cambridge property edition september

PLANNING FOR OUR CITY’S FUTURE

Brought to you by Cambridge Edition SEPTEMBER 2013

SAFFRON WALDEN

www.cambsedition.co.uk

spotlight on...

Dream Home

CONTEMPORARY

CHIC

FREEMAGAZINE

Property Edition | September 2013 | 3SIGN UP TO THE EDIT NEWSLETTER AT CAMBSEDITION.CO.UK

eptember is a month of beginnings: kids go back to school, universities welcome a new wave of eager freshers, and summer

starts to ripen into autumn. September is also the month the property market reawakens, as house-hunters step up their search in order to be settled by Christmas.

As such, we’ve plenty of properties to bring you in this month’s Property Edition. Everyone loves a good barn conversion, and you’ll find two on page 14 which might offer some inspiration if you’re thinking of tackling a conversion project yourself.

As ever, we’ve found two properties, one in town and another in the country, serving as a good comparison on what you can get for your money, where. The ‘town mouse’ is a beautifully restored, highly desirable period house right on Midsummer Common, while its country cousin has room for a large garden and boasts lovely original features too.

With all its ancient traditions, wacky student clubs and great minds, past and present, it’s usually safe to expect the unexpected in Cambridge. That’s why we weren’t so surprised to hear about a certain unusual artifact discovered in the garden of one village property. Let’s just say, while the story of how it came to be there has long been forgotten, it’s owner rarely forgot a thing… Another amusing story we found concerned the strange questions estate agents have been asked while conducting viewings.

Further on, read more on my helicopter flight over Cambridge, which shone light on the plans for future developments. It’s a controversial subject, as none of us want to see our city spoiled, but at the same time, demand is still vastly outstripping supply.

It’s a similar story, on a smaller scale, in Saffron Walden, which is our featured town of the month. On pages 20-22, I chat to local agents to find out more. Enjoy!

WELCOME

WELCOME TOPROPERTY EDITION

COVER IMAGEFeatured on the cover of Property Edition this month is the Cavendish Building at Abode, located within the Great Kneighton development on the southern edge of Cambridge. The developer is Countryside Properties. 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 MANAGERGeorge Pearson 01223 499464 [email protected]

COVER IMAGE

JENNIFER SHELTON, FEATURES EDITOR [email protected] 01223 499463

6 | Property Edition | September 2013 SIGN UP TO THE EDIT NEWSLETTER AT CAMBSEDITION.CO.UK

PROPERTY

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

WORDS JENNIFER SHELTON

BIDWELLS LAUNCH TV CHANNELBidwells, one of the UK’s leading property consultancies, has launched its own TV channel. Bidwells TV is the city’s fi rst and only dedicated television property channel, and is accessible via PCs, laptops, tablets and smartphones. It will feature every residential property marketed by Bidwells in their offi ces in Cambridge and Saff ron Walden.

Each featured property, whether for sale or to let, will be promoted via a tailored, high-quality animated walk-through video.

Recent research conducted by Nielsen, a leading global information and measurement company, concluded that property marketing via online TV channels is more eff ective than traditional

advertising methods and the most compelling medium to showcase property.

Commenting at the launch of Bidwells TV, Chris Carey, head of residential, said: “Online video walk-throughs allow potential buyers or tenants to view new homes without having to step outside their front door – or even on their smartphones – wherever and whenever they want.

“This innovative way of marketing is particularly popular because it enables the seller or landlord to display particular features of the property, which may not always be easy with more traditional methods of marketing.”

For a tour of a property visit www.bidwells.tv or access it via their website. www.bidwells.co.uk

CURIOUSER AND CURIOUSERIs the kitchen inside or outside? How many cats do the neighbours have? These are some of the most unusual and bizarre questions estate agents have been asked while conducting viewings, according to a recent survey from Move with Us. They asked 200 independent estate agents from around the country and found that, as well as the usual concerns over parking, schools and the like, some house-hunters have other less predictable questions on their mind.

19% of viewers asked about ghosts, with estate agents being quizzed as to whether or not there were any spirits residing in the property.13% of questions were about what’s included in the property purchase. The award for the most unusual freeloader goes to the man who asked the estate agent, ‘Would the vendor be prepared to include the parrot?’12% of customers were concerned about animals, and of those, 30% were questions about cows. ‘Do the cows moo loudly?’ and ‘Are those cows always in the fi eld?’ being some.

Only 6% of questions were about the neighbours. One agent was asked whether the neighbours ate a lot of chips, and another asked how many cats the neighbours had.

included ‘Is the kitchen inside or outside?’, ‘Can I try before I buy?’ and ‘Is there insulation in the garden?’

Robin King, director at Move with Us, explained: “Although the data that we’ve collated is amusing it does highlight the importance of buyers needing to be better equipped with as much information as possible before visiting a property. Knowing what questions to ask and doing a bit of research is the best tactic and ensures that buyers have all the information they need to make an informed decision on their home purchase, avoiding any disappointments or regrets further along in the process.

“Jotting down questions you want answering prior to attending a viewing is always a good idea as often your heart can take over and rule your head before you’ve considered the more practical aspects.”


PROPERTY

Elegance, opulence, history and style all come together in this beautiful home in High Street, Harston. Situated just over five miles south of Cambridge, the detached Victorian property is close to some excellent schools, university departments, Addenbrooke’s and the rail station, while benefitting from the peace and quiet of the countryside.

Built for a local farming family, the property itself dates from 1854, and was subject to an extensive, sympathetic renovation programme in 2003. The rooms display many original features, such as open fireplaces and high ceilings, and beautiful parkland surrounds the house on all sides. There is also a heated outdoor swimming pool.

The property has a guide price of £3 million. For more information contact Savills on 01223 347000 or visit their website. www.savills.co.uk

Dream home:High Street, Harston


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LITTLE LINTON FARM BARNSAn attractive and unusual prospect has come up in Linton, off ering someone the chance to own a substantial cluster of barns and various outbuildings within a pretty rural area.

Little Linton comprises a range of converted cottages, a converted farmhouse and granary, all within a private location conveniently placed for access to Cambridge, the M11 and A11. The main Kingfi sher Barn has been converted to an excellent standard, featuring underfl oor heating, an impressive reception hall, vaulted drawing room and four bedrooms. There are also beautiful landscaped gardens to the front and rear, plus ample parking.

The guide price is £795,000 – contact Carter Jonas on 01223 368771.www.carterjonas.co.uk

Pack your trunk…

BARNS

WATERBEACHA property with an unusual feature sold recently through Bradshaws. 10 Station Road in Waterbeach, a pretty Victorian terrace, off ers three bedrooms, traditional period features and space for parking. But one feature that sets it apart from other properties is an unusual garden ornament – in the form of an elephant’s skull.

“It is believed to be a relic from the Victorian era,” says Andrew Bradshaw, of Bradshaws, who handled the sale. “In over 30 years of selling property I am confi dent that this is a fi rst!”

The property attracted a number of viewings – including over 17 in one weekend – before being snapped up in July for well over the guide price of £229,950. www.bradshawsresidential.co.uk

LITTLE EVERSDENThis striking barn, situated in Church Lane, Little Eversden, is currently on the market through Strutt & Parker. The sizable home has six bedrooms, three large reception rooms, three bathrooms and a kitchen/dining room, and retains all its original charm. Wide, inglenook fi replaces give a homely feel, made even cosier by the thatched roof and original timbers throughout. The property aff ords spectacular views of the surrounding countryside, and its gardens are another fantastic feature. It extends over four acres and includes lawns, woodland clearings, a paddock and stables plus plenty of parking. There is also a detached cottage, providing additional one-bedroom accommodation.

Little Eversden is seven miles south-west of Cambridge, within easy reach of the M11 and A14, while local amenities can be found within the village. A guide price of £1.45 million is off ered. Contact 01223 459502. www.struttandparker.com


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BRUNSWICK WALKBeautifully restored, this Grade II listed period house occupies a fantastic position in Brunswick Walk, overlooking Cambridge’s Midsummer Common.

The property, which is just a few minutes’ walk from the river, a Michelin-starred restaurant and the centre of town, is presented in excellent decorative order. There is a superb kitchen/breakfast room with limestone flooring, a utility room, luxury bathroom, sitting room with sash windows and original fireplace, plus two bedrooms. Residents’ parking is also provided.

Likely to attract a lot of interest, this property is on the market for £650,000. Contact Carter Jonas on 01223 368771 to arrange a viewing. www.carterjonas.co.uk

BURWELLIf a large garden, spacious rooms and a quiet, village location are high on your wish list, book a viewing of this lovely family home in Burwell. Grade II listed, it retains many attractive original features, from working fireplaces to timber beams and sash windows, and offers handsome, flexible accommodation within.

There are four downstairs reception rooms, a kitchen/breakfast room, five upstairs bedrooms and two bathrooms. This is complemented by an impressive garden which stretches down to the Burwell Lode river. A triple garage with studio above is provided.

This property has a guide price of £650,000. Contact Radcliffe & Rust on 01223 307898. www.radcliffeandrust.co.uk

TOWN & COUNTRY

STATION ROADA spacious 1920s bungalow has come onto the market in Histon, offering well-presented accommodation within this pretty and sought-after village.

The accommodation includes an entrance hall, living room, dining room, luxurious refitted kitchen and bathroom, a shower room, office and four double bedrooms. There is parking for two vehicles, plus a west-facing rear garden.

Offered in excellent condition, this property is on the market for offers around £520,000. Contact Redmayne Arnold & Harris on 01223 323130. www.rah.co.uk

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A picturesque market town steeped in history, there's lots to love about this 'mini Cambridge'. Jennifer Shelton lifts the lid on its enduring appeal for property hunters

hen you think of Essex, chocolate box cottages, a bustling market square and an ancient ruined castle may not

spring instantly to the forefront of your mind. However, you’ll find all of these and more in Saffron Walden, in the north of the county, proving that there’s more to Essex than its reputation would have us believe.

Saffron Walden lies only 17 miles from Cambridge, 12 miles from Bishop’s Stortford and just over 50 minutes from London Liverpool Street by rail, nestled within gently undulating countryside. It has a few claims to fame, counting Call the Midwife writer Heidi Thomas, actor Stephen McGann and father and son racing drivers Stig and Tom Blomqvist amongst its more memorable residents over the years.

“It’s a smaller version of Cambridge, in many respects,” says Bruce King, director at Cheffins, Saffron Walden. “There are still a good number of buyers locally and further afield looking for good-quality properties, both in town and the surrounding villages.”

Saffron Walden checks many desirable boxes: picturesque buildings, a twice-weekly market, a turf maze and much-beloved Bridge End Gardens, the ruins of a medieval castle and Essex’s largest church. There’s also

a community run cinema and some great pubs and restaurants.

In terms of its appeal for property hunters, Saffron Walden has two main pulls: its location, and the quality of living it provides. “It’s close to Cambridge, the M11 and the main line into Liverpool Street, and it’s a good, traditional market town,” explains Steve Cass of Cass Properties. “There’s very little crime here, it’s a nice community and there’s plenty

to do. It’s a thriving market town in a really fantastic location.”

Schooling is another pull, adds Julian Carder of Bidwells in Saffron Walden. “The state school is County High, which is a big draw, although it’s actually at capacity,” he says. Catchment area politics also place greater demand on town centre properties, he continues, for parents with an eye on getting their children into the best schools.

Originally known as Chipping Walden, the town relied on wool as its main trade, until the cultivation of the saffron crocus in the 16th and 17th centuries brought it a new trade in expensive saffron, thus sparking the name change. It was grown widely in the area until demand lessened in the 18th century, opening the way for malt and barley to become the town’s two main exports, boosted by the popular cattle market and building of the corn exchange.

Today, there are several excellent, traditional pubs still very much in evidence: “The Old English Gentleman is the main one,” says Julian of Bidwells, “and The Cross Keys has recently been done up. There’s also The Eight Bells, which is more of a restaurant-come-pub.” The arrival of the railway in the mid-19th century connected the town

SAFFRON WALDEN

WORDS JENNIFER SHELTON IMAGES CHARLOTTE GRIFFITHS

SPOTLIGHT ON

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perhaps would have done otherwise. There’s nothing to the west of Saff ron Walden, as that land’s all taken up by the estate. In the past, there would have been a massive amount of employment given to the town by the estate, and while some of that has dropped away over time, Audley End is still a huge part of the tradition of Saff ron Walden.”

House-hunters will fi nd something to suit most needs and budgets, as Steve details:

to London, and today, though the Saff ron Walden station was closed in the 1950s, Audley End station continues to serve the town and attract London commuters wanting to escape to the country.

“We have the railway and the M11 on our doorstep, so we get lots of London commuters,” says Bruce at Cheffi ns. Anyone looking to commute into Cambridge can be there in a leisurely 12 minutes.

However, as more Londoners discover the town, pressure is mounting to build more homes to meet the demand. It’s a topic that’s on the lips of most residents, as Bruce explains: “It’s a big hot potato at the moment. The town has a great charm, and there’s a danger that, if there’s overdevelopment, it will change the dynamics of the town. But at the same time there is need for growth – the planners just need to be careful about getting that balance.”

Steve Cass adds, “We’re all the same really, we acknowledge that there’s more housing needed but we don’t want it to be anywhere near us! I think a sensible increase in housing in Saff ron Walden is ok, as long as it’s accompanied by appropriate new roads and infrastructure. I think that’s what most worries the residents.”

Developments include smaller infi ll projects, including The Sun pub which has

been converted into fl ats, and out of town communities such as Hill Residential’s The Avenue, next to the Friends’ School.

Bruce adds: “Growth within reason is where we want to see it going.”

Part of the reason why Saff ron Walden has lain largely untouched for so long is down to Audley End House, the English Heritage stately home down the road, which owns much of the land thereabouts.

Steve explains: “What it has done is, it has stopped the town growing as much as it

PROPERTY


1) Church StreetThis stunning townhouse in a prime central location is on the market with Cheffins. It affords views of the church and offers versatile, contemporary accommodation over four floors, including four bedrooms with an en suite to the master. There is also a home office/potential annexe, plus a roof terrace.

The property has a guide price of £785,000. Contact Cheffins on 01799 523656. www.cheffins.co.uk

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£785,000

WHAT CAN I GET FOR MY MONEY?

2) The AvenueA modern four-bedroom house at this new development will set you back£394,950, or £739,950 for the five-bedroom house. The development occupies a leafy setting in an avenue of mature trees and is proving to be a popular choice with families, thanks to its location just next door to one of the town’s top schools. Contact 01799 513688. www.hillresidential.co.uk

3) Artisans DwellingsAn end-terrace home full of character, this property could be yours for £250,000. It comes with two/three bedrooms and retains some wonderful period features, from original beams to timber flooring. There is also an extended kitchen with stable door leading to the garden. It is on the market with Intercounty with no upward chain. Contact 01799 522641.www.intercounty.co.uk

£394,950 - £739,950

“At the lower end of the market, you might get a purpose-built, one-bedroom flat for £90,000, or a one-bed house with a little bit of garden for £115,000-£120,000. Then for two-, three- and four-bedroom houses you’d be looking at anything from £160,000 up to in excess of £300,000 if it’s in a good spot in town with a bit of character.”

Julian agrees with Steve’s outlook on the variation in Saffron Walden.

“We’ve had a good selection at Bidwells. We had the only thatched house in Saffron Walden earlier this year – a very pretty ‘Hansel and Gretel’ style cottage which sold for over the original guide price of £895,000,” says Julian.

So, it seems this jewel in Essex’s crown, while no longer as undiscovered as its residents might wish, continues to provide an attractive prospect – and it’s hardly difficult to see why, with its great transport and travel links. “It’s a lovely market town in a fantastic location,” concludes Steve. “People are clamouring to come here.”

£250,000

what’stheso“

”catch?

If you are thinking of selling or rentingyour property and you were told that youcan expect:

A professional, local and personal service which isbacked-up by over 10 years experience and qualifications We guarantee to beat any price from a local High Streetagent by up to 50%, whether you’re selling or renting

Would you be thinking:

There. Is. No. Catch.

SELLERS: We charge flat fees to sell your property which are never more than1% of the sale price and usually much less

LANDLORDS: Our monthly rent collect and managed commissions cansave you hundreds of pounds a year over the High Street competition

NO VAT CHARGED: So you are automatically 20% better off than using a HighStreet agent – even if they could match our base price

NO CONTRACT TIE-IN: If after a few weeks you aren't happy with us, a simple emailor short written note will be suffice. We are of course confident that you will be –however, it's your property and your choice and you certainly won't get any 'attitude'from us.

So, for a smooth and successful sale or for hassle-free lettings –It has to be Cass.

* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes* Image for indicative purposes

01799 668233cassproperties.co.uk

Cass-Properties

cassprops

Charming FULLY FURNISHED 2 bed Victorian cottage. Nicely extended. Off road parking. Super Garden. Convenient for Cambridge, Addenbrookes, M11 & mainline to London; Energy Efficiency Rating: D; Tenant fees £185 – £220

MORE LIKE THIS REQUIRED

Sawston £925pcm Whittlesford Let s.t.c

Great Chesterford Thaxted £350pcmLet s.t.cMORE LIKE THIS REQUIRED Double room for lodger. Shared kitchen & bathroom.

Off-road parking for 1 car. CT, Gas, Electric & Water included.

Steve Cass, founder of Cass Properties says, “I started Cass Properties with one aim in mind. To give our clients the best of both worlds!”High Street agents have local knowledge and give face-to-face personal service. They are however, very expensive.

Online agents are very cheap but have no local knowledge or face-to-face service.

If only you could have the best of both worlds, online pricing with High Street service.

Welcome to Cass Properties!By not having a High Street shop our costs are low & we pass the savings on to our clients BUT we do have the experience, local knowledge & give face-to-face service.Steve explains, “I have worked in Sales & lettings for over 10 years combined, the last 4 for a Saffron Walden agent. I am exam-qualified for both Residential Sales & Residential Lettings. You get a free consultation, a personalised marketing plan and flexible fact-to-face service. So confident am I in our service quality, that our contract has no tie-in period. You are free to leave with just 24 hours’ notice.”

Cass Properties, ‘Online Prices, High Street Service’Here is just one testimonial:“I have no hesitation in recommending Steve Cass of Cass Properties. His communication is regular and of high quality and the detailed paperwork was dealt with most efficiently. When you add the fact that he charges noticeably less than other agents, the overall value for money is superb.” D R, Whittlesford

Let s.t.c

Let s.t.c

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After years in the property doldrums, schemes like Help to Buy are helping first-time buyers and those moving up the ladder. Charlotte Phillips investigates the impact locally

f homeowners aren’t out on the streets rejoicing following the launch of the government’s Help to Buy scheme in April, it’s

probably only because joyful housebuilders are crowding them off the pavements. That and the fact that they’re probably too busy stroking the carpets and counting the bedrooms in their new homes that are, in many cases after years of waiting, finally theirs. So, at least, many of our area’s experts would have you believe, and with good reason, given the most recent industry figures.

The Council of Mortgage Lenders recently reported that nationally, mortgage lending in the second three months of 2013 was up almost 25 per cent compared with January to March. The total lent in April, May and June, estimated at more than £40 billion, is the highest recorded since the end of 2008 – the year when it all went so horribly wrong for the overall economy. “There’s more confidence,” confirms Stephen Mitcham, chief executive at The Cambridge Building Society. “People are returning to the market.”

Even more cheeringly, there’s the re-emergence of that previously endangered breed, the first-time buyer. Though the 250,000 transactions a year are, as the Council of Mortgage Lenders (CML) is quick to point out, ‘scarcely’ half the rate of a decade ago, it is still a big move that is very definitely in the right direction.

Across the nation, Help to Buy is undoubtedly the single biggest shot in the arm. Aimed specifically at those purchasing new homes priced at up to £600,000, it lets buyers with a five per cent deposit or more borrow another 20 per cent interest free, up to a maximum of £120,000, repayable when they sell the property.

The second phase, which applies to new or existing stock, comes in the form of a Government guarantee of up to 15 per cent of the house buyer's loan, a gold-plated assurance that should make borrowers

without huge deposits a less risky proposition for lenders.

So how’s phase one of Help to Buy shaping up in our area? Very nicely indeed, thinks Jonathan Lewis, sales and marketing director of Weston Homes. “The last three to four months have been very different to the past three to four years. It’s been very buoyant.” By way of proof, the company cites its Veritas development on Cromwell Road, where over 80 per cent of its first-phase apartments have been sold in just five months.

It’s helped that the government scheme has been well administered, with – so far at least – few signs of stress or bottlenecks in the approval system, thinks David Bentley, a partner at Bidwells. And he says that when it comes to Cambridge new properties, the scheme has accounted for around 30 per cent of reservations, despite taking a while for the momentum to get going, with take-up

BOOSTWORDS CHARLOTTE PHILLIPS

BORROWING

The government scheme has been well administered,with few signs of stress or bottlenecks in the system

PROPERTY


strongest, predictably, in the slightly lower-priced fringe developments.

Savills reports a similar picture. Nationally, thinks Toby Greenhow, director of residential development sales, Help to Buy will affect 400,000 homes over the next three years. Meanwhile, “sites here are booming.”

The impact has been greatest on two- and three-bedroom homes. “In the last few years, they’ve been difficult to sell because you really did rely on youngsters with large deposits which have been more difficult for them to pull together.”

Now, instead of calling on the bank of mum and dad, which has been running dry, they have been able to turn to the “bank of George and Dave, as they call it,” he says.

And it’s those younger buyers who are the main beneficiaries. Jonathan Lewis reckons the numbers have doubled as couples who, until recently, would have found it difficult to get a mortgage, despite having savings and a demonstrable credit-worthiness as long-established renters, are finally able to acquire their first home.

The scheme also helps those desperate to make that next move. “There are also people who have lived in their homes for several years who see it as an opportunity now to move on to the next rung of the ladders,” he says.

Of course, our local area still remains something of a rare beast when it comes to property sales. While there’s no doubt that the Help to Buy scheme has had a transformative effect on outlying areas and neighbouring counties, where around 40 per cent of reservations can be attributed to the scheme, the recovery in property in our city centre was steaming along quite nicely even before it arrived on the scene.

“I was starting to see green shoots around Christmas time,” says David Bentley. “We normally have a wind-down for Christmas, but we had a relatively busy run-in. We hit the ground running in January and haven’t stopped since.”

It’s a similar picture of success at the Cambridge Building Society, where Stephen Mitcham reports a record year for mortgage lending in 2012 and says history is shaping up to repeat itself this year. No wonder, given the perhaps surprising amount of lending options around. “There’s lots of choice out there again,” he points out. “People are in the market and are really keen to lend.”

That includes higher loan-to-value (LTV) mortgages, which means that buyers may not need as big a deposit as they might think.

The other big decision these days is knowing whether or not to fix. Though it ensures peace of mind, the downside is the inability to benefit from discounts or additional

IMAGES: 80 per cnet of Veritas’ first- phase apartments sold in five months

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savings should interest rates fall further. The Cambridge Building Society is doing its bit with its latest offering. Called the Switch to Fix mortgage, it’s designed to ease some of the financial stresses and strains by allowing customers to start off with a discounted mortgage but switch to a fixed-rate product without incurring early repayment charges.

With Help to Buy phase two kicking in early in 2014, and sales ticking along very nicely, the course for house buyers seems set fair. Given recent positive news about the economy, it’s not surprising that discouraging words are few and far between.

Equipping current renters with the financial wherewithal to become buyers instead could, you might think, depress the buy to let market. Not here, believes David Bentley. “The rental market is so strong that we’re not reliant on one sector of the market. That growth means it has minimal impact.”

It’s important, thinks Stephen Mitcham, to be realistic. “We’re in the very early stages of

a slight recovery. We have to ask is this a trend or a blip?”

The last thing we want to do is generate a house price bubble that, in the end, prices first-time buyers out of the market again.

There’s consensus, however, when it comes to the strength of the property market in this neck of the woods. Confidence is up, finance is easier and house sales are rising – with schemes above the Help to Buy threshold, such as Berkeley Homes’ Cambridge Riverside development, also proving popular. And let’s not forget the ripple effect every transaction has on associated industries, urges Jonathan Lewis at Weston Homes.

“In our head office, there are 250 people working here. It’s the knock-on effect to all the trades that build it, the cleaners, the interior designers. It just buoys the whole economy.”

As for Help to Buy? “Long may it continue and I hope the funds don’t run out too soon,” he says. It’s a sentiment few buyers, and builders, would contest.

With Help to Buy phase two kicking in early in2014, the course for housebuyers seems set fair

The Help to Buy equity loan is a government-backed scheme operating in England to help people buy a new-build home. The scheme started on 1 April 2013 and will run until 31 March 2016 (or earlier if all of the funding is taken up). With a Help to Buy equity loan, the government loans you up to 20% of the cost of a new-build home, so you only need a 5% deposit and a 75% mortgage to make up the rest. Help to Buy equity loans are open to both first-time buyers and home movers on new-build homes worth up to £600,000. The property will be registered in your name and you will be entitled to sell it when you like. You’ll have to pay back the equity loan after 25 years, when you sell your home or at the end of your mortgage period, whichever comes first. Here are some points worth noting:

You won’t be charged loan fees for the first five years you own the home.In the sixth year, you’ll be charged a fee of 1.75% of the loan’s value. After this, the fee will increase every year. The increase is worked out by using the Retail Prices Index plus 1%.Fees don’t count towards paying back the equity loan.You cannot use the scheme to purchase a buy to let property.You cannot rent out your existing home and use the scheme to buy a second home.

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

Houlden Sweeney property law solicitors

explain Help to Buy

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BOOMTOWN BULLETIN

WORDS JENNIFER SHELTON

All the latest from Cambridge’s new property developments

Cambridge is one of the country’s economic success stories. World-class education, a top-quality workforce and stable property prices mean it’s attracting big names in business, as well as households wanting to relocate and take advantage of all it can off er. But can our small, historic city cope with such rapid growth? It’s a question being considered by planning companies charged with meeting the housing demands of this growing city.

This month we met the Bidwells planning team to hear their plans, which included taking a helicopter fl ight for a bird’s-eye view of how Cambridge is changing.

“Cambridge is one of the great hopes for the UK economy,” explains Patrick McMahon, senior partner at Bidwells, who are behind many of the recent developments, including the Trumpington site. “It’s a great place to live, work and employ people. 52 per cent of Cambridge residents have fi rst- and second-class degrees, compared to the national average of 15 per cent.” As a result, Cambridge has attracted names like Microsoft, and more recently Astrazeneca, who are moving their headquarters to Cambridge next year.

“This will be the largest relocation in the UK,” confi rms Patrick. “It’s going to create 2-3,000 jobs, bringing employees and their families, which is going to put a strain on what is a very small place. This is one of the reasons we need to think about retaining Cambridge and all that it has, while giving it the ability to take on these major add-ons which are undoubtedly vital for its future.”

The way in which Cambridge is developed is clearly something which requires great thought. Patrick adds: “I drove through Basingstoke the other day and tried to compare it with Cambridge. Basingstoke is a fabulously wealthy part of the world, and a lovely bit of countryside. But it was developed with what I think were very short-

term principles. There has always been a body within Cambridge that has thought about the long term. The University thinks in 800-year steps. The long-term vision brings short-term success. I think that’s the key message. If you think about the next 150 years, the next ten to 15 look after themselves.”

Any kind of development had been limited until recently when areas to the north-west (Huntingdon Road), north-east (Chesterton, Cambridge Airport) and south (Trumpington) were released for development.

Rob Hopwood, planning partner, adds, “For 50 years, Cambridge’s green belt was strictly maintained. But because of the successes over the last ten years, they had to release this land. Other areas have also been put forward for future development.”

From the air, it’s possible to see the areas further out of the city which are earmarked for development: Northstowe being one. Building away from the historic centre may seem an ideal solution, but there are concerns over this.

“This is not the right development strategy,” states Rob, “because you are building away from the activity and the jobs. People coming to work for Astrazeneca will not want to live in the new settlements then struggle to get into work in the morning. The public transport system is poor at the moment, and the county highway offi cers expect a 39 per cent increase in vehicular traffi c entering Cambridge over the next ten years. So, we say, release more green belt in the right locations, where people want to live.”

It’s certainly an interesting subject. Cambridge is booming, and expansion of some kind is inevitable – it’s the way it’s managed that needs consideration. www.bidwells.co.uk

PLANNING FOR CAMBRIDGE’S FUTURE

PROPERTY


The Home Design team at John Lewis have leant their skills to Countryside Properties’ new show home at Abode, Great Kneighton, creating a desirable, stylish apartment sure to turn heads. The property is the fi fth show home to open at the award-winning Abode development, and the interior has been exclusively designed by John Lewis.

The new 1,653 square foot three-storey show house off ers generous accommodation – three double bedrooms, a spacious fi rst-fl oor living room, kitchen and dining area,

three bathrooms, a study/library area, plus gated car port. There are also three spacious terraces – ideal for outdoor dining or relaxing on a warm summer evening, and full-height glazing fl oods the property with natural light.

“We’re delighted to have worked with Countryside Properties on the show home at the Abode development,” says Ruth Payne, general manager at John Lewis Cambridge.

“It’s a really great opportunity for us to showcase both our wonderful products and the range of services we off er to help

customers turn their new house into their dream home.”

The Abode development is situated within Great Kneighton, a vibrant community being created on the southern edge of Cambridge city centre. The award-winning development has more to off er residents than just distinctive architecture: high-specifi cation interiors, energy effi cient systems and a range of facilities including schools, a library, shops, offi ces and a 120-acre country park. www.abodecambridge.co.uk

John Lewis show home revealed

Weston Homes have reached an important milestone at their residential scheme on Cromwell Road in Cambridge, with the fi rst residents having moved into their new homes on the development.

In only fi ve months, over 85 per cent of apartments released across three blocks in the fi rst phase of Veritas were sold and many of these will soon be occupied. This success means Weston Homes will bring forward the release of the remaining apartments, off ering buyers a fi nal chance to purchase a home that boasts an excellent combination of pricing, specifi cation and location.

Bob Weston, chairman and founder of Weston Homes, comments: “We are incredibly pleased with the sales success of the fi rst phase at Veritas and are excited to welcome the fi rst occupants. We believe we’ve created valuable new homes for the community of Cambridge, recognising the housing need and meeting the demand for

the high-specifi cation new homes purchasers have been crying out for.”

Veritas offi cially launched at the end of January and is being built on brownfi eld land. When complete, the scheme will provide 136 new homes, 54 of which will be vital aff ordable homes for Cambridge residents.

The stylish one- and two-bedroom apartments feature open-plan layouts, en suite master bedrooms, balconies or terraces to most plots and allocated parking.

Prices at Veritas start from £249,995 and Weston Homes has made properties available through the new low-deposit Government scheme, Help to Buy. For more information, call 01223 241892 or visit www.weston-homes.com/Veritas

FIRST RESIDENTS MOVE IN TO VERITAS

PROPERTY


Properties will soon be available to rent or buy at Haling Place, a new development at the former MOD married quarters in Waterbeach. The plan is to create spacious two-, three- and four-bedroom homes in this rural yet well-connected location. Annington Homes will be releasing the homes in phases, the fi rst rental properties having come on the market in August 2013, with properties available to buy from October 2013.

Angela Walsh, head of sales and marketing at Annington Homes, said: “We are pleased to off er a range of houses and apartments which suit both purchasers and tenants at Haling Place. Its village location, good schools and commuter connections make the development ideal for families, couples and fi rst-time buyers, and as a result we have already received a high level of enquiries.”

The properties at Haling Place are undergoing refurbishment, both externally and internally, with new kitchens and bathrooms being fi tted in all of the properties. The grounds and communal spaces are being

improved to include additional landscaping. The name Haling Place has historic and local links with Waterbeach. The development takes its name from the towpath on the river to Cambridge. This river path – called Haling Way – is also part of the National Cycle Network, providing a scenic cycle route between Waterbeach and Cambridge.

Haling Place is close to local shops, cafés and pubs, a library and brewery, with Cambridge just down the road and rolling countryside – great for walks – nearby too.www.annington.co.uk

BEST OF BOTH IN WATERBEACH

The fi rst occupiers have now moved in to their new homes at Ceres, by Cambridge railway station. The modern development comprises one-, two- and three-bedroom apartments, penthouses and duplexes situated at CB1 – part of the regeneration of Station Road. The new development has proven hugely popular with over 90 per cent of the apartments already sold. The duplex apartments have just been released.

CB1 is a new gateway to Cambridge and is transforming the Station Road area. The

new state-of-the-art transport interchange and magnifi cent new Station Square will sit comfortably alongside the preserved Grade II listed railway building and distinctive Spillers Mill. The prestigious Mill will be launched next year, featuring 19 apartments including two stylish penthouses, and should be one to keep an eye on if you’re in the market for a brand new property.

For further information and to view the properties, contact Bidwells New Homes on 01223 841842.

First ones in at Ceres

MP applauds Cambridge developmentA Cambridge housing development received a visit from the Government’s Planning and Development Minister last week, after it was recognised for delivering well-designed homes and an outstanding neighbourhood.

Homes by Skanska welcomed Nick Boles MP to its fi rst ever UK development – the Seven Acres site in Trumpington.

Mr Boles approached Homes by Skanska to visit the site in person after Seven Acres was commended as one of only fi ve new-build sites to meet the Government’s Building for Life criteria, establishing a benchmark for successful developments in the UK. With a focus fi rmly on sustainability, each of the 128 homes is equipped with the insulation and energy effi cient technologies required to meet at least level 4 of the Code for Sustainable Homes – the current minimum standard for developers to meet is level 3. All the sustainable features are built in and many of them are unseen, providing energy saving and environmental benefi ts as a seamless part of the design.

The visit also provided an opportunity to discuss the challenges that construction companies face and the role the Government can play in helping to overcome these.

“Skanska has built some beautifully light and airy homes at Great Kneighton,” enthused Mr Boles. “I applaud them for designing a development that meets the Building for Life standards.”

Homes by Skanska will launch its next development in Cambridge later this year, and has future plans for further developments in the south west of England.homes.skanska.co.uk

cambridge property edition september

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