Cambridge Property Edition June

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JUNE 2014

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FEATURED PROPERTIES

PROPERTY NEWS TURN OVER FOR

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WELCOME

WELCOME TO

PROPERTY EDITION

s summer gets into full swing we really start to appreciate our outdoor space. Even just a small lawn to call our own can be a blessing when it’s time to wheel out the barbecue or relax with a beer after work, but anyone hunting for a city home with good access to rail links, schools etc may find themselves facing the dilemma of location versus garden.

An interesting compromise between the two is offered by our first featured property this month: a smart and stylish city pad in the centre of Ely. It’s a converted industrial bakery with accommodation over three floors, topped off with a spacious roof terrace with conservatory – and stunning views directly

over Ely cathedral. You won’t find many gardens like this one…

Further on, we’ve turned our attention to homes in Cambridge within the £200,000£300,000 bracket. You might not think there’d be many, but we found some lovely cottages and traditional terraces. Take a look at page 12.

And have you ever wondered what you could get for £3.5 million in central Cambridge? Find out what’s on offer on page 11.

Read on for the latest news on Cambridge’s new residential developments, including Trumpington Place, Abode at Great Kneighton and North Lodge Park, in Milton, which has the most gorgeous and refreshingly different show homes we’ve seen in many a year.

Enjoy!

JENNIFER SHELTON, FEATURES EDITOR

jennifershelton@bright-publishing.com 01223 499463

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COVER STAR This enchanting Georgian house in Great Shelford has much more to it than meets the eye. Explore behind its wisteria-strewn facade and you’ll find tasteful, elegant rooms with features typical of the period, as well as an outdoor heated pool and magnificent gardens – which inspired the classic children’s book, Tom’s Midnight Garden. It’s on the market for £3.45million. If this wonderful home inspires your imagination, contact Savills for a viewing. Call 01223 347147. www.savills.com

For commercial enquiries relating to Property Edition, contact Claire McGrath on 01223 499450.

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PROPERTY

WORDS NICOLA FOLEY & JENNIFER SHELTON

PROPERTY NEWS

Edition takes a look at the latest happenings in the buzzing local property market STYLISH CITY PAD A unique and stylish abode in Ely has come onto the market with Strutt & Parker, boasting a fantastic location close to the historic city centre with views of the majestic 12th century cathedral. Originally built in 1946 as an industrial bakery to supply the US bases, the property was purchased by the current owners in 1999, who have carried out a comprehensive and thoughtful programme of refurbishments to create a highly individual city centre home.

Offering versatile accommodation over three floors, the property has a ground floor studio (currently with class D2 usage – assembly and leisure); kitchenette and shower room; garage; workshop and utility room. The first floor offers an airy loft-style apartment space with open plan kitchen/dining room, a lounge area with vaulted ceiling triple aspect windows, three double bedrooms and two bathrooms.

Stairs lead from the living room up to the rooftop conservatory and terrace – which provides an attractive and secluded space for entertaining. The property is on the market for £675,000. www.struttandparker.com

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PROPERTY

BANKS TIGHTEN MORTGAGE LENDING CRITERIA

CONVERTED CHAPEL If you’re after a home that’s bursting with character and history, The Chancel on White House Road in the quiet hamlet of Little Ouse might be just what you’re after. Situated ten miles from Ely and around 26 miles south of Cambridge, this property forms part of a 19th century chapel which has been imaginatively converted into a distinctive family home. With a large open plan kitchen and diner, reception room, family room, sitting room, drawing room, study, dressing room, three bathrooms and five bedrooms, together with secluded and mature gardens – The Chancel offers large and versatile accommodation.

Offers in the region of £425,000.

Contact Carter Jonas for details. www.carterjonas.co.uk

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Getting a mortgage looks set to become harder for people hoping to get on or ascend the property ladder as a number of changes take effect nationwide. New rules, which were introduced by the Financial Conduct Authority (FCA) at the end of April, aim to ensure that borrowers cannot take out loans they cannot afford.

Lenders will have to put a person’s ability to repay under greater scrutiny, requiring them to prove that they can afford the repayments both now and in the future.

Shaun Church, associate director at mortgage broker Private Finance, which works in association with Strutt & Parker, comments: “When applying for a mortgage we are now seeing banks placing far greater emphasis on a borrower’s income and outgoings when arriving at a decision to lend.”

Cheap funding will also be withdrawn for banks and building societies as part of the changes, while fears of a housing bubble could lead to lenders toughening their criteria even more and saving home loans for borrowers considered as low risk.

“In the past too many people got a mortgage by simply telling their lender they would have no problem repaying their debt, and that was that,” commented the FCA’s chief executive Martin Wheatley. “Getting a mortgage can be one of the biggest financial decisions people will ever make, so it needs careful consideration. Our new rules will hardwire common sense into mortgage lending, and the guide we have created will help explain those changes to borrowers.”

Affordability checks will now be carried out when people apply for a loan in a bid to prevent a recurrence of the irresponsible lending practices of years gone by. “Clients are required to provide significantly more paperwork in support of an application,” says Church, “and these documents are being closely scrutinised to ensure the bank are making a sound lending decision in line with the new regulations.”

Monthly payments and household expenditure will be taken into consideration during the application process and will need to be validated before a mortgage is granted. “This includes pension contributions, childcare, household utilities, as well as any loans and credit cards that will continue after the mortgage has completed. This has led to some clients being able to borrow less than they had initially anticipated,” adds Church.

“The majority of lenders have already implemented the changes and there are reports of customers experiencing significant backlogs when applying for a mortgage ‘in branch’ as the staff get up to speed with new processes. This slowdown is in direct contrast with the buoyant market we have been seeing and further delays are likely over the next few months as these new rules bed in.”

You can find a guide explaining the changes in branches of street lenders, mortgage advisers and estate agents nationwide. www.struttandparker.com

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PROPERTY

MOST EXPENSIVE TOWNHOUSE IN CAMBRIDGE ON THE MARKET Feeling flush this month? The most expensive townhouse to come to the market in the city of Cambridge is currently for sale through Bidwells with an asking price of £3.5million, beating the previous record for the most expensive property by £100,000.

The magnificent 12 Harvey Road, Cambridge, is an imposing Victorian townhouse with a gross internal floor area of 5,353 sq ft (497 sq m). It offers substantial accommodation including eight bedrooms, four bath/shower rooms, a magnificent drawing room with a large square bay window and carved timber fireplace with marble hearth, an elegant library/study and a spacious kitchen/dining room. In addition the property offers three fully equipped self-contained flats as well as off-street parking for three cars, a garage, bike store, workshop and a walled rear garden with summerhouse and pond.

The first recorded owner of No 12 was Rev Herbert Ryle, Professorial Fellow at King’s College, Hon. Chaplain to Queen Victoria, Dean of Winchester, then Bishop of Exeter and later of Winchester. Other famous residents of the road were Charles Stanford, composer of church music (Number 10 Harvey Road that has a blue plaque) and the family of Maynard Keynes, economist, who lived at No 6 from the 1880s until 1948.

“This is truly a magnificent home of rare quality,” says Chris Carey of Bidwells. “Its location is second to none, a wonderfully wide tree-lined road close to the city centre, transportation links, some of the very best schools, university colleges and the Botanical Gardens to name a few. This together with the quality of the property has influenced the price point and we expect to receive considerable interest in the home.” www.bidwells.co.uk

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PROPERTY

WHAT CAN I GET FOR MY MONEY? WE LOOK AT WHAT CAMBRIDGESHIRE HAS TO OFFER FOR UNDER £300,000

■ HOME END, FULBOURN

£295,000

This delightful Victorian terrace offers attractive accommodation, a large garden and a convenient location, situated in Home End, Fulbourn, with easy access to Addenbrooke’s hospital and the city centre.

Downstairs there is a living room with Victorian cast iron fireplace; further family room, charming cottage-style kitchen, cloakroom and utility room, while upstairs there are two bedrooms and a bathroom.

The lawned rear garden is a particular feature, and the property also comes with detached studio office with underfloor heating. www.sab.co.uk

SOLD STC

SOLD STC

£249,950

■ HIGH STREET SAWSTON A grade II period cottage, situated in Sawston High Street, could be yours for just under £250,000.

The charming property offers a separate living and dining room with period features, a kitchen with slimline dishwasher and space for a fridge/freezer and windows overlooking the rear garden. A landing with timber beams leads on to three bedrooms and a bathroom.

There is an enclosed garden to the rear plus storage sheds and a water feature. www.bradshawsresidential.co.uk

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■ ROSS STREET, CAMBRIDGE

£295,000

Traditional Victorian townhouses in Cambridge are always sought after, so this one in Ross Street is likely to make an excellent investment – as well as a beautiful home. The property has a light, spacious feel throughout and retains many lovely period features.

On the ground floor there is an entrance hall; open living/dining room with open fireplace and double doors to the large garden; a kitchen and a cloakroom. Upstairs there are two double bedrooms, with stripped wooden floorboards, and a bathroom. www.tuckergardner.com

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PROPERTY

WORDS JENNIFER SHELTON

BOOMTOWN BULLETIN

All the latest from Cambridge’s new property developments

THE DRAKE AT ABODE An impressive addition to the new homes market is The Drake at Abode, the new six-bedroom barn-style dwelling south of the city. Just three are being built, available for occupation in autumn. Featuring a dual-aspect kitchen leading to a separate dining room, with a door to the garden, the interiors connect fluidly with the outside, creating a feeling of spaciousness and light. The living room – also with two large windows – features a cosy log burner, and the master bedroom upstairs comes with its own luxury en suite. An integral car port is also provided, and landscaped gardens can be found to the front and rear.

The ‘urban village’ in which the property stands enables residents to access Addenbrooke’s, Cambridge train station and the city centre with ease.

A guide price of £975,000 is invited for this spacious, well-located family home.

Contact Bidwells on 01223 841842. www.abodecambridge.co.uk

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PROPERTY

TWO YEARS ON FOR CAMBRIDGE’S NEW SUBURB It’s just over two years since the release of the first phase of Great Kneighton homes, a development by Countryside Properties, and almost two years since doors opened at Trumpington Meadows with Barratts. David Bentley of Bidwells New Homes reflects on the changing face of Cambridge’s newest suburb.

These developments are located within the Southern Fringe of Cambridge and have achieved a thriving community feel, so how has this new suburb developed over this time and what remains in store?

There are over 600 residents now living within the Southern Fringe developments. Street scenes have matured alongside the open spaces and the first primary school has joined the community. New developments take time to mature and soften, but as the machinery has moved onto new phases within each scheme, a real sense of living and community is evolving.

At Trumpington Meadows a large number of the proposed 80 ‘24 carat gold leaf’ bricks have already been set within a selection of homes within

the development, acknowledging the crossover between old and new and the archaeological finds on the scheme.

Whilst many of the first residents of these schemes took a slight ‘leap of faith’ when buying off-plan, as street scenes were in their infancy and no curtains were at any windows, many have benefitted already from a maturing development and a rising market. Some of the very first residents have already witnessed capital growth between 20-30 per cent and expectations are that strong growth is set to continue as each scheme evolves, a factor coupled with the ever-present ‘Cambridge factor’.

With the volume of work that is undertaken on strategic development sites, prior to actual delivery of any houses, it must be quite refreshing for all those

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involved to see communities evolving, kids on bikes and in play areas and a much-needed housing supply being replenished with some inspirational designs in housing products.

As we approach the two-year anniversary for the Southern Fringe developments we still have much to look forward to over the next two years and beyond.

A community health centre, a library, shops, transport hub and even allotments are all on the horizon together with a further supply of extensive cycle paths which will really establish this huge expansion for the city as a new suburb.

The Southern Fringe is already making its mark and it will be interesting to see how the sister expansion on the western side of Cambridge through the North West and Darwin Green developments evolve over the coming years.

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PROPERTY

ONLY TWO REMAINING AT TRUMPINGTON PLACE A brand new development on the sought-after Southern Fringe of Cambridge is offering house-hunters the chance to invest in our thriving city and enjoy the comforts of a stylish modern home. Trumpington Place is a collection of 13 three- and four-bedroom townhouses, incorporating natural materials which lend a softer finish to the overall look.

Properties each come with a garden, gorgeous contemporary kitchen and bathroom, and solar panels on selected plots.

Such is their popularity that only two properties remain, including a three-bedroom townhouse at a £505,000 guide price. Contact Bidwells on 01223 841842 to view. www.bidwells.co.uk

NORTH LODGE PARK, MILTON

BEAT THE COMMUTE For Londoners fed up with battling rush hour on the tube (not to mention tube strikes), Cambridge is an increasingly popular alternative. A recent report carried out by Savills showed a 23 per cent increase in the number of people commuting to London, with over 6,290 people who regularly make the 52-minute journey to the capital from Cambridge.

Offering an extensive range of three-, four- and six-bedroom family homes – many of which include home offices – ‘The Green Lanes’ is the latest phase to be released at Abode, Great Kneighton by Countryside, where residents can enjoy both relaxed family living and the delights of Cambridge living whilst working in the capital.

Abode is located close to the Great Kneighton access point for the awardwinning fast-track Cambridgeshire Guided Busway, which provides links to Cambridge train station in under 20 minutes. From the train station there are regular services to King’s Cross and London’s Liverpool Street, as well as to Stansted Airport. By car, the M11 is only a few minutes away.

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Andrew Loveday, sales & marketing director of Countryside’s New Homes and Communities division, says, “Thanks to the excellent links from Cambridge to Kings Cross, buyers are finding they can enjoy the perfect combination of family living and the ability to commute to the capital with great ease. The homes in the Green Lanes embrace contemporary living with barn-style two- and three-storey homes featuring fluid, open-plan ground floors and spacious dining and living areas.”

There are a wide range of internal layouts to suit purchasers’ needs. The barnstyle properties feature large windows including full-height glazing opening onto private outdoor space, allowing in plenty of natural light. All master bedrooms and some second bedrooms offer en-suite facilities, and a selection of houses have home offices.

Prices for homes within the Green Lanes at Abode range from £499,995 for a threebedroom house to £999,950 for a sixbedroom house. For more information on Abode call them on 01223 846650. www.abodecambridge.co.uk

Who says new homes have to be minimalist and modern? A cluster of homes currently going up at North Lodge Park in Milton are evidence that new builds can be just as full of character as historic properties. The new neighbourhood consists of a variety of house styles, including twobedroom terraces from £265,995 and the beautiful Tudor-inspired Churchill, a detached home with four bedrooms, solar panels and an en-suite to the master (prices from £559,995).

Pop by for a nosey round their delightfully different show home, which is guaranteed to get your imaginations fired up.

Contact Bellway on 01223 862876 or Bidwells New Homes on 01223 841842 for more information. www.bellway.co.uk

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