With news of the long-awaited Bakerloo Line extension a hot topic in late 2024, locations along the new arm of the line are set to be in the limelight this year. One such stop is Old Kent Road in Peckham which will meet demand for new homes on the proposed line, with SO Resi (part of Metropolitan Thames Valley Housing) offering a collection of 113 homes available with the London Living Rent and Shared Ownership schemes.

113 brand new apartments at SO Resi Peckham, located on Old Kent Road, are now available to reserve off-plan, with completion expected in autumn/winter 2025. Homes of both tenures will offer bright, airy and sociable open plan living spaces equipped with Zanussi appliances, all coming with balconies or terraces as standard. SO Resi Peckham will be a car-free development offering cycle storage in a secure, purpose-built store for residents’ peace of mind and with an Aldi store on the ground floor.

81 apartments will be made available to purchase through Shared Ownership, which enables buyers to purchase a share a property, paying a mortgage on the part that is owned by them, and a monthly rental payment on the share they do not own. Example prices will start at £425,000 for a one-bedroom apartment (full market value) with deposits starting from just five per cent of the share. As an example, for a 25% share in a one-bedroom apartment, prices can start from £106,250.

Prospective renters looking for a more permanent home can also move to SO Resi Peckham using London Living Rent (LLR), where 32 apartments are available through this scheme. LLR offers rents at a discount of approximately one third of the local median household income on a three-year contract. Tenants will be encouraged to use the savings from the discounted rent to save up for a deposit, to purchase the property using Shared Ownership at the end of the rental term with the view that all homes will be sold in ten years.

Kevin Sims, Director of SO Resi, comments: “Peckham has long been a hotspot in Southeast London with high demand from buyers for many years – and with good reason! With this demand must come the supply of new homes and affordable housing schemes such as SO Resi Peckham, which will help to achieve the high level of popularity within the district.

“SO Resi Peckham is set to be a hugely popular development offering two different schemes to appeal to a range of buyers. Whether that’s people looking for affordable rental contracts that lead to homeownership, first time buyers or local families looking for more space. We will be working alongside our residents who choose to live at SO Resi Peckham through London Living Rent to help them achieve home ownership at the end of their contract. SO Resi Peckham is here to meet the genuine needs of Londoners, helping as much as possible with the housing crisis in the capital and obstacles to home ownership in 2025.”

Peckham is renowned for its bustling high streets offering independent shops, coffee house and Rye Lane Market. Within a stones’ throw from the development is a range of green open space such as Brimmington Park, with its outdoor gym, walking trails and playpark as well as Burgess Park, which offers a BMX track, sports centre, tennis courts and playparks plus a fishing lake. In terms of transport, SO Resi Peckham is located between Queens Road Peckham and New Cross Gate overground stations serving the Windrush line, and bus routes from Queens Road Peckham Station with regular services to Elephant & Castle and Battersea Park.

Currently available at SO Resi Peckham is a collection of one, two and three-bedroom apartments, available from £425,000 (full market value) on the Shared Ownership scheme. Priority will be given to applicants who live or work in the London Borough of Southwark. To find out more, visit www.sharedownership.co.uk.