Manor Property has unveiled proposals for an exciting new development to provide affordable housing in East Yorkshire.
Plans show fourteen homes to be built on current wasteland of 'The Paddock', Woodgates Lane, on the northern outskirts of the desirable village of North Ferriby.
The scheme is aimed at locals in and around the area to provide housing at a discounted price, allowing homes to be more affordable in an attractive rural location, where young people and families have been excluded due to escalating property values.
Arranged on the ground floor and two upper floors, these quality homes offer 3 bedroomed accommodation with 2 bathrooms.
Designed in a style in keeping with its surroundings, 'West Park' will blend in well with this long established exclusive residential area.
Basis of ownership
Each dwelling will be sold on a 199 year leasehold arrangement, with purchasers acquiring 70% equity in each home.
In providing a large saving to the buyers of West Park, Manor Property will retain the remaining 30% equity.
At any time after 20 years, the purchaser would have the option to buy the remaining 30% at the then market value.