Olympia House was once home to the passport office in the centre of Newport, and has been transformed into a modern apartment complex, providing much needed city centre living for aspiring homeowners.
The apartments are some of the first purpose built modern apartments to be completed within the city centre for some time. Stylish bathrooms, fitted wardrobes and huge panoramic windows make these apartments perfectly suited to modern city life, and a welcome opportunity for first time buyers wanting to get onto the property ladder.
Newport City Homes was awarded £1m of Welsh Government funding for the Olympia House regeneration, as part of the Shared Ownership Wales and Rent-to-Own Wales schemes.
The first six apartments are available to buy through the Shared Ownership Wales scheme, where 50% of the property can be purchased initially, with the opportunity to increase your share in the property at any time. There are one and two bedroom apartments available, ranging from £57,250 to £69,750 (based on a 50% purchase via Shared Ownership Wales).
There will be other ownership options on offer, such as Rent-to-Own Wales which will allow prospective homeowners to accumulate part of their rent each month to put towards a deposit on the property, a solution for those who have previously been unable to save for a home whilst renting.
Those who want to rent can, as there will be several apartments available.
The apartment complex sees Newport City Homes working in partnership with Peter Alan to offer the first of several home ownership options to meet the growing demand for housing in the city from first time buyers.
The first phase of apartments have already gathered a lot of interest, and more will be available over the coming months.
Interested parties can and find out more by emailing nch@peteralan.co.uk. All applicants must have an active Home Options Newport account at the time of application. If you are not currently registered you can do so on the website www.homeoptionsnewport.co.uk If you do have an account already, please make sure all your details are up to date, including your employment details, before submitting your application.
Home Options Newport is a dedicated centralised portal for all affordable housing options in the Newport area, including home ownership options. An active account is a requirement for all interested parties as part of the Welsh Government affordable housing funding.
Land & New Homes Manager at Peter Alan, Michael Edwards said: “We are hugely excited that Newport City Homes are offering an affordable proposition to buyers in Newport. We look forward to welcoming those who would like more information on how they can acquire a property at Olympia House.”
Head of Development at Newport City Homes, Nigel Webb said: “We are so pleased and excited that we are able to offer the opportunity for the residents of Newport to start their home ownership with us through these exciting and imaginative purchase options.”