15 Dec

Westminster in new cut-price flats offer

Westminster in new cut-price flats offer

First-time buyers will be offered the chance to get on the property ladder in the West End of London for as little as £85,000, it has been announced.

Westminster council has revealed that it is making 25 per cent stakes available in 80 one-bedroom flats at the Grosvenor Waterside development, near Victoria Station.

The authority said it is also looking to add a further 181 flats to the scheme, while over the next four years another 170 affordable homes will be constructed on brownfield land in the borough.

Cabinet member for housing on the council Philippa Rowe commented: "This is an excellent opportunity for first-time buyers who are struggling to get a foot on the housing ladder."

The scheme is taking place in a borough where the average property price is £586,914 according to the latest Land Registry figures.

London's overall average is £320,774.

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