Help to Buy scheme offered at Sheffield's Park Hill flats redevelopment

The sales team at Park Hill are offering Help to Buy, a government scheme, on a limited number of homes in Phase 2 of the development. The scheme is an equity loan for up to 20% of the cost of a property up to the value of £228,000.

It requires a 5% cash deposit and a 75% mortgage for the remaining amount. No fees are charged on the 20% loan for the first five years.

Phase 2 of Park Hill will provide 195 more homes including 1, 2 and 3 bed homes and 2 bedroom town houses. It also includes 20,000 sq ft of mixed-use commercial space with an opportunity for workspaces, retail and leisure spaces. Help to Buy will apply to the 1 and 2 bed homes.

The development of Park Hill is a joint venture between Urban Splash and Places for People.

Guy Ackernley, on behalf of the venture, said: “Sales of Phase 2 at Park Hill have been going remarkably well despite the pandemic, as our customers are attracted to the huge communal gardens, spectacular views and large windows.

“As we move out of lockdown and are taking steps towards some form of normality it is great to be able to offer Help to Buy and give the opportunity for a wider group of people on a range of incomes to live at Park Hill.

"The existing 800 plus strong community at Park Hill is vibrant and diverse, and we can’t wait to welcome more residents and businesses in the coming year.”

Other amenities at Park Hill include the vegan/veggie café South Street Kitchen, seating areas and play pieces on the sculpture plinths in the landscaped areas. There is also the S1Artspace on site which provides a rolling exhibition programme.

A convenience store Park Hill Provisions is due to open in the coming months and more retail and leisure operators are expected this year.

Phase 1 of Park Hill is complete with 260 homes all occupied and businesses in the 10,000 sq ft of commercial space. There is also the purpose built relocated Grace Owen Nursery.

In September last year, development partner Alumno, an award-winning specialists in design and development of modern accommodation for students, completed Phase 3 of Park Hill. Called Béton House, it provides 4 and 8 bedroom townhouses, 2 and 4 bedroom apartments as well as classic studios for 356 students.

The regeneration of Park Hill has won many property and community awards and was shortlisted for the RIBA Stirling Prize in 2013.Park Hill Help to Buy is coordinated through Homes England. For more information on Help to Buy contact the sales team at Park Hill on 0114 303 0375 or email [email protected] / [email protected]

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