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Gloucestershire Business News

Developer experiences phenomenal demand for new homes in Cheltenham

Just under half of the first release of new homes at No.102 Prestbury Road in Cheltenham have been snapped up by buyers in the first week of the development's launch; a sure sign that the desire for quality new, sustainable homes is set to continue.

Gloucester-based developer, Newland Homes, started construction on the site earlier this year and the first homes will be completed this December in time for Christmas.

The development will eventually provide 30, three- and four-bedroom homes, within easy walking distance of Cheltenham town centre.

Located on Prestbury Road, on the northern side of Cheltenham, Newland Homes say the contemporary homes are positioned to enjoy the best of both worlds, with easy access to the town centre, yet within striking distance of the surrounding Cotswolds countryside.

Laura Kent, sales consultant for Newland Homes, said: "Our buyers tell us that our properties are incomparable to other new build developments locally, in terms of the build quality, the location, and the style and size of the homes, which at an average of 1,300 sq ft are spacious for a property so close to the centre of Cheltenham.

"We are seeing a large proportion of purchasers using this window of opportunity to take advantage of the stamp duty holiday, and Help to Buy, before those two financial incentives come to an end. Christmas is also approaching, and we only have four homes left that will be ready to move in to for the festive season."

Established in 1991, Newland Homes is leading the way to create more environmentally-friendly new build properties.

Each detached home at No. 102 Prestbury Road will have up to eight solar panels, rainwater butts to harvest water and composter areas in the garden, together with integrated eco-bins in the kitchen, to help facilitate a consumer change. Furthermore, car charging points for hybrid or fully electric cars are pre-wired for customers to fit and take advantage of the Government grant.

Homes at No. 102 Prestbury Road also benefit from a Superfast Fibre Broadband connection with at least two data sockets within the home.

Prices start from £435,000 for a four-bedroom home, and those purchasing now will benefit from the current stamp duty holiday on homes up to the value of £500,000.

The Government's Help to Buy incentive is also currently available on all new build properties up to £600,000, with the proviso that the property must be built by the end of February 2021.

Help to Buy lends buyers up to 20 per cent of the cost of their new home through an equity loan from the Government, which is interest free for the first five years. However, both schemes have a limited time window; the stamp duty holiday ends in March 2021 and the eligibility criteria for Help to Buy will change from next Spring.

Laura and her colleagues will be offering tailor-made tours of Newland Homes' latest development from 11am to 5pm, seven days a week. To book your visit, please call 01242 300307. For further information visit: www.newlandhomes.co.uk/cheltenham.

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