Cambridge Property Edition March by Bright Publishing

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MARCH 2014

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BOOMTOWN BULLETIN

CAMBRIDGE VS LONDON

RENOVATION PROJECT TURN OVER FOR

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WELCOME

WELCOME TO

PROPERTY EDITION

ello, and welcome to this month’s Property Edition, bringing you news, comment and details of the latest properties on the market in our area. There are some lovely ones coming out of the woodwork as spring gets underway and we’ve highlighted a few of our favourites in the following pages. Those who appreciate clean lines and lots of space are sure to admire the stylishly designed property with large gardens in Swavesey on page 8; the romantic cottage in Wicken on page 15 would make an exciting renovation project; and there’s a quirky townhouse on French’s Road, Cambridge, which could make an excellent investment.

Househunters moving up the property ladder have traditionally looked further outside of the city for a larger family home. This month, we’ve sussed out the St Ives market, with suggestions for anyone thinking about moving up the A14 to this pretty market town. It’s a historic location, with good schools and good transport links (we’re looking at you, guided busway!), which make it a consistently popular choice for a broad cross-section of buyers. Also inside, Cameron Ewer from Strutt & Parker assures us that interest rates are unlikely to rise this year, creating no cause for alarm; and Carter Jonas fill us in on the local country homes market, which is currently going from strength to strength.

JENNIFER SHELTON, FEATURES EDITOR

jennifershelton@bright-publishing.com 01223 499463

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COVER IMAGE On the cover this month is Castle Hills House, a grand country pile out St Neots way in Eaton Socon. With seven bedrooms, spacious living accommodation and expansive grounds, you certainly won't be short of space. Other features of note include an indoor swimming pool, large outbuilding and river frontage. Guide price £2,950,000. www.savills.com

For commercial enquiries relating to Property Edition, contact Claire Mcgrath or Lucy Nelson on 01223 499 450.

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PROPERTY WORDS JENNIFER SHELTON

PROPERTY NEWS

Edition takes a look at the latest happenings in the buzzing local property market

GRAND DESIGN Set at the end of a private road on a quiet cul de sac in Swavesey, this spacious, design-led property offers more than your average home and counts a leisure suite, indoor swimming pool and sauna amongst its luxury assets. The part-vaulted living room with inglenook-style brick fireplace and galleried study above is just one of the reception rooms that makes up the flexible living space. Stylish curved units add to the modern styling in the kitchen which leads through to the well-lit dining room. The six bedrooms are spread over the ground and first floors and there is also the opportunity to extend the property by converting the large loft area to one end of the house, plus the potential to build an annexe next to the ground-floor bedrooms. Meanwhile the attractive gardens extend to roughly half an acre and a double garage with driveway offers ample parking. This superb home in Chequers Court has a guide price of ÂŁ925,000. Contact Savills on 01223 347147 to view. www.savills.com

WEST WICKHAM Dating from the early 20th century, this stylishly extended and recently refurbished home occupies a superb location in West Wickham high street. The village, just 12 miles from Cambridge, is one of the highest in the county, affording beautiful views of the surrounding countryside. The property itself offers ideal family accommodation, including a reception hall, spacious sitting room, living room, dining room, contemporary kitchen/ breakfast room, landing with study area, four bedrooms, a refitted bathroom and a shower room. The large rear garden is another lovely feature, being laid mostly to lawn with attractive flowering beds and borders. A double garage is also provided. A guide price of ÂŁ550,000 is invited. Contact Carter Jonas on 01223 368771. www.carterjonas.co.uk

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GREEN LIVING AT THE WAY So much thought has gone into making properties at The Way in Fowlmere eco friendly that even the trees are chipping in. Sustainability is at the heart of this new development of A-rated energy-efficient homes, built by the Enterprise Property Group and Exemplar Living. With super insulation, triple-glazed windows, solar PV panels, air source heat pumps, whole house ventilation systems and underfloor heating, the two four-bedroom houses and single two/three-bedroom bungalow are designed to cut energy consumption and improve energy savings substantially. Russell Tame, managing director of Exemplar Living, explains: “We want these homes to work hard for the people that live in them. Through the smart design and construction, energy consumption will be very low with no gas bills and no oil bills; even the silver birch trees that we’ve planted have been chosen for their ability to absorb airborne pollution and letter boxes are external to eliminate unwanted draughts.” Other modern features include coded delivery cupboards for Internet shopping and electric car charging points and there is also a strong focus on local sourcing. The properties have been positioned on-site to optimise natural light and solar gain, while a smart meter located in the kitchen will help owners understand how their home uses and generates electricity. Plot 1A The Firs is on the market through Savills with a guide price of £725,000, and Plot 2 The Willows (the bungalow) is on the market at a guide price of £525,000. For more information contact Gill Daniels at Savills on 01223 347000. www.savills.co.uk

INTEREST RATES UNLIKELY TO CLIMB THIS YEAR Bank of England Governor Mark Carney may have grabbed headlines last month with speculation over rising interest rates now Britain’s economy has improved, however while talk of rising interest rates tends to make homeowners feel jittery, Strutt & Parker believe a rise is unlikely to take place in 2014. Cameron Ewer, head of estate agency at Strutt & Parker’s Cambridge office says, “The UK housing market has been fundamental to Britain’s recovering economy, and something the government will be unlikely to risk before next year’s election.” Latest employment figures coupled with our fastest economic growth rate since 2007 have left many to speculate if Carney will bring forward his planned interest rate rise. Any changes to the current record low of 0.5 per cent, which has been in place since March 2009, will have a

direct effect on homeowners and those on interest-only mortgages. The UK’s sharp economic rebound in the past year has been largely stimulated by government-led housing schemes like Help to Buy rippling through the property market. Critics argue this has left a surplus of buyers driving house prices into a ‘bubble’. The Royal Institution of Chartered Surveyors warned house price rises could become unsustainable in some areas, reporting a six-year high in the number of UK homes that have sold. Carney has however stressed the rate of mortgage approvals and sales have been modest, in context with the overall market. Lenders are approving the highest number of mortgages since January 2008, but this is still 25 per cent less than the average in the years running up to the financial crisis. “Yes, we are experiencing better times,” Ewer comments. “But drastic reactions from the Bank of England are unlikely. Instead of a rise in interest rates, it is much

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more likely that we will see individual banks reassess their own mortgage and loan criteria, making sure their customers would be able to afford any foreseeable changes.” Although British house prices continue to increase, the Bank of England predicts this rate to be steady and robust up until mid-2015 as part of a much broader upturn in overall housing market activity. www.struttandparker.com

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COUNTRY HOME VALUES SHOW STRENGTH Rising values of desirable country properties in the eastern region last year is encouraging news for sellers in this slice of the premium property market this year, providing the properties are realistically priced to sell in this niche sector, according to Carter Jonas. The property consultancy’s latest Country Cottage and Farmhouse Indices show how values across the whole of its eastern region rose by 2.9 per cent and 2.4 per cent, respectively, in a six-month seasonal period last year. The research covers the regional reach of the national property consultancy’s 15 residential offices, all of which are in areas traditionally associated with country houses, whatever their size. The notional country cottage is detached, 1750 square foot, with three bedrooms, a small garden and parking. The farmhouse example is based on a five-bedroom main property with stables, garaging and a range of outbuildings, in around five acres of land. Values for cottages throughout the country are forecast to remain stable during 2014 with notable hotspots predicted in Cambridgeshire and Oxfordshire. In the farmhouse market, capital growth of 7-10 per cent is

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anticipated, nationally, this year. Greater buyer urgency in the farmhouse market has been witnessed due to market confidence and best and final closed bids from multiple parties are now becoming more common in prime markets such as Cambridge, Oxford and Bath. But, says Stuart Harris, Carter Jonas partner and head of residential sales in Cambridge, in this and the country cottage market accurate guide prices are key to ensuring properties achieve best prices in the light of Stamp Duty thresholds. He explains: “The new seven per cent Stamp Duty tax on homes above £2 million may prove to harden some buyer’s attitudes

in the farmhouse market and there are still some prospective buyers who baulk at the extra two per cent duty above £2 million price break – no matter how attractive the house. Close proximity to main commuting stations and the best schools are the influencing factors which might ease the minds and pockets of some of these buyers. “Rising values in other areas immediately trigger recognition of the added appeal of this part of the country and buyers exiting the London market with capital to spare have a strong presence in our region.” www.carterjonas.co.uk

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AGENT LAUNCHES BESPOKE BUYING SERVICE As the economy begins to improve, so does the second homes market, says Jackson-Stops & Staff, based in Newmarket. Buyers reluctant to leave London permanently, but craving the rural dream, are increasingly snapping up weekend retreats in the countryside. Buying a property can be timeconsuming and stressful, particularly for those living away from their search area. As such, Jackson-Stops & Staff have introduced a new bespoke property search service. Situated in an area popular with second-home buyers, and headed by property search agent and interiors expert Lisa Dawson, this bespoke service will help buyers find a property and help with every aspect of the

purchase, including assisting with interior design and furnishings. Lisa prides herself on attention to detail and a personal approach, preferring to meet clients in their own homes so that she can get a full understanding of their lifestyle and property requirements. Living in East Anglia, Lisa is also able to provide informed advice on schooling and local amenities. The search and acquisition service is available to private and corporate clients looking for residential property in East Anglia spanning all price ranges. Backed by a network of Jackson-Stops & Staff regional and London offices and utilising a network of property contacts, the new service undertakes a comprehensive search of properties, including ‘off market’

transactions. With a wealth of experience, Jackson-Stops & Staff is able to negotiate the purchase on most advantageous terms. The sale is managed by Jackson-Stops & Staff on the buyer’s behalf, from the appointment of legal representatives and chartered surveyors through to the swift exchange of contracts and completion. Fees vary; for more information contact Lisa Dawson on 07909 787278 or email her at lisa.dawson@jacksonstops.co.uk.

CITY CHARM This attractive, rather quirky two-bed Victorian property, just one mile from Cambridge’s bustling city centre, is up for sale with a guide price of £395,000. Situated on French’s Road, it comes with planning permission for a two-storey side extension. The detached property has been recently refurbished and now benefits from a newly fitted, contemporary kitchen and bathroom as well as a new heating system. The front door leads into the living room which in turn links to the dining room, both of which have engineered wood flooring. The master bedroom has an east-facing Juliet balcony and both bedrooms are doubles. Contact Savills on 01223 347147 for viewing and further information. www.savills.com

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RIPE FOR RENOVATION Offering plenty of character as well as the opportunity for renovation and restoration, this stunning 15th century part-renovated cottage has come onto the market with Strutt & Parker with a guide price of £475,000. Located in the small, quaint village of Wicken near Ely, this Grade II listed thatched property has been sensitively restored by the current owners. Works

include the exposure of structural and wall timbers, a new luxury bathroom and the addition of a light-filled and decorative tiled orangery with French windows that open onto the back garden. A small apple orchard makes for a delightful feature in the secluded and well-maintained garden. All four of the reception rooms are generously proportioned and have a wealth of period features such as inglenook

fireplaces and a bread oven. The cottage has five bedrooms in total with two at one end with a bathroom – perfect for guests – and three at the other end with another bathroom, and no less than three staircases. For more information or to arrange a viewing, contact Strutt & Parker on 01223 459501. www.struttandparker.com

BRIGGS&MORTIMER NEW OFFICE Cambridgeshire’s first boutique estate agent, briggs&mortimer, has opened a new office in the centre of Cambridge, specialising in sales, lettings and property management. They celebrated the occasion with a drinks reception at the sophisticated Hotel du Vin on Friday 7 February. “The evening went superbly,” says Iain Quinton, director. “We’d like to thank everyone who attended, and we look forward to working with the Cambridge community in providing a unique, bespoke service in sales and lettings.” Already well-established in Royston, briggs&mortimer’s accomplished team have industry experience in managing both corporate and independent estate agencies, lettings and block management, and are MRICS, MNAEA, IRPM and BIFM accredited. These accolades, alongside a genuine interest in people and property, mean you’ll have at your disposal a team of experts with the know-how and enthusiasm to guide you along every step of the way. www.briggsandmortimer.co.uk

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WORDS JENNIFER SHELTON

SPOTLIGHT ON

ST IVES

This pretty, historic market town enjoys close links to Cambridge, helped in part by the guided busway. But it also has plenty to offer in its own right…

ust up the A14, clustering around the banks of the River Great Ouse, the market town of St Ives is one of Cambridge’s most popular necklace towns, offering an attractive mix of pretty buildings, good schools and amenities, excellent transport links and attractive surrounding countryside. Originally known as Slepe, it took on its present name when the alleged body of St Ivo, a Persian bishop, was discovered buried in the town, 1000 years ago. Famous features include the imposing statue of Oliver Cromwell, who was born

and educated in nearby Huntingdon. He can now be found glowering down at traders and shoppers in the Market Square and could seem an unusual choice of town icon, since he is commonly held responsible for blowing up part of our next landmark: the bridge with its ancient chapel, which happens to be one of only four like it in the whole country. Estate agency Peter Lane & Partners has been serving St Ives and Huntingdon

St Ives is one of Cambridge’s most popular necklace towns, offering pretty buildings and good schools

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for over 24 years, offering long-standing knowledge of the local area. Says partner Damien McGrath: “St Ives is a really attractive historic market town with excellent links by road, rail, and the hugely popular guided busway to Cambridge.” Compared to Cambridge, prices are “much cheaper, providing excellent value for money and alternative options for firsttime buyers looking to get on the property ladder,” Damien adds.

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While the area has been consistently popular over the years, the town received a major boost with the arrival of the aforementioned guided busway, which opened in 2011, linking the town centre with Cambridge Science Park, city centre and railway station and providing a muchneeded alternative to the troublesome A14. “The guided busway has been far more successful than anyone expected,” confirms Robert Couch of Bidwells. “Also the cycle route from St Ives is very good which is another huge plus point.” Schooling is also highly regarded in the town, with both public and state schools available. Robert adds, “The schools are good: you’ve got St Ivo, Swavesey Village College fairly close by and the independent Kimbolton School, too.” Robert himself grew up in the Hemingfords, a popular and affluent area across the river from St Ives comprising the closely connected Hemingford Grey and Hemingford Abbots. These spots tend to attract buyers looking for something larger or more unusual, as he explains. “The types of properties tend to be more individual here,” he says. “There are some very nice period properties, and as such it’s an expensive area to purchase in. But when you compare it to Cambridge it appears to be very good value! “I always try and convince people to go out there and have a look, because it’s such a picturesque area. You’ve got the river and some fantastic walks, too.” While Bidwells deal mainly in Cambridge properties, Robert has one St Ives property

The guided busway has been far more successful than anyone expected. Also the cycle route from St Ives is very good, another huge plus point on his books at the moment – details of which are opposite Recreationally, St Ivo Leisure and Burgess Hall offer excellent sporting and leisure facilities, including a pool and dance/function hall. St Ives also offers a multitude of traditional pubs, including the Oliver Cromwell, The Robin Hood, The Golden Lion, Floods Tavern and The Seven Wives. The latter derives its name from the folk rhyme, As I Was Going To St Ives, in which a man with seven wives (each of whom has seven sacks, each filled with seven cats) makes his way to the town’s Great Fair. And for a more bar-like atmosphere, The Taproom on Bridge Street has long been a popular haunt.

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St Ives also gets a mention in war poet Rupert Brooke’s poem, The Old Vicarage, Grantchester, which declares: “Strong men have blanched and shot their wives, rather than send them to St Ives”. A tad drastic, you might say, but perhaps it too had something to do with the rhyme. The future looks good for St Ives, with three new housing developments currently underway with limited availability remaining, including the smart Green Acres site. “There’s a good cross section of properties available,” Robert concludes. Indeed, whether you’re a first-time buyer who wants something brand new, or a family in search of a rustic period home, St Ives has it covered.

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WHAT CAN I GET FOR MY MONEY? ■ NEEDINGWORTH ROAD, ST IVES

£550,000

Offers in excess of £550,000 are invited for this substantial family residence in Needingworth Road, St Ives. Curiously known as ‘The Jungle’, the property dates from around 1900 and boasts many attractive original features. There are four bedrooms, a superb entrance hall with a central staircase, living room with open fireplace and a kitchen with range cooker. The property is set within large lawned gardens, with parking, and is just a short walk away from the town centre. Contact Bidwells on 01223 841842. ■ www.bidwells.co.uk

■ HOUGHTON A stunning period property in the soughtafter village of Houghton is available for sale through Fine & Country. Dating in parts back to 1590, this former farmhouse has heaps of character teamed with attractive, refurbished accommodation throughout. Features include a drawing room with sash windows, original beams and a stone fireplace; a contemporary, farmhouse-style kitchen/breakfast room; four large double bedrooms and an ensuite to the master. Outside, there is a double garage and large lawn, plus views of the village green to the front. A guide price of £795,000 is invited. Call 0845 6032825. ■ www.fineandcountry.co.uk

£379,000

■ BURY CLOSE, ST IVES

£795,000

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This detached family home in Bury Close is on the market for £379,000 with Ellis Winters. Set in a secluded, leafy area, it offers three reception rooms, a kitchen with utility room, four bedrooms, an ensuite and double garage, together with enclosed rear gardens. The property has the benefit of no upward chain – to view contact 01480 388888. ■ www.elliswinters.co.uk

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Image credit: Ian Fyfe

WORDS CHARLOTTE PHILLIPS

CAMBRIDGE VS LONDON

Our city might be a fraction of the size of the capital, but in terms of property markets, Cambridge is punching well above its weight. Charlotte Phillips finds out more property hotspot, fizzing with energy, our area continues to stand out from the crowd even now that homebuyers are in full spate in so many areas elsewhere. The most desirable properties attract increasingly ferocious levels of competition. “For the right houses in the city centre, your classic housing stock, you could have 15 to 20 viewers lined up within the first three or four days,” says David Bentley, a partner at Bidwells. Perhaps it is because Cambridge punches above its weight in so many ways that the twists and turns of our market regularly draw comparisons not with similarly-sized regional cities elsewhere in the country but the Big Smoke itself.

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It may seem counterintuitive. After all, with a population of under 124,000, compared with London’s 8.3 million, we’re never going to compete when it comes to the sheer scale of transactions, or, come to that, the hype: news of a million pound flat for sale in Mayfair, smaller than a tube carriage, is but the latest in a long line of similarly jaw-dropping stories to surface. But London doesn’t have a stranglehold on every superlative going. Our area outstripped every other city in the country, within touching distance of the capital, when it came to house values, which rose by almost 11 per cent in 2013 here. Prices averaged £362,800, the nation’s third highest. Many properties, however, sell for considerably more.

“Some of the large Edwardian and Victorian villas that are 2000 or 2500 square foot will certainly sell for figures in excess of £1.5, £1.75 or £1.8 million,” says David Bentley. Bidwells also recently sold two properties that breached the two million pound barrier, one for £2.5 million, the other for slightly over and “we probably could have sold them four or five times over since then.” With so much interest, many property advisors believe that last year’s price increases could be more than a one-off, potentially outstripping growth in London in 2014 – where Strutt & Parker’s research team predict that prices could grow by 8.6 per cent, compared with 10 per cent in Cambridge. Clearly, this is more than

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a straight David vs Goliath battle, with additional factors at work. There’s talk, for example, of the spectre of future financial penalties for top-end homes leading to what one property expert describes as a slight malaise in the London property market. “Predictions for the election year are as little as 2.6 per cent growth across London, where suddenly you’ve got this mansion tax coming in and it’s going to really hurt people,” confirms Cameron Ewer, a partner at Strutt & Parker. With so few properties likely to be affected here, he says, there would be far less of an impact. The bottom line is that Cambridge has an appeal that makes it, if not unique, then certainly one of the very few places so perfectly placed to entirely fulfil the aspirations of its current inhabitants as well as its would-be residents. Historic on the inside, shiny and new on the outside and packaged in an increasingly attractive-looking infrastructure, it is the city that keeps on giving, tapping into centuries of scholarship on the one hand and a very modern sense of unstoppable

innovation on the other. Other factors, too, set Cambridge apart from just about everywhere else in the country, such as the sheer talent of its inhabitants. A recent report from Centre for Cities highlighted the fact that residents here have higher qualifications and are less likely to be drawing unemployment benefits than anywhere else in the country. Perhaps it isn’t surprising that all these factors combined with the availability of more homes, created by the extensive fringe developments, exert a powerful draw that goes beyond the merely practical. Stuart Harris, a partner at Carter Jonas, pinpoints the impact on those buyers not motivated by need. “When supply increases, people get excited about the possibility of moving house, so you get the aspirational movers as well as those in need and that can really spice up the market.” And while no formal studies currently

Our area outstripped every other city in the country, within touching distance of the capital when it came to house values, which rose by almost 11 per cent in 2013

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exist, Cameron Ewer points to a spirit of romance to the area that taps into the imagination and keeps people coming back, even if it’s just to have a flat as a bolthole. “We sold a huge number of flats to investors who come from all over the world, but also I think there is a romantic side to Cambridge. So many of the buyers say, ‘I studied there’ or ‘I was at school there’ and they want to come back.” That buzz spills over into commerce, too. Our city has an edge to it, thinks Ed Meyer, head of Savills’ residential department. “Cambridge is very much in people’s minds. They’re talking about it being at the centre of scientific study, growth and research and development. That’s what drives people to look at it, the excitement of it all.” While city centre business quarters may be pocket-sized compared with London’s, budding entrepreneurs can’t get enough of them. Indeed, it is that very

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proximity, enabling businesses to continually interact – on both the professional and social levels – with colleagues, clients and potential collaborators, that has been partly responsible for the meteoric success of the Cambridge Cluster. The compacted nature of the city, coupled with the sheer volume of bright minds (thanks in part to the university, of course) and a rich history of innovation and entrepreneurial spirit, as well as lots of high profile success stories, have coalesced to allow our relatively petit city to punch well above its weight and become a world leader in the fields of science and high technology. As virtuous circles go, it is a combination that’s hard to beat. In addition to the hundreds of tiny but dynamic startups, more and more big national and multinational employers are moving in – with Microsoft setting up shop last year, and pharmaceutical and biologics company AstraZeneca relocating their HQ to Cambridge within the next few months. “It’s fair to say that you get these clusters of businesses and industries, research companies and start-ups happening in the Cambridge area of such a density that it’s of world significance,” thinks Stuart Harris. Naturally, there are compromises, starting with availability. London may be a highly competitive market but its sheer size means that even if you miss out on the home you were hoping for, there’s likely to be another one along shortly. Although, as Ed Meyer explains, that may not be the case. “If you don’t get the house, you know that two or three weeks later, another house or flat will come up which will be similar.” Here, however, the lack of stock coupled with huge demand can mean an indefinite wait until the next suitable property comes up. “I think in many ways our market is more fervent than London because of that lack of stock and huge demand.” So while first-time buyers continue to be well catered for, with a good supply of flats in and around the city centre, it’s not the case with classic Victorian villas, the dream property for many, which are in such short supply that wisteria-strewn wish lists may have to be substantially rewritten. It’s testament to the pull of our area that so many buyers move here with the aim of making Cambridge their forever destination. London, in contrast, remains strongly dominated by a Dick Whittington ethos. People flock in to make their fortune then, very often, flock out again, making way for a whole new generation. People often don’t know how long they will end up staying in London, explains Ed

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Meyer. But if you move to Cambridge, it is very often a place you can move to and settle down for life. With our population rising by two per cent each year, ensuring that there are enough homes to go round continues to be a conundrum that is occupying many of our area’s brilliant minds and, as the Centre for Cities also points out, it remains our biggest challenge. With demand continuing to outstrip property supply, housebuilding, though essential, needs to be managed so it avoids compromising the very factors that make up our area’s unique atmosphere and spirit.

Can it be done? Definitely, think local property experts. “You’d struggle to find a reason why you shouldn’t come here,” thinks David Bentley. “When you look at the likes of the population growth, the people you’ve got moving here, the infrastructure that’s coming in and the impact on values, it adds fuel to the fire. We’ve always been a substantial regional presence and I think we’re moving up.” So could Cambridge ever make it to the UK’s second city? He is not ruling it out. “If you look at the earning capital per head, we’d bat in the top three. I think it could. Let’s put us up there,” he says.

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Knowledge is the key for professional property advice call Sab 01223 352170

London Tel: 0208 4320032

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Hertford Tel: 01992 501752

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Residential Sales Residential Lettings Investment Estate & Block Management Development & New Homes

Looking for a property agent call:

Cambridge Tel: 01223 352170 Email sales@sab.co.uk www.sab.co.uk Royston Tel: 01763 242222

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Longstanton Tel: 01954 781963

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WORDS JENNIFER SHELTON

BOOMTOWN BULLETIN

All the latest from Cambridge’s new property developments

THE MARQUE TOWER UNVEILED

RIVERSIDE LIVING Cambridgeshire house-hunters keen to get their hands on a new waterside property from Kier Homes had their first opportunity to visit The Riverside development in Little Paxton during its official launch last month. Amanda Edmunds, regional sales and marketing manager for Kier Homes, said: “The launch of this development has been hotly anticipated and we’re pleased to report that two apartments have already been reserved. Having received considerable interest for both this and future phases in advance we were delighted to welcome such an eclectic mix of househunters through the doors during our opening weekend, ranging from first-time buyers to downsizers.” The Thyme apartments, a collection of one and two-bedroom homes, are the first properties to be released at The Riverside. Future phases will include the Fennel, the Reed and the Sage apartments, as well

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as 11 four-bedroom, four-storey houses. These high-specification properties come complete with allocated parking and boast spacious master bedrooms, most with ensuites, and all with luxury bathrooms, as well as flexible open-plan living areas. Many also offer outdoor terraces benefitting from stunning views of the River Great Ouse. Prices start from £117,995 and buyers can also take advantage of the Help to Buy initiative, which offers a government loan for 20 per cent of the value of the new property and requires just a five per cent deposit to secure the purchase. The deal offers buyers the opportunity to own a new home with a mortgage of 75 per cent, proving useful to first-time buyers. To find out more or to book an appointment, call 07968 835053, visit the marketing suite at The Riverside, Little Paxton, or go online. www.kierhomes.co.uk

This month, Cambridge sees the launch of its highest apartment, The Tower at The Marque, on Hills Road. Standing atop this new development of luxury apartments, The Tower is a stylish 900 square foot one-bedroom flat with an expansive terrace affording far-reaching views of the Gog Magog Hills, and giving a unique bird’s-eye view of the city. The cherry atop this brand-new vision of city living, it is expected to draw plenty of interest from far and wide. A launch party was held at the tower last month, enabling guests to take in the views, the smart Porcelanosadesigned concierge and the on-site gym. For more information contact Savills on 01223 347092, Bidwells on 01223 841842 or go online. www.themarque-cambridge.com

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PROPERTY

NORTH WEST CAMBRIDGE UNVEILED A 150-hectare development of new housing, public amenities and academic facilities has been given the go-ahead, with work already underway on the scheme between Madingley and Huntingdon Roads. North West Cambridge is the largest single capital development project that the university has undertaken in its 800-year history. It aims to alleviate the pressure on the city as more and more look to make Cambridge their home, with a focus on providing accommodation and facilities for university staff and students. “Cambridge is a great, world-leading university,” says vice chancellor Sir Leszek Borysiewicz. “This is evident by our high global ranking and our academic and research performance. But because our global pre-eminence will be challenged

both internationally and domestically, standing still is not an option. “At North West Cambridge we are determined to create a successful, sustainable, mixed-use community as an extension of the city, with buildings and public space, of high-quality design. It will provide for much of the research accommodation and many of the homes for staff that the university is likely to need over the next 20 years.” There will also be a focus on sustainable living, with dwellings being built to the highest level in sustainability (Level 5) and a green travel plan to encourage residents to get on their bikes or take the bus. For more information and to read the plans in full, visit the website. www.nwcambridge.co.uk

NEW HOMES BOOMING IN CAMBRIDGE Bidwells New Homes is currently witnessing one of its busiest trading periods, fuelled by the ‘Cambridge Factor’ and other attributes of the Cambridge residential market. There is no sign of activity levels decreasing, but, while demand, numbers and appetite will undoubtedly continue, the supply line is being seriously tested, experts say. At present, on all Bidwells’ current Cambridge new homes schemes, build programmes are struggling to keep up with the sales momentum. This is also

having a knock-on effect on availability of building materials – placing huge pressure on the supply lines, and undoubtedly raw material prices will reflect the increase in demand. Inevitably all these facets will mean availability will decrease, placing further pressure on values. David Bentley, head of new homes, explains: “Whilst we at Bidwells witness the above first-hand, the under-supply of housing stock is confirmed via the latest Royal Institution of Chartered Surveyors (RICS) report, although expectations

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assume the ‘spring bounce’ will replenish supply. Whether or not that proves to be the case, only time will tell. “Bidwells are involved in a large number of the current Cambridge schemes, including the strategic site of Great Kneighton and those forthcoming schemes of Darwin Green and North West. I personally feel that current activity levels being witnessed are unlikely to quell through a replenished spring market.” www.bidwells.co.uk

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