Dev roundup – waterside homes, BTR stock rises and former school sites

22 February 2021 | Investment

Viewings are available by booking an appointment with selling agent FHP Living, which will ensure compliance with Covid-19 restrictions, and social distancing and ‘one in, one out’ measures will be in place to guarantee the safety of guests and site representatives. Visitors are required to wear a face covering and use the hand sanitiser provided.

For those who are self-isolating or do not wish to visit the show apartment and penthouse during lockdown, video viewings are also available with a representative from FHP Living.

Apartments are selling well at The Waterside development, and there are a number of one, two and three-bedroom properties available, with prices starting from £185,000 up to £700,000 and Help to Buy options also. Penthouse apartments are also for sale, with prices starting from £700,000.

Sam Monk, director of Monk Estates, says: “The uptake and response from buyers and residents has been phenomenal, during what has been a very tough time, we have seen tremendous interest which is a testament to the detail and thought that has gone into this project. Prices and interest in the development continue to rise as buyers are looking for a high quality of living, which the Waterside has in abundance.”

All homes feature high spec fixtures and fittings, with onsite parking and vibrant communal spaces, including a reception concierge, onsite gym provided by Hitboxx and stunning private communal rooftop terrace above the Waterside Bar + Kitchen, complete with a range of seating and sunbathing areas.

Situated on Pavilion Road overlooking Trent Bridge, the development has excellent transport links with regular buses to the city, electric scooters for hire and canal paths for walking along the River Trent, to the city and other places of interest.

Steve Parker, director at FHP Living, comments: “The Waterside Apartments have everything you could want in terms of waterside living in a fantastic location. The homes are central, yet close to nature, with plenty of open spaces for walking and excellent travel routes.”

“With picturesque views over the River Trent and West Bridgford, and plenty of bars, restaurants and other amenities right on its doorstep – The Waterside offering is unrivalled, and this is why we have had so much interest in these beautiful homes.”

He adds: “Now the show penthouse and apartment are open for viewings, we encourage interested buyers to come and take a look at the luxury properties on offer, for a taste of the waterside lifestyle. All properties that are for sale, are ready to move in immediately, so we strongly encourage prospective buyers to act quickly to register their interest and secure a property.”

UK Build to Rent stock up 135% from 2017

In other development news, the Build to Rent (BTR) sector now accounts for 1% of all UK rental properties, having surged by 135%, according to a study by BTR specialists Ascend Properties.

The sector has gained momentum in recent years. Ascend found that there are now 2.4 million more of us living within the rental sector when compared to a decade ago, making developments designed and built specifically for renters more in demand than ever.

While BTR properties are appealing in terms of their modern design and living standards, they also provide an additional sense of community via shared areas such as gyms, lounges, dining areas and other social outlets such as game rooms.

Ascend’s research shows that just four years ago, there were 22,831 BTR properties in the UK rental market, accounting for just 0.4% of private rental stock. In London, the level of BTR stock was greater, with the 12,709 BTR specific properties accounting for 1.2% of the total rental market.

In the three short years since, the sector has grown considerably. Across the UK, BTR now accounts for 53,750 homes within the private rental sector. That’s a 135% increase in BTR stock since 2017, with the sector now accounting for an estimated 1% of all UK rental properties in the private sector.

While this might not sound a lot, the private rental sector itself has grown by just 0.3% since 2017 where the total estimated number of private rental homes is concerned.

Again, the impact of the BTR sector is even more notable in the capital. The sheer volume of BTR stock has increased by 109% since 2017, with the current total of 26,625 accounting for 2.5% of all private rental properties in London

While the London rental market has grown at a considerably faster rate than the wider UK, it has still seen just a 4% estimated increase in total private rental stock since 2017, further highlighting the impressive growth of the BTR sector within this space.

Ged McPartlin, managing director of Ascend Properties, comments: “Although Build to Rent has been around for quite some time, it’s only in recent years that the sector has started to become a serious area of focus for many big housebuilders.”

“This growing trend is clear when analysing the overall rental market and the increasing number of Build to Rent properties within it, with the sector now accounting for an estimated one per cent of all private rental properties.” 

“However, this impressive growth is just the tip of the iceberg and we expect to see the share of rental homes accounted for by build to rent continue to grow,” he concludes.

Brand-new apartments set to launch at former school site

A former Forest Hill school is being transformed into a new apartment scheme by housebuilder Bellway London.

Work is currently underway on the brownfield site – which was once home to Our Lady and St Philip Neri Infant School on Mayow Road – to create a 59-home development across three apartment blocks called Dacres Wood Court.

Bellway London’s newest division, Bellway London Partnerships, will be delivering the one, two and three-bedroom apartments after the success of the division’s first private development, Fielders Quarter at Barking Riverside, which is still under construction.

Commenting on the development, Bill Kenneally, regional director of Bellway London Partnerships, says: “Work on Dacres Wood Court has come a long way since we gained planning permission for the development in 2019 and we are on track to release the first homes this month.”

Dev roundup – waterside homes, BTR stock rises and former school sites

“Being able to take this brownfield site in a key location on Mayow Road and turn it into a new homes development will revive this area of Forest Hill for the local people, with a mix of private and affordable housing being built.”

As well as providing a landscaped garden and play area as part of Dacres Wood Court, Mayow Park is across the road from the development. It has a bowling green, tennis courts, café and nature reserve, plus a children’s playground and recreational space.

The location of Dacres Wood Court means it sits between two train stations, Forest Hill and Sydenham, which have trains to London Bridge, London Victoria and Clapham Junction, for easy access into the city and across the South East – ideal for those who want to be close to the city without the built-up city landscape.

Of the 59 one, two and three-bedroom apartments being built at Dacres Wood Court, 20 apartments will be designated as affordable homes for local people.

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