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 , 1-2 bed homes


Brighton, Brighton and Hove City, BN1 6SE

Shared ownership

Starting prices

35% share from
£105,000
Full price
£300,000
Monthly service charge
£209

Overview

Click on one of the links below to view our Virtual Tours:

Cypress Villa apartments

   Plot 1

   Plot 2

Birch Villa apartments

   Plot 5

   Plot 6

   Plot 22

3 bedroom house:

   Plot 28

 

About Preston Road

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 are 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.

Highly Commended Award for ‘Best Small Development’ at the 2020 First time buyers Awards.

 

Eligibility criteria

To be eligible for a Shared Ownership home at Preston Road, you will need to:

  • Have a gross household income of no more than £80,000 per annum.
  • Be unable to purchase a suitable home to meet your housing needs on the open market.
  • Not already own a home or you will have sold your current home before you purchase
  • Be registered with their local Help to Buy agent. To register with your Help to Buy agent, click HERE

 

If you are interested to see more, the next steps are:

 

Book a viewing

Once you’ve checked you meet the above criteria, book a viewing appointment below and set up an account to provide us with your details (If you’ve done this before you won’t need to fill out your details again).

 

Reservations

If you fall in love with one of our homes, you will be able to make a reservation on the day with us, and reserve your home for just £500 (card payments only). 

Once you’ve reserved your home you’ll need to have an online sustainability assessment from one of our panel of Mortgage Advisers within 3 working days to formally secure your new home.

If you are keen to reserve, or just want to make sure you can afford your new home, you can complete your Financial Assessment online now by clicking HERE


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 6
Tenure Shared ownership
Availability Available
Minimum share 35%
Monthly service charge £234
Plot number 5
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £105,000
Full market price £300,000
Monthly service charge £234

FAQ's

Min share price from: £105,000 for a 35% share
Full price from: £300,000
Bedrooms: 1
Bathrooms:

There are 2 available ranging from £105,000 for a 35% share to £105,000 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
£105,000
Full price
£300,000
Monthly service charge
£209