KING'S WHARF (Metropolitan Home Ownership)

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DEVELOPER
Metropolitan Home Ownership (subsidiary of Metropolitan Housing Association) - and Lemon Land

LOCATION
Kingsland Road, Hackney, London E8, next to Grand Union Canal

STAGE
Fully sold May 2002

SCALE
5 live/work units within total of 55 live/work units (remainder privately developed). 3 @ 51 sq metres, 2@ 84 sq metres

TENURE
Shared ownership, minimum equity 25%, maximum 75%, averaging around 35%, depending o­n individual financial circumstances. Opportunity to buy further shares, up to 100% ownership, if and when circumstances permit

FUNDING
£10,000 per unit subsidy from MHO recycled capital grant fund. Section 106 planning gain for site and private sector finance for remainder

PARTNERS
Developer Lemon Land, Hackney Council

TARGET MARKET
Small businesses with a record of living and running a small business in Hackney for minimum of
one year previously

DEFINING FEATURES
Separate organisation vetted prospective tenants for business experience, in future MHO will do this in-house. Residential elements subject to normal council tax, commercial parts attract uniform business rate

'We think our live/work schemes meet our strategy of reducing the environmental input of our new housing and mixed-use schemes - after all, the travel to work distances can be measured in metres' says Graeme Moran, director of home ownership

CONTACT
Graeme Moran, Metropolitan Home Ownership




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