***shared-ownership starter homes***
Get your foot on the property ladder with a brand new shared ownership City Centre apartment. Two bedroom (bed 1 with en-suite), family bathroom, open plan living with modern fitted kitchen, close to amenities, Call us now for further information.
**shared ownership opportunity***register now***
A brand new two bedroom apartment located in the heart of Newport City Centre. With superb views across the city, an apartment in Olympia places you at the heart of the action while also offering you a modern, comfortable retreat away from all the hustle and bustle. If you commute by bus or train, your journey back from work couldn't be easier - you're just a short walk from the bus and train stations.
A landmark building since it was built in the 1960s, Olympia was home to the Passport Office until 2013 and now hosts a food store on its ground floor, as well as a new Café Quarter - so all you need to do is pop downstairs to enjoy a break and a treat.
The upper floors have been re-imagined to offer a selection of one and two bedroom apartments, each with fully-fitted kitchens and stylish, contemporary bathroom suites. Our aim is to make it as easy as possible to settle into your new home, so we've provided high quality kitchen appliances and fitted all the little extras that make a difference, such as heated towel rails, an entryphone system, a satellite TV point and internet cabling. An overview of the development can be viewed at the Olympia House website .
An ideal choice for anyone wanting to enjoy the best that Newport has to offer, Olympia is a unique development in a building that forms part of Newport's history.
How To Register
We are currently registering interest on this development for buyers interested in the shared ownership scheme. All applicants must have an active "Home Options Newport" account at the time of application. If you are not currently registered with Home Options Newport please get in touch or do so at the Home Options Newport website -
Home options Newport is a dedicated centralised portal for all affordable housing options in the Newport area and an active account is a requirement for all interested parties as part of the Welsh Government affordable housing funding in this area.
- Fully fitted kitchen with coloured laminate worktops
- Hotpoint full height fridge/freezer with ice box
- Hotpoint integrated oven, electric hob and chimney hood
- Hotpoint washer dryer
- Stylish laminated wood doors smartly finished with brushed stainless-steel handles
- Low maintenance wood/aluminium double glazed windows throughout
- Karndean wood-effect flooring in kitchen area for durability and style
- Fitted carpet to hallways and bedrooms providing warmth and comfort
- Energy efficient lighting to save money and the environment
- Mains smoke detection for total peace of mind
- Satellite TV point and cabling for internet
- Electric central heating
- Heated towel rails
- Stylish ceiling recessed halogen lighting
- Modern, fitted bathroom suite
- Secure entryphone system
- Lifts to all floors
- Sprinkler system fitted throughout all apartmentsShared Ownership
Shared ownership is our most flexible purchase option; you can choose how much of a property you buy and buy more if you want to as and when it's convenient for you. We can offer a share of between 50-70% of a property and pay a rent on the part that you don't own.
The higher the share you purchase, the less rent you will have to pay. Over time you have the option to increase your share of the amount of the property you own if you can afford to do so. Shared ownership is one option for purchasing your own property and we're committed to helping people to achieve their aspiration to purchase their own home.Terms & Conditions
- The property is sold on a 'leasehold' basis.
- The term of the lease is 125 years from 8/10/19, but we advise you to confirm this with your legal representative.
- The property will be sold on a shared ownership basis where the purchaser will purchase a share between 50% and 70% of the full market value of £147,500. (i.e purchase price of £73,750- £103,250)
- The purchaser will be expected to purchase the maximum share they can afford after a financial assessment)
- Rent on the remaining shares are payable monthly and is calculated at 2.75% pa. E.g. If the remaining share is £73,750 (50%) rent due is (£73,750 x 2.75% = £2028.13 Annually) divided by 12 months is £169.01 per month.
- The annual ground rent is £100 per annum. This is the same cost regardless of the share owned and will be payable to the block management company alongside the annual service charge.
- The annual service charge is £1810.00 per annum, this is split into bi-annual payments and payable to the block management company along with the ground rent every six months.
- To be eligible to purchase you will need a deposit that is 10% of the value you will be purchasing. E.g. If you are purchasing a 50% share at £73,750 you will need a minimum of a £7375 deposit.
- All conveyancing costs are the responsibility of the purchaser, however if you choose to proceed with a Peter Alan appointed solicitor; Newport City Homes will pay £500 towards your legal costs.
- Further shares in the property can be purchased at a later date, this is called staircasing. The minimum increments are to be 10% of the total value of the property.
- The Leaseholder is liable for all maintenance costs regardless of the % they have purchasedDisclaimer
The interior images & 360 tour shown are of one of the show apartments at Olympia House and are for marketing purposes only. Images may not represent the actual apartment advertised but are indicative of the development as a whole. Any sizes stated are approximate. Internal inspection is advised to ascertain the individual apartment.
Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither Peter Alan nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.