Pioneering affordable housing funder QSH has welcomed the first tenants to its £4.2 million flagship rent-to-buy apartment scheme in Newton Mearns.
The development, which offers 48 two-bedroom apartments located off Stewarton Road, has been overwhelmingly popular, with the first phase of properties now let.
The Merlin Way scheme – the first development in Scotland for QSH – will provide tenants with an affordable way to buy a new-build home through its innovative Rent-to-Buy scheme.
QSH, specialists building affordable homes with little or no government subsidy, is bringing the properties forward in partnership with East Renfrewshire Council, landowner Greenlaw Park Limited, managing agent Pinnacle Places, and national developer, Wates Living Space Homes.
Nicola Clayton, business development director at QSH, said: “It’s truly rewarding to welcome the first tenants into their new homes on Merlin Way, and marks the culmination of the many months of work between our various partners to bring the development to fruition. We are pleased to hand the properties over to our partners, Pinnacle Places, who are letting and managing the homes.”
Pinnacle Places Head of Private Rented Sector Kelly Smith said: “Pinnacle is delighted to be working with QSH on such a pioneering scheme, which not only provides affordable new homes to Newton Mearns residents, but offers a real opportunity to get onto the housing ladder.
“We have had 18 new residents take occupation during August with the remaining moving-in during September. Demand for the new properties has been phenomenal and all our residents have been delighted with their new homes!”
John Manning, Regional Business Manager, Wates Living Space Homes, commented: “Newton Mearns has been a development to which we have applied our expertise in creating high quality and attractive new homes. Welcoming the first tenants is always a proud and rewarding moment for our teams, to bring to fruition our hard work, team ethos and commitment and see the ambitions of our projects realised.”
The Merlin Way and Eagle Avenue apartments have been built to QSH’s high-quality standards, and present spacious open-plan living areas with contemporary fitted kitchens and modern bathrooms featuring white sanitary ware and chrome accessories. All of the properties offer at least one double bedroom and come with parking to the front of the property.
Gillian Todd, a new resident to Newton Mearns, moved into Merlin Way in August: “Newton Mearns is a lively place to live, yet so quiet. The flats are beautiful and a good size – I was surprised with the amount of storage in each flat too. Everyone at Pinnacle Places was very helpful and informative throughout the whole process. They kept in constant contact and kept me so I was completely up-to-date from start to finish.”
“Pinnacle Places went that extra mile for me as my baby was due not long after my move-in date. The staff arranged for workmen to access my flat in advance so that I could get organised and arrange for everything, such as the flooring, to be fitted on my move-in date. This helped a lot at a very stressful time.
“I think this is a great opportunity for people of all ages. I know this is Pinnacle’s first Glasgow-based project, however feel there should be more opportunities like this across Glasgow. You never know, since this has been such a great success there may be more opportunities for others in the future.”
QSH’s Rent-to-Buy scheme is a ground-breaking combination of private investment and government enterprise incentives to support affordable housing construction projects, enabling aspiring homeowners to pay affordable rents whilst building up their crucial first deposit.
Under the scheme, tenants will pay affordable rents and have the ability to purchase the property between the first and fifth year after they move in. Half of the tenant’s rental payments will be put towards the deposit they need to secure a mortgage to buy their home (up to a maximum of 10%), whilst those who choose not to purchase during this time can continue renting their homes for a further 15 years.
If you would like to find out more about the remaining apartments at Newton Mearns, please contact Pinnacle Places on 020 7427 5163 or email [email protected]