KING'S WHARF (Metropolitan Home Ownership)

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

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

Fully sold May 2002

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

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

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

Developer Lemon Land, Hackney Council

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

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

Graeme Moran, Metropolitan Home Ownership

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