A developer is launching an apartment scheme that aims to bring affordable homes to Slough on a shared ownership basis.

It is expected to provide 75 one and two-bedroom flats to the Horlicks Quarter – which would start from £71,875 based on a 25 per cent share.

The scheme has been put forward by housing provider Abri Homes.

Sales and marketing director at Abri Stuart Hensby said: “The impact of the current challenges in mortgage rates on first-time buyers is a familiar topic to many.

“Those looking to get on the housing ladder in London and the South East have been affected the most at a time when rents are also increasing.  This is where shared ownership has stepped in and helped make homeownership a real possibility for aspirational homeowners.

“Consequently, commuter hotspots including Slough are witnessing huge growth, especially as people are returning to the office and travelling more for work.”

The site is located within half a mile of Slough railway station and the Elizabeth line, with the developer claiming it is “ideally placed” for commuters.

These flats are available through shared ownership with a minimum share purchase of 10 per cent - while only a five per cent deposit is required.

Falling close to the Horlicks Factory clocktower, the development is expected to offer residents on-site amenities including a concierge service, gym and rooftop garden.

There are also set to be a store and café overlooking the central piazza.

Mr Hensby added: "Shared ownership offers a clear pathway to progress into the housing market.

“Over time, buyers can gradually step up to full ownership, meaning that they are investing in their own future – as opposed to their landlords.”

The scheme to bring flats to Aquifer House in Horlicks Quarter is set to launch this month, with a build completion estimated in late autumn 2024.