Article

#ProjectEdenside – Allocating apartments


Profile: Oaklea, 22nd Jul, 2019

Oaklea Trust has ambitious plans to transform the former Edenside Care home in Appleby, Cumbria. If all goes to plan and Edenside re-opens as new state of the art Extra Care Housing for local older people it will provide high quality housing, support and care services which enable, support and encourage people to live independently for as long as they wish to do so.

It will offer safe, private and secure accommodation. (Occupiers of Edenside will retain the independence of having their own home whilst enjoying the benefits of having staff on hand to provide planned and unplanned care and support).

Occupancy will be:

Clive Wigley, CEO of Oaklea Trust; “We are considering a number of types of tenure for #ProjectEdenside –these may include shared ownership (maximum of two apartments), and fully rented apartments. Our allocations policy is in line with the desire to reflect a need for local older people’s housing and any applicants demonstrating a local connection.”

Oaklea CEO Clive & Operations Director (and Project Lead for #ProjectEdenside) Alex Wolfenden have more than a decade’s worth of experience in working on successful shared ownership schemes – notably HOLD mortgages – Home Ownership.

What is HOLD/shared ownership?

HOLD gives people an opportunity to purchase a Shared Ownership home and live independently. In the same way as standard Shared Ownership, you buy an initial share that you can afford, helping you get into home ownership in manageable stages. (for example you could buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share.

There has already been a great deal of interest from 10-12 local people wishing to consider Edenside as a future home.

More details of #ProjectEdenside elsewhere on our website http://www.oakleatrust.co.uk/what-we-do/project-edenside