Properties > Merchants Quay Development Sold Out
The Merchants Quay Development of 48 one and two-bedroom apartments in Gloucester Docks has fully sold out according to the developers, Crest Nicholson.
The news marks the culmination of the successful regeneration of the Docks area over the past 10 years from a run-down collection of empty warehouses into an attractive waterside location which combines residential living with retail, leisure, culture and heritage.
According to Crest Nicholson, The Merchants Quay development has attracted a wide mix of purchasers from young first time buyers to older people retiring to the area.
Inevitably the development has also appealed to investors, however, 85% of apartments will be owner-occupied with a high proportion of purchasers moving to Gloucester from the south east region. The majority of apartments were sold ‘off plan’ such was the interest in the development since its launch at the end of 2010.
Commenting on the successful sales operation at Merchants Quay, Tim Ridges, Sales Manager at Crest Nicholson South West said,
“We’re delighted with the response from property hunters at Merchants Quay. The Docks have become a social hub for Gloucester and this has proved a real draw to a wide range of buyers.
“Our apartments were especially popular with first time buyers thanks to our promotion of the government backed Firstbuy scheme, which has been instrumental in helping more people onto the property ladder. We’re really pleased to have made so many people’s property dreams a reality.”
Chris Oldershaw, Chief Executive of Gloucester Heritage Urban Regeneration Company, comments,
“We’re delighted that the Merchants Quay development has sold out so quickly, particularly given the current challenging economic conditions. It certainly shows that purchasers are keen to buy into the waterside location and lifestyle of living in The Docks and illustrates the importance of regeneration and the economic benefit it brings to the City.”