May 2017 – Monthly Property Development Update
Here is a round-up of our latest developments and how they are progressing with accompanying and sometimes interesting photos.
HCD2 – No. 10 Alderley Edge
We are very pleased to announce that we have, this week, won the planning appeals for Alderley Edge (and were awarded full costs). We also already have two parties keen to reserve two of the apartments.
HCD1 – Regent Street
We have received reservation deposits on another three properties at Regent Street. Assuming all of them go through we will have just two plots remaining – and we have some serious interest in at least one of those. It’s taken quite a bit longer to sell these properties than expected, but we have learned some valuable lessons along the way and they are now selling well.
HCP156 – Station Road Marple
All the issues with the flooding to the cellar have been dealt with and it is now a fully habitable space with flooring. Our very own Diane (what would we do without her!) has been busy maintaining the lawn and mountaineering up step ladders to trim the hedges in order to keep the property looking attractive to viewers. We recently appointed a new sales agent who is generating a fair amount of interest in the property. The new photos look great on Rightmove and we had several viewings last week. We await further developments – fingers crossed this property will sell soon as it deserves to be lived in and loved.
HCD5 – Bank Chambers
Our Bank Chambers development of nine apartments is in the heart of thriving up-and-coming Stockport. The roof has now been removed and thankfully no unforeseen horrors were exposed (which is always a danger when converting an old building). New windows have been fitted and other work is progressing smoothly.
There are still some issues to try and sort out with the conservation officer regarding our plans for the additional apartments on the ground floor, and we are hoping to have some positive news on this shortly (though there are never any guarantees when dealing with council officials who can rather suddenly move the goal posts!)
HCD10 – Bollin Heights
Full planning has been granted for stage two of this development and we are now in the process of applying for stage 3 of the planning permission which involves adding an extension to the rear of the building. We have also have found a personal training company who are keen to set up and operate the fitness studio, and we expect the apartments to be ready for purchasers to move into by October 2017. The sales agents continue to receive strong interest in the remaining apartments.
HCD4 – Gratrix Park
We had a slight issue recently with the drainage on part of the site which has caused minor delays, and we had to create a ‘soak-away’ under the road after negotiation with the council who decided they weren’t going to pay for it – joy. This has created additional and unexpected costs, but everything else is progressing well. We anticipate the show house and the first few units will be complete by early July 2017.
HCD3 – The Woodlands
We had a few problems with the council towards the start of the year, but everything is now resolved. The foundations for the first tranche of houses have been laid and work is progressing at a decent pace. Interest from local Yorkshire home buyers (who have to date been somewhat sceptical about the idea of buying off-plan) has started growing as potential buyers can now see the site developing and taking shape. Our priority is to get the show home ready as quickly as possible to aid off-plan sales.
HCD13 – Coppenhall Way
We have exchanged contracts and the pre-completion conditions should be finished this week so that we can start clearing the site and ‘breaking ground’ before the end of the month.
HCD7 – Brundred Farm Prestbury:
No change – we are still waiting on the outcome of the planning appeal.
Don’t forget, if you need any help with the investment process, or have any questions, you can call our client account team, Nigel or Damian, on 0161 667 4264.