currently consists of two Victorian villas dating from around 1870, which were built as part of the Clermont Estate. The two villas were connected in the 1950s through a link block to form one building, all situated within a large garden with an array of mature trees.

These homes will be celebrating their history and decorative features, and wherever possible they will retain many of the existing room proportions and original features. 

This is a part of Brighton full of open spaces and the jewel in the crown is Preston Park, the biggest green area in the city and only 500m down the road from 251 Preston Road. The parklands are perfect for a summer’s stroll while sports lovers will appreciate the football pitches, tennis courts, cricket ground, basketball facilities and velodrome. There’s a celebrated rockery, filled with a diverse collection of flora and fauna, together with walled and rose gardens. For youngsters there is a choice of two playgrounds, as well as two cafés for the grown-ups to relax.

Brighton is a place beside the seaside that’s within an easy commute of London. From your front door in Preston Road it’s a three-minute walk to Preston Park station with regular services to London Victoria and Gatwick Airport. The main London road is even closer.

Living at Preston Road you will have local shops, schools and open parkland, together with a whole range of sports facilities within a few minutes’ walk. The town centre is not much further. There is a bus stop directly in front of 251 Preston Road with regular services in and out of Brighton along with many local cycle routes to ensure you will always feel well connected.


Plot availability

Plot number 22
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £102,550
Full market price £293,000
Monthly rent £436
Monthly service charge £234
Ownership Leasehold
Plot number 19
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £106,050
Full market price £303,000
Monthly rent £451
Monthly service charge £234
Ownership Leasehold
Plot number 12
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £107,800
Full market price £308,000
Monthly rent £459
Monthly service charge £234
Ownership Leasehold
Plot number 5
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £107,800
Full market price £308,000
Monthly rent £459
Monthly service charge £234
Ownership Leasehold
Plot number 6
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £111,300
Full market price £318,000
Monthly rent £474
Monthly service charge £234
Ownership Leasehold
Plot number 14
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £146,300
Full market price £418,000
Monthly rent £622
Monthly service charge £250
Ownership Leasehold
Plot number 21
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £151,550
Full market price £433,000
Monthly rent £645
Monthly service charge £250
Ownership Leasehold
Plot number 26
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £204,050
Full market price £583,000
Monthly rent £868
Monthly service charge £145
Ownership Leasehold
Plot number 27
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 35%
Minimum share price £204,050
Full market price £583,000
Monthly rent £868
Monthly service charge £145
Ownership Leasehold

FAQ's

Min share price from: £102,550 for a 35% share
Full price from: £293,000
Monthly rent from: £436
Bedrooms: 1
Bathrooms: 1

There are 9 available ranging from £102,550 for a 35% share to £204,050 for a 35% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Southern Homes
Shared ownership

Starting prices

35% share from
£102,550
Full price
£293,000
Monthly rent
£436
Monthly service charge
£145