College homes attract graduates

By Charlie Jacoby, June 25, 2009
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The Academy, Kilburn: apartments by Crest Nicholson, from £174,965 with HomeBuy Direct loan

The Academy, Kilburn: apartments by Crest Nicholson, from £174,965 with HomeBuy Direct loan

Developer Crest Nicholson has unveiled the final phase of its Kilburn scheme, The Academy, a refurbished Edwardian college with two apartment buildings. In the final phase, the West Wing will offer one- and two-bedroom apartments over five floors. Selected apartments will have access to large terraces with views as far as Queen’s Park.

Greg Ketteridge, Crest Nicholson South managing director, says: “The original refurbished part of the development has so much character and has appealed to both young professionals and graduates starting their careers in London. Demand is rising in the area and this, coupled with the high specification of our homes, explains the popularity of the development so far. We expect the final phase to be just as sought-after. To the left of the original building, this new and final phase will appeal to those with a desire for modern and vibrant styling.”

Incentives at The Academy include HomeBuy Direct, a scheme enabling first-time buyers to secure a home at 70 per cent of asking price upfront. The remaining 30 per cent is funded by an interest-free equity loan, financed by Crest Nicholson and the Government. The loan is not repaid for five years or until the property is sold, whichever is sooner. After 12 months, purchasers may buy some, or all, of the property’s remaining equity at market value.

One-bedroom apartments at The Academy start from £174,965 with HomeBuy Direct.

    Last updated: 1:16pm, June 25 2009