First phase of Brierley Hill shared ownership homes scheme closes with more to come next year
Platform Home Ownership has announced the conclusion of a successful phase at its shared ownership development in Brierley Hill.
Cookley Works has been developed in collaboration with Lovell Partnerships.
The final homes have now been handed over to the newest residents, helping to meet the increasing demand for affordable housing in the area.
All were secured through shared ownership or rent to buy.
The development, just off Leys Road, is of two, three and four-bedroom homes.
It is a key component of the regeneration of Brierley Hill following extensive investment from Dudley Council.
Shared ownership allows homeseekers to purchase a share of their home and pay rent on the remaining amount, typically buying between 10 and 75 per cent of the property’s full market value, depending on the model purchased with.
Platform has seen an increase in popularity in the shared ownership scheme. The start of 2024 has seen a 152 per cent sale increase when comparing to last year, owing to the increase in popularity of the scheme in a time of economic uncertainty.
Simon Wingate, regional partnerships director at Lovell, said: “Cookley Works is a strong example of what can be achieved through strategic partnerships.
“We are committed to delivering high-quality, affordable housing in areas people want to live, and the successful sale of the shared-ownership homes on the development is proof that this is an effective approach to solving the housing crisis.
“We’re looking forward to seeing this fantastic community develop and everyone settle into their new homes.”
Ryan Harris, area sales manager for Platform, said: “Brierley Hill is a thriving area following plenty of investment and we’re delighted to be contributing towards the need for affordable housing here.
“Cookley Works is in a great location, and can become a popular hotspot for commuters and families to build their dream living space.
“Our partnership with Lovell means we know that those lucky enough to secure a home here can rest assured that they’re settling in a high-quality home in the ideal spot to enjoy the amenities that a growing town provides.”
More information on next phase of homes at Cookley Works will be announced later this year.
