Shared ownership in York
A range of expertly designed eco-friendly homes just a short walk from York’s city centre. Available to buy with shared ownership.
The Cocoa Works
Sophisticated two bedroom apartments with excellent amenities housed in the iconic Rowntree’s Factory on Haxby Road.
Ready to move in. Shared ownership apartments are available from £111,125 (for 35% Full Market Value).
Cocoa Gardens
A collection of two and three bedroom eco-friendly homes set within a flourishing new garden community.
Shared ownership homes are available from £118,650 (for 35% Full Market Value).
What is shared ownership?
Shared ownership offers an alternative and more affordable route to home ownership than outright sale. As a government-backed scheme it allows you to step onto the property ladder with a smaller mortgage deposit.
By purchasing a share of a property you reduce the initial costs of buying a home. You're required to buy the largest share you can afford (starting from 35% for our current York developments), and you'll pay subsidised rent on the remaining portion. Over time, as your circumstances allow, you can increase your share up to 100% for full ownership.
Shared ownership also allows you to see your share at any time, making it a flexible and practical way to invest in your future.
Why rent if you can own in York?
Buying with shared ownership could be the step onto the property ladder you’ve been looking for.
According to home.co.uk, the York asking average rent is £1,796* per calendar month. With shared ownership, your outgoing could be £1,239 a month for a two bedroom apartment at The Cocoa Works.
This example demonstrates a potential outgoings saving of £557 a month, for your first step on the property ladder.
Day-to-day costs may also be lower with new-build homes. They require less maintenance and tend to be more energy-efficient than existing homes. Your energy bills could also be lower due to more energy-efficient design features.
How easy is it to get on the property ladder in York?
We went out on the streets of York to talk to people about getting on the property ladder through shared ownership. In this video we showcase The Cocoa Works, a community of apartments set within the former Rowntree's Chocolate Factory in York. Take a look at the responses we get to the opportunity to buy a brand new apartment for a deposit of just £3,700.