Mayor of Chelmsford, Councillor Tony Sach has officially opened CM1, an East Homes development of one and two bedroom apartments on Rainsford Road in the heart of Chelmsford. CM1, built in partnership with developers Crest Nicholson, is made up of 42 homes, 35 of which were available through East Homes’ award-winning Rent Now, Buy Later scheme which helps first-time buyers to get onto the housing ladder.
CM1 provides its new residents with a beautiful home as well as access to a communal garden. The apartments are within walking distance of Chelmsford’s town centre and West Park, where there is canoeing and angling to tennis and pitch and putt.
35 of the apartments at CM1 were snapped up through East Homes’ innovative Rent Now, Buy Later* scheme, which recently won Best Marketing Award at the Housebuilding Innovation Awards. The scheme helps first time buyers on to the property ladder by giving them the chance to rent their home for up to five years before choosing to buy a share. The rent is 20 per cent lower than market rent, allowing prospective buyers to save up to buy a share in the property while already living in their new home.
The apartments at CM1 also meet the Government’s Code for Sustainable Homes Level 3 meaning they have features that help residents reduce their carbon footprint and save money on their energy bills. These features include energy efficient heating, a solar thermal hot water system and secure bicycle storage.
Mayor of Chelmsford, Councillor Tony Sach, said during his speech: “I wish the new residents at CM1 all the very best as they look forward to enjoying their new homes and living in Chelmsford. East Homes’ Rent Now Buy Later scheme is a great initiative which delivers some much needed accommodation options for first time buyers in the area.
Chelmsford Borough Council’s Cabinet Member for Housing, Councillor Duncan Lumley added: “We are very pleased with the uptake for these new homes. There is clearly a demand for good quality housing like CM1 in Chelmsford. The central location along Rainsford Road ensures that residents will be able to benefit from all of the shopping and leisure facilities and excellent transport links within the town centre. My thanks go to East Homes and Crest Nicholson for all their hard work in partnership with the Council.”
Jonathan Murdoch. one of the new residents at CM1, said: “CM1 is brilliant. I’ve been living in my two bed apartment for two weeks now so I’m starting to get settled in. My apartment is spacious and really well designed. I’m looking forward to the summer when I’ll be able to use my balcony and get out into the communal garden.”
Geoff Pearce, director of development and asset management at East Thames, said: “CM1 is East Thames’ first affordable housing development in central Chelmsford and marks a key achievement for not only East Thames, but the HCA and Chelmsford Borough Council, especially in the context of the economic environment it is being delivered in. The combination of high quality design and location makes these homes a really attractive option for first time buyers in the area.”