Property Edition August

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AUGUST 2013

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t’s always good to look at things in a new way, either to gain a new perspective on something familiar or simply see through someone else’s eyes. Cambridge, with its college spires and winding streets, bicycles and gowns, might seem an easy picture to paint, but when seen from above, like I had the chance to recently, it’s clear how much more there is to take in.

I joined Bidwells on a helicopter flight in July to get an overview of the new developments springing up around the city, and hear a talk by senior partner Patrick McMahon and Paul Clarke (planning partner) about the future of housing in Cambridge. It’s an interesting subject, with arguments on both sides, which I’ll be going into in greater detail next month.

In the meantime, you’ll find possibly one of the largest homes on the market in central Cambridge: a Victorian detached home on Trumpington Road with a garden and lots of parking. Also featured is a property which has

gone from a modest house in need of updating to a contemporary family home in spectacular gardens which sweep down to the River Cam. If renovation projects pique your interest, you might want to take a look at the cottages on page 8. If you know Cambridge, you’ll probably know Orchard Street – it’s the one by the Grafton centre with the gorgeous little houses covered in roses. Sadly, three of them have fallen into considerable disrepair, but the good news is they’re now up for sale, offering a unique opportunity for someone wanting to restore them to their former glory.

We’ve also collected a few first-time buyer properties together this month for those who don’t have a few million to throw around.

Hopefully one might get you onto the ladder.

There’s more new homes and development news in Boomtown, including details on some new two-bedroom homes in Trumpington.

See you next month – and keep up to date online at www.cambsedition.co.uk.

JENNIFER SHELTON, FEATURES EDITOR

jennifershelton@bright-publishing.com 01223 499463

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COVER IMAGE The property featured on the cover is the stunning October House, a five bedroom property located on Jacksons Lane in the village of Great Chesterford (on the borders of Cambridge and Essex). The guide price for this property is £2,250,000. For more information or to arrange a viewing, contact Bidwells on 01223 841841 or alternatively, visit the Bidwells website at www.bidwells.co.uk

KEY ACCOUNTS MANAGER George Pearson 01223 499464 georgepearson@bright-publishing.com

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PROPERTY

WORDS JENNIFER SHELTON

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

Riverside romance Like finding the love of your life, they say you just ‘know’ when you clap eyes on the house of your dreams. But maybe it’s not always as simple as that, as the story of this stunning property in Barrington suggests.

Seven years ago, the current owners didn’t even get out of the car when they drove up to view the house. It was the opposite of what they thought they wanted, and in a considerable state of disrepair. But they were persuaded by the agent to at least have a look at the garden, which was the aspect that finally won them over. They have lived there happily ever since.

Backing onto the River Cam, the fivebedroom family home occupies a fantastic position in around two acres of beautifully maintained grounds. The interiors have been

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lovingly brought up to date, providing light and spacious reception rooms, with large patio doors opening from the main living room onto the garden, as well as three smart bathrooms and a contemporary family kitchen.

The master bedroom also boasts spectacular views of the garden, which comprises areas of manicured lawn, flower beds, a pond and a sunny terrace, and backs onto a particularly picturesque stretch of the River Cam. A double garage is also provided, and the location, in this pretty South Cambridgeshire village, is convenient for Cambridge, the M11 and commuter rail links.

The property is on the market for £1.35 million with Fine & Country. To arrange a viewing, contact 01223 363700. www.fineandcountry.co.uk

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Dream home: Trumpington Road You’d be hard pushed to find a property in a more idyllic family-friendly setting than this impressive house on Trumpington Road, Cambridge. Set within easy reach of The Perse, St Faith’s, St Mary’s and The Leys schools, with the Botanic Garden just round the corner and even Addenbrooke’s and the city centre just a short distance away, this property – which also happens to be rather beautiful – isn’t expected to be on the market for long.

A Victorian property set in large gardens, the house has been extended and restored over the years, resulting in a spacious, contemporary family home which still retains its original period charm. A particular standout feature is the traditional-style conservatory, affording superb views of the garden, and leading onto the sophisticated kitchen/ breakfast room with central island and highquality fixtures. Also on the ground floor

you’ll find several elegant reception rooms, a welcoming Mediterranean-style reception hall and a series of laundry or storage rooms, plus a yoga room, which could also serve as an ideal home office. These are all centered around a charming patio courtyard with beautiful climbing wisteria.

The upstairs is similarly free flowing, comprising six bedrooms and three luxurious bathrooms. The current owners have also paid great attention to the garden, which is laid to lawn and patio with attractive colourful borders and trees. There is also a kitchen garden with raised herb and vegetable beds, plus an original Victorian garden room and useful outbuilding. Two cart lodge garages are also provided.

Offers in excess of £2.5 million are invited for this exceptional property. Contact Strutt & Parker on 01223 459501. www.struttandparker.com

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PROPERTY

ACCOLADE FOR ‘PIONEERING’ CARTER JONAS Property consultancy Carter Jonas’s Digital Marketing team has been awarded silver in the Best Innovation category at The Lettings Agency of the Year Awards 2013, in association with The Sunday Times and The Times and sponsored by Zoopla.co.uk.

Now in its fourth year as a dedicated competition for the lettings industry, nearly 5,000 offices were represented this year. The winners received their awards from Karren Brady, one of the UK’s leading and well-known businesswomen.

The judge’s report highlighted that: “Technology was at the heart of the Carter Jonas entry and this innovation prompted

the interviewing judge to proclaim that the idea had actually changed his perception of the agent.” The report also highlighted that competitors were likely to imitate the success, “but as far as lettings agents entered into the Innovation category, Carter Jonas appear to be the pioneers.”

Daniel Fulbrook, head of digital marketing, Carter Jonas, commented: “The team has worked tirelessly to develop its online/offline integration with our Quicklink and mobile website combination.

“I am delighted that we have been recognised for our digital innovation. In order to maintain our unique position in the market,

we will continue to develop our marketing strategy in line with digital trends and media consumption.” www.carterjonas.co.uk

MAKE HILLS ROAD YOUR HOME A spacious, central Cambridge property has recently come onto the market with Carter Jonas. Situated on Hills Road, it offers excellent access to the city centre, Addenbrooke’s, the railway station and a number of top schools.

The property itself is a four-bedroom Arts and Crafts house, in need of some modernisation, but with large reception rooms and period features which would make it a superb family home. There is also a large lawned garden to the rear plus a garage. The guide price is £995,000. Contact 01223 368771. www.carterjonas.co.uk

RESTORATION PROJECT A restoration opportunity has come up in one of Cambridge city centre’s most beautiful streets. Three cottages on Orchard Street, just a stone’s throw from the historic city centre, Christ’s Pieces and the Grafton have recently come to the market. They require complete renovation, but would undoubtedly make stunning homes once restored to their former glory.

“From old chapels to elegant Georgian town houses, Grade II listed Cambridge houses always tend to sell well,” says Nick Redmayne, of Redmayne Arnold & Harris, who are handling the sale. “But it is rare to find three on the market in the centre of the city, at the same time, and moreover three next door to each other.”

The double-fronted cottages occupy one of the most picturesque (and most photographed) streets in Cambridge,

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and form part of a terrace of 13 cottages that were originally designed as servants’ cottages in around 1825 by the architect Charles Humphrey.

The houses are being offered for sale

by Redmayne Arnold & Harris either as a whole or in three lots – and there is a guide price in excess of £275,000 for each of the individual houses.

They offer an outstanding opportunity to create homes of great charm and character. “The houses are completely dilapidated and the guide price reflects their condition,” adds Nick. “But this is a very rare opportunity for a buyer to stamp their mark on these very pretty houses. It is likely that a developer or builder will see the potential to restore all three to their former glory.”

Call 01223 323130 for more information. www.rah.co.uk

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STARTER PROPERTIES

SOLD STC COTTENHAM A charming period cottage has come onto the market in Telegraph Street, Cottenham. The end-of-terrace needs some updating within, but has an excellent position in the heart of the village and could make a great first-time buy.

On the ground floor there is a kitchen/breakfast room, living room with feature cast-iron fireplace, ground-floor bathroom and cloakroom, while two bedrooms are situated on the first floor. There is also a lawned garden to the rear. The property has no upward chain; offers around £169,000 are invited. Contact the Histon branch of TuckerGardner on 01223 470099. www.tuckergardner.com

WINFARTHING COURT Offers around £149,000 are invited for this property in Winfarthing Court, Ely. The modern ground-floor apartment is close to the river, city centre and railway station, and offers spacious, wellpresented accommodation.

From the entrance hall there is a cloakroom, bathroom, kitchenette/living room and two bedrooms.

Perfect for a young couple wanting to get onto the property ladder, the apartment also has a parking space and the benefit of no upward chain. Contact TuckerGardner on 01353 616130. www.tuckergardner.com

WATERBEACH Set within a popular and well-served village close to Cambridge, this extended three-bedroom house is on Winfold Road, Waterbeach.

Inside, there is an entrance hall, kitchen, spacious living/dining room, a recently refitted bathroom and three good-size bedrooms. There are gardens to both the front and rear, plus a garage and parking.

Waterbeach is well connected by road and has its own rail station.

The property has a guide price of £189,950. For more information, contact Bradshaws Residential on 01223 472011. www.bradshawsresidential.co.uk

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Homes of the month TOWN A stunning duplex flat has come up for sale in Petersfield Mansions, in the heart of Cambridge. The accommodation is split over two floors, and presented to an excellent standard. It includes an entrance hall, living room, dining room, kitchen/ breakfast room with fridge/freezer, dishwasher and washing machine, a master bedroom with en-suite, second bedroom with use of the family bathroom, plus a third bedroom or study. Allocated parking is provided behind private electronic gates.

A guide price of £680,000 is invited for this superb home. Contact Radcliffe & Rust on 01223 307898. www.radcliffeandrust.co.uk

COUNTRY If the quiet life in the country is the life for you, take a look at this beautiful detached property for sale in the charming village of Reach.

Gallions is a large detached house in a picturesque rural location, offering spacious rooms presented in a modern style, plus a beautiful garden with swimming pool.

The original part of the property dates as far back as the 16th century, but what you see today is a tasteful fusion of old and new. On the ground floor, you’ll find a contemporary open-plan kitchen, living room, orangery and family room with real wood flooring, exposed chimney breast and a window to the front, plus another room which could be used as a further sitting room or maybe a downstairs bedroom.

Then, on the first floor, there are four further bedrooms, two of which have en-suites, plus a main bathroom. The handsome gardens are laid mostly to lawn as well as a barbecue area, a pond, tree house and swimming pool. There is also a decked area with a hot tub leading out from the master bedroom.

This fantastic property is for sale at £675,000. Contact Radcliffe & Rust on 01223 307898. www.radcliffeandrust.co.uk

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Property Edition | August 2013 | 13

PROPERTY

WORDS CHARLOTTE PHILLIPS IMAGES CHARLOTTE GRIFFITHS

SPOTLIGHT ON

TRUMPINGTON Trumpington is in our sights this month, as we investigate the host of new properties springing up in this fast-growing area f there was ever an area of two halves, it’s Trumpington.

Part one is a traditional village, long on history (it scores a namecheck in the Domesday Book) and with spot-on features including a pretty church and good pubs.

But there’s more to Trumpington than its picturesque villagey feel – so much more.

Known for its large appeal to an eclectic range of personalities (who range from poet Rupert Brooke to Sir Frank Whittle, co-inventor of the jet engine), Trumpington is flourishing as never before, with a host of major new developments taking shape all around it, rising not just in the east but in a fair few other compass points, too.

It’s hard to imagine any other area in the country more deserving of some good-quality housing than our city. Here, it’s desperately needed, catering for a rapidly rising population. Newcomers range from locals, to London exiles, as well as overseas buyers and investors from all four corners of the world, many drawn to the area by the seemingly unstoppable business growth that has made it a byword for innovation.

Though the buzz is citywide, Trumpington hits the spot even more than most when it comes to location. “These new homes are situated very close to major employers, such as Addenbrooke’s Hospital and the biomedical campus,” says Jamie Woodrow, marketing manager at Countryside Properties.

It amounts to a whole new city suburb, according to David Bentley, a partner at Bidwells. “There’s probably over 3,500 houses going up through Trumpington Meadows and Great Kneighton,” he says.

But though it’s a huge expansion of Cambridge, the joined-up thinking that goes with it makes it all work – beautifully. “It’s allencompassing. You’ve got 260 acres of open parkland, retail and leisure facilities, you’ve got allotments and community orchards.

Goodness, it’s a wonder what you can have,” David says.

And that includes the infrastructure.

While the big news recently has been the fast-tracking of the A14 upgrade between Cambridge and Huntingdon, now due to

IMAGE: New builds are cropping up all over Trumpington, like this Abode barn-style house

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PROPERTY

be finished by 2016, two years earlier than planned, Trumpington residents celebrated the completion of Addenbrooke’s Road, a muchneeded new addition, opened almost three years ago, which has substantially reduced congestion and eased access to the hospital.

Trumpington’s popularity is, unsurprisingly, a doddle to define. It’s all down to “local amenities, brilliant roads and good access to the best private schools,” says Richard Freshwater, director of Cambridge residential sales at Cheffins.

Jason Harvey at Haart, Cambridge, praises the state educational options too, with new schools being built to accommodate the growing influx of families, adding to wellregarded existing establishments including Netherhall, a high-achieving secondary, while Fawcett Primary School “is always popular with parents,” he says.

Meeting the needs of these brand new communities, all created from scratch, is a major undertaking. Never daunted, developers have risen to the challenge with an attention to detail that has seen every last ‘i’ dotted and ‘t’ crossed.

“Some developers have thought outside the design box quite considerably, and if you have an individual, very contemporary, ground-breaking scheme, Cambridge is the market to launch it,” confirms David Bentley.

He estimates that around 500 newly developed properties in Trumpington have been either sold or reserved to date, with buyers drawn by a comprehensive range of

styles and property options. Prices start at £225,000 for a one-bedroom apartment in the Abode development, with two bedrooms from £250,000 (Abode and Novo); threebedroom houses (Abode) from £320,000 and four bedrooms from between £410,000 to £660,000.

Until the first residents moved in, potential buyers had to use their imagination when it came to visualising the liveability factor. Now though, there are street scenes and curtains at windows to add the final real-life touch as the new communities take shape.

No wonder Countryside Properties is seeing healthy demand for its two Great Kneighton developments. Novo, with two acres of outdoor running-around space, is particularly suited to active families while Abode’s awardwinning designs offer what Jamie Woodrow describes as “fabulous, well-planned living spaces.” Particularly popular with buyers are well-planned living spaces, flooded with natural light from the full-length glazing.

In Trumpington Meadows, meanwhile, Barratt Homes has been hard at work on its second phase of homes, a mix of one-, two-, three-, four- and five-bedroom properties which are big on sustainable design, using materials including highly efficient aluminium windows, aluminium composite panels and cedar panelling.

And there’s plenty more to come. Recent launches include Trumpington Place, jointly marketed by Bidwells and Tucker Gardner, a select development of just 13 three-bedroom

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townhouses with a second reception or home office and standout design features including distinctive larch cladding, says Oliver Hughes, new homes sales manager at Tucker Gardner.

In Trumpington Village, meanwhile, there’s plenty on offer for those in search of olderstyle properties, with a suitably eclectic range to choose from.

At the top end are the ‘millionaires’ homes’ in Barrow, Bentley, Latham and Porson Roads.

“We sold an arts and crafts style house in Gazeley Lane and achieved £1.8 million,” says David Bentley. “These are all substantial houses from the 1930s onwards that sell for upwards of £1 million depending on how extended they’ve been,” confirms Sam Cooke from Tucker Gardner.

Closer to the village centre, slightly more modest detached houses on the main road, High Street or Shelford Road are priced from £350,000, with large gardens and a lot of potential to extend, making them ideal for growing families.

Further out of town there are the post-war estates, originally local-authority housing, up by around 35 per cent in the last three years, a growth rate that makes them the village’s star

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PROPERTY

WHAT CAN I GET FOR MY MONEY?

0,000 £410,000-£76 1) Great Kneighton

performer, says Sam Cooke. Three-bedroom houses currently start at around £250,000, four bedrooms from £330,000 and are “a good size with nice gardens,” he explains.

And while the developments may have been a long time coming, many would say they have been worth waiting for, strengthening Trumpington’s bonds with the city as a whole.

Property experts reiterate that now is definitely the time to buy. “With any of our necklace villages, although they still command premium prices, they’re not quite as premium priced as the city and they will keep on increasing,” says Nick Redmayne, from Redmayne, Arnold & Harris.

Once, think property specialists, Trumpington occupied the middle ground twixt town and country. “It felt a bit undiscovered,” says Sam Cooke.

But that is definitely no longer the case.

The new developments mean “it’s got that city outlook,” thinks Oliver Hughes. And one thing’s for sure. With a cornucopia of choice and cutting-edge property design, fantastic communications and new communities starting to take shape, Trumpington is well and truly firmly, and permanently, on the map.

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There are a range of properties for different budgets available at the new Abode development at Great Kneighton. One that’s proving particularly popular is this barnstyle house, which is inspired by the building traditions of Cambridgeshire and Suffolk.

Another nod to tradition are the wood-burning stoves in the living rooms, complemented by all the modern fixtures you’d imagine from a new build.

These properties come with anything from two to six bedrooms. www.abodecambridge.co.uk

SOLD £429,995 £330,000

2) Trumpington Meadows The four-bedroom Fieldfare house type at Trumpington Meadows could be yours for £429,995, a new price reduced from £439,995. The Fieldfare has attractive cedar cladding to the front and a hallway, a spacious living room, kitchen/dining room with bay window, four spacious bedrooms and a bathroom within.

Double doors lead from inside the living room to a lawned garden, and there is ample parking thanks to two allocated off-road spots. See www.bidwells.co.uk or www.trumpingtonmeadows.com

3) High Street, Trumpington This traditional Victorian townhouse in Trumpington is up for sale at £330,000 with Cheffins. It offers three bedrooms, an open-plan living room with a number of original features and original stripped wooden flooring, an attractive kitchen, bathroom and garden. Set just off the High Street, it is presented in an excellent condition and close to a wide range of local amenities. www.cheffins.co.uk

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PROPERTY

WORDS CHARLOTTE PHILLIPS

THINKING OF BUYING

TO LET?

You’re far from alone in our neck of the woods. This month, Charlotte Phillips lifts the lid on Cambridge’s buoyant property investment market

ummertime and the letting is easy, as the song (almost) goes. Or so, given the buoyant nature of our area’s property investment market, you could be forgiven for thinking. According to recent figures from Hometrack quoted in a national newspaper, Cambridge is currently billed as one of the nation’s top performers outside London when it comes to capital growth, ahead of well-to-do Oxford and Sutton Coldfield, for example. Only Aberdeen and Milton Keynes perform better.

Ask how it’s done and what emerges is a convergence of growth factors that together create the opposite of a perfect storm (a perfect rainbow?) and inspire all-round investor confidence, something that’s been distinctly lacking when it comes to equities.

A year ago, investment in stocks and shares reached its lowest point since the financial crisis started to bite in 2008. While there has been greater stability over the last few months, markets remain jittery.

Property, as a result, looks increasingly attractive, says David Bentley, a partner at Bidwells. “People have got somewhat despondent over their cash and other investments and have turned to residential property as being relatively safe and somewhere they will probably net four,

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sometimes five, per cent.” Factor in capital growth, and the total return can approach eight or nine per cent.

“Property prices in Cambridge have risen by more than six per cent in the last year,” says Bob Weston, chairman of Weston Homes.

“This has had significant impact on stimulating the rental market, as buyers scrambling to save deposits have to rent for longer. There is a great demand for accommodation with statistics suggesting that there are up to eight people for every room available in the city. This represents a great buy to let opportunity for those who have the capital to invest.”

Add infrastructure improvements and sustained inward investment, AstraZeneca being the latest corporate giant to announce plans to select our city as a base for operations, and it’s no surprise that investors are piling in. Andy Lucas, commercial director of the Cambridge Building Society, reports increasing local demand for buy to let mortgages. “I’d say between 15 and 20 per cent of all our mortgages will be buy to let and that’s certainly increased in the last three or four years. As a comparison, the UK figures for England and Wales are probably around one in eight, or 11 or 12 per cent of the market, so it shows that demand here is undoubtedly at a higher level.”

UK investors can range, he says, from active landlords who have a portfolio of property, to individuals or couples who want to put their assets to more active use. In a market like Cambridge where “you know you’re going to get a good regular income on the rental”, investors increasingly see the sense in adding property to their investment portfolios.

The impact on the market is undeniable.

Extensive number crunching by Savills reveals that in Cambridge we’re seeing around about 60 per cent investor versus 40 per cent owner-occupier, according to Toby Greenhow, director of residential development sales.

It puts just about every other area in the country into the shade, he explains. “In most other centres round the UK where Savills are actively involved in property, the average is about 25 to 30 per cent investor, the balance being owner-occupier. In London it’s about 55 per cent investor, so the percentage of investors in Cambridge is one of the highest in the UK, if not the highest, based on our data.”

For new build projects close to our city centre, the figure is closer to 70 per cent.

There’s no secret as to why. “Those looking at buy to let tend to favour apartments. If you can afford an apartment close to the city centre, that tends to be where your tenant will prefer to live, too.”

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It’s borne out by the success of recent developments such as Berkeley’s Cambridge Riverside, where most of the studio, one-, two- and three-bedroom apartments and penthouses – each with their own terrace or balcony – have already been sold, though ten four- and five-bedroom townhouses will shortly be unveiled with even bigger expectations.

“High-specification homes are in great demand in central Cambridge. The business park is bringing new jobs and residents to the city, meaning a greater, newer and more varied housing stock is required,” says Berkeley’s sales and marketing director Tina Dedman.

In addition to rising demand from UK buyers, the overseas investment market is also extremely buoyant. “Cambridge is the most active centre outside London for overseas investors buying property to rent out,” says Toby Greenhow. Last year, just under half the property investors on Savill’s books were from outside the UK. While the potential returns undoubtedly pull in investors, he also points to the Cambridge twist – the emotional link that many investors have with the area. Some may have a family member studying here. Other potential investors, he explains, “may have studied here themselves in the past and have

IMAGE: The Kaleidoscope development from Crest Nicholson

since gone on to conquer the world and have now come back to buy a piece of Cambridge real estate.”

Developers have responded with alacrity, pulling out all the stops to unite investors with their perfect properties. And though there’s still a long way to go, launch details of new projects are still coming thick and fast, catering for just about every design aesthetic.

The latest show home to be unveiled by Countryside Properties in its award-winning Abode development, for example, is kitted out with furnishings and accessories by John Lewis, with buyers who made reservations in

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July being offered John Lewis vouchers worth £10,000 to create the look for themselves.

Inevitably, property investment attracts its fair share of criticism. You’ll find dark talk of first-time buyers attempting their shaky climb to the first rung of the property ladder only to be pushed off it by cash-rich, empathy-poor buyers, who some cast as pantomime villains, distorting prices and forever doomed to be hissed at whenever they appear on stage.

But, as Toby Greenhow points out, investors tend not to be competing for properties with first-time buyers. “It can be a misconception because they are buying the larger, premium

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PROPERTY

IMAGE: One of Cambridge's newest developments, Ceres from Hill Residential

Houlden Sweeney property law solicitors advise on buying to let

Investors considering whether the good times could be about to grind to a halt needn’t be unduly worried units,” he says. He also points out that when they rent out their properties, they’re adding to the stock available in the area, something that’s badly needed.

Dynamic though the property market may be round here, you won’t find anyone taking investors for granted. Savills has concentrated on getting up close and personal with international roadshows that take the properties to potential purchasers. The firm has run around a dozen international roadshows over the last three years targeting buyers in south-east Asia in particular.

David Bentley also points to the growing importance of slick, precision-targeted online materials that are also proving to be highly effective weapons in spreading the word, enabling investors to see at a glance what they’re getting for their money. “Our online enquiries have increased tenfold recently. The whole thing is very much becoming much more interactive, with 3D floor plans. It’s evolving all the time and it’s quite exciting.”

As to the future? Well, with supply at last increasing, following many years when it

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trailed a way behind while demand shot right ahead, there’s a much greater chance that our city’s growing number of residents will finally be able to find a comfy bed to rest their heads on (and a luxurious-looking en-suite to wash it in, too).

And though the current crop of city centre developments are close to selling out, investors considering whether the good times could be about to grind to a halt needn’t be unduly worried. There’s plenty more in the pipeline, confirms Toby Greenhow. “The next 4,000 or 5,000 houses will all be either on the southern fringe or on the north-western side where the University have their land, so the future of Cambridge is all about the ’burbs rather than the city centre.”

“We’re not bulletproof but you’re going to have to go a long way to actually dissuade investors,” says David Bentley. “With all the projections for increases in the population, the increases in the workforce and all the businesses that are moving to the city, there are few reasons not to think of Cambridge as a safe haven.”

Despite the global economic recession, the buy to let market remains strong, with Rightmove reporting an increase of 13.6% on average rents in the UK since 2009. With its famous university, the renowned Addenbrooke’s Hospital and a strong biomedical, telecoms and technology presence, coupled with a significant number of new housing development projects planned over the coming years, Cambridge remains a hotspot for buy to let investors.

If you’re thinking about investing in a buy to let property, here are some practical points to consider: Do your research – what do you know about the local property market?

Choose the right area for your target market – consider the type of tenant and the local facilities they will be looking for, eg. school catchment areas, transport links.

Do the maths – can you afford the property? Will the rental income cover the mortgage and other monthly payments (maintenance costs, buildings insurance, management fees)? Do you have sufficient income to cover void periods?

Find the right mortgage product – with buy to let mortgages, typically loan-to-value ratio will be 75% or less.

Engage the services of a reputable managing agent – managing agent’s fees can be as much as 15% but, if you choose the right agent, they can help you find good tenants, ensure compliance with statutory regulations and deal with the day-to-day functions on your behalf.

Consider the tax implications – any profit from rental income may be taxable. Owning a second property may give rise to a Capital Gains tax liability when you come to sell.

Try not to get it wrong – it can be costly if you do.

For more information, call 01223 451055 or see online at www.houldensweeney.co.uk

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WORDS JENNIFER SHELTON

BOOMTOWN BULLETIN

All the latest from Cambridge’s new property developments

All booked up at Regency Villas

THE WING TAKES FLIGHT

Plans for a new urban quarter being developed on land north of Newmarket Road, next to Abbey Ward and Fen Ditton, are now well advanced, and Marshall employees and neighbours got a detailed preview of what's in store last month.

The land, which is owned and being developed by Marshall, has been named ‘Wing’ and will create a new vibrant mixed community, comprising up to 1,300 new homes, a primary school, shops, businesses, open spaces and community facilities, which will enhance Cambridge and, in particular, communities to the east of the city, which the airport has long been a part of.

Robert Marshall, chief executive of Marshall of Cambridge, said: “We are very proud of our Cambridge heritage and, in particular, we value our exceptionally strong links with the local community, which includes many local businesses and the people of the Cambridge universities. Throughout the last 100 years we have been passionate about the creation of employment, the development of skills through robust training programmes and the

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fostering of excellent relationships, and we want Wing to be the best example of a new development on the edge of Cambridge in terms of proximity to the city, the Science Park and the rural countryside beyond. Wing is a very personal project for the Marshall company as it will be in what could be considered as our back garden.”

Marshall commenced its Wing initiative in January 2013, together with Pollard Thomas Edwards Architects and the Prince’s Foundation, with a three-day series of community planning workshops. As part of its planning process, Marshall has appointed an artist to provide a strong visual input into the development. The company, Sanderson Sculpture, have been involved with a number of significant local initiatives, including the Corpus Christi Clock. For more information on Wing, see the website. www.wingcambridge.co.uk

The buzz about a boutique development of brand new apartments and penthouses overlooking Parker’s Piece continues with agent Carter Jonas reporting that all 11 residences have been reserved within days of being launched for sale.

The development, Regency Villas on Regent Terrace – which is the flagship Cambridge city centre development by Rheebridge – was launched for sale in May. But so fierce was the competition to secure an apartment or penthouse that all were reserved off-plan within four days.

While Carter Jonas describes the rate of reservations as unprecedented, the agent wasn’t surprised by the speed of the uptake given the development’s quality and the interest shown in Regency Villas ahead of the launch. Zoe Noyes of Carter Jonas explains: “Not only is Regency Villas a development of premium quality with a high level of design, detail and specification, it also occupies a prime location in the core of Cambridge.

“Cambridge city centre is one of the country’s most active property hot spots and the pace of reservations we’ve witnessed at Regency Villas reinforces the desirability of owning property in such a popular location.”

Zoe adds that the launch date for Regency Villas appears to reinforce the results of Carter Jonas’s recent survey of its 79 country agents which pinpointed that the third weekend in May is the best time for homeowners to showcase their homes for sale. www.regencyvillascambridge.com

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PROPERTY

TWO’S COMPANY AT GREAT KNEIGHTON According to Government statistics, only ten per cent of new homes built last year were two-bedroom houses, which is surprising, given their broad appeal for first-time buyers and downsizers, through to investors.

Needless to say, this makes newly built twobedroom homes difficult to come by, and any that do emerge soon get snapped by prospective home buyers, particularly in a sought-after location like Cambridge.

Countryside Properties have released a series of two-bedroom houses at their Abode and Novo developments in Great Kneighton, set to meet the needs of a wide range of buyers. There are two internal layouts to choose from and all are detached. Buyers are urged to enquire soon, as these rare new homes aren’t expected to be around for long.

David Bentley, head of New Homes at Bidwells in Cambridge, says, “The Holbrook and Aduro house designs are quite unique for Cambridge. Generally, smaller detached

houses are quite ‘land hungry’, so we tend not to see them being built on developments.

Because of their rarity, it makes them a popular product.

“The new two-bed homes are expected to generate great interest. The Aduro has the added benefit of a balcony plus kitchen/ diner with separate living room, while the Holbrook is an attractive barn-style property that provides a spacious interior. Both are

ideal homes, individual in design, and they tick a considerable number of boxes for many purchasers, appealing to downsizers, firsttime buyers, investors, and small families.”

The Aduro is priced at £335,000 while the larger Holbrook is £399,950. Both are available with Help to Buy, the Government scheme that enables buyers to purchase with just a five per cent deposit and offers up to a 20 per cent loan (interest free for the first five years) of the value of the property, which can be repaid at any time upon the sale of the home, meaning buyers will only need to secure a mortgage of up to 75 per cent.

The properties are just three miles from Cambridge city centre, under two miles from Addenbrooke’s hospital, with easy access to the new 120-acre country park, guided busway and M11. Call Countryside Properties on 01223 842039 or visit www.novocambridge.com or www.abodecambridge.com

Enjoy the outdoors at Cambridge Riverside verside As the days grow longer and the weather warms, all of us look to make the most of the outdoors – particularly noticeable when trying to find a good picnic spot in your local park, where everyone else has had the same idea. Residents at Berkeley Homes’ Cambridge Riverside development have the best of both worlds; adjacent to Midsummer Common and overlooking the River Cam, it’s close to lovely walks and green spaces, while you’ve also got the luxury of private gardens, balconies or terraces.

Cambridge Riverside sits alongside the picturesque Midsummer Common, overlooking the winding River Cam. For

centuries, the Common has been a central location for many of the city’s events, including the Strawberry and Midsummer fairs, bringing a touch of the English countryside into the heart of the city.

Tina Dedman, Sales and Marketing Director for Berkeley Homes, says: “There are very few opportunities to purchase a city centre home that sits alongside such a picturesque and peaceful location. Properties at Cambridge Riverside are spacious and sophisticated, meeting all the demands of modern life, and also offer private outside spaces, for times when you want to enjoy the sun and fresh air all to yourself.”

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More than 95 per cent of the available homes at Riverside have already been sold.

Other than the great location, residents have snapped up property at the development thanks to a range of benefits, including the concierge service and the state-of-the-art private gym.

There are now only two homes remaining: a two-bedroom duplex apartment from £799,950 and a three-bedroom duplex apartment from £899,950. An exclusive collection of four- and five-bedroom townhouses will be launched soon. For further information contact 01223 656010. www.cambridgeriverside.co.uk

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