493 - 499 Bath Road

The emerging proposals anticipate delivering three types of tennure

Affordable
This type of affordable housing provides opportunities for people who are unable to buy or rent on the open market by offering accommodation at a rent controlled rate of no more than 80% of the local market rent (including service charges). Prospective tenants would need to be registered with and apply through Bristol Home Choice housing register.

Shared Ownership
Shared ownership, a type of affordable housing, is a way for people to own their own home without needing a large mortgage, or the large deposit that goes along with it. This tenure allows residents to buy a share in their home (typically 40%, but in some cases this varies), and rent the remaining share from Sovereign at a reduced monthly rent. Then, as and when residents want to, they can choose to increase the amount of the share they own. This is known as “staircasing”.

Private Rent
The private rental sector is purpose built flats for rent, as you typically find from letting agents. However, instead of individual landlords, where tenants may have less security over their leases, Sovereign would retain ownership and responsibility for all these properties, allowing them to ensure that rents are fair and that the properties are well maintained for the tenants that live there.