‘The Waitrose Effect’ – Good news for buyers in Cheltenham
WITH three properties already sold ‘off-plan’ at Elan’s new development in Cheltenham, new research into a property price phenomenon could be further encouragement for others to invest.
St George’s Mews in Cheltenham is offering homebuyers brand new homes with traditional exterior styling within half a mile of the town centre.
In addition, there’s a Waitrose store just a 250m walk from this stunning development, and that’s reportedly good news for the fortunate buyers. Not only do they benefit from having one of the country’s top food stores nearby, but they also reap the rewards of ‘The Waitrose Effect’.
Online estate agent eMoov.co.uk has revealed new research about the positive effect of a Waitrose store on the price of houses surrounding it. Property surrounding stores, it said, cost on average £456,000, more than double that of the UK overall.
The other good news is that Elan Homes has just released homes for sale off plan at this superb development, priced from £335,000.
St George’s Mews, just half a mile from Cheltenham town centre, offers a traditional collection of 12 new and exclusive properties by Clevedon-based Elan Homes, featuring three and four-bedroom townhouses and three-bedroom two-storey homes, many with garages.
And for those who feel getting onto the property ladder is still a step away, Elan Homes can offer incentives including the government-backed Help To Buy scheme. Through it home buyers can put down as little as 5% deposit, and will be eligible to receive an equity loan of up to 20% of the value of their new home. It leaves them only needing to secure a 75% mortgage from a bank or building society.
It makes owning a home easier than ever and takes away the frustration of years in rented property where any money is going straight into the pockets of the landlord, instead of investing in the future of the person living in it.
Andrea Nippe, sales director for Elan Homes in the South, said: “St George’s Mews is proving a really popular development so we are very excited about releasing new homes for sale off plan and the early sales success.
“Not only does buying off plan mean homeowners get the pick of the plots, buying at an earlier stage also allows purchasers to select from a range of interior options and specification choices to help make their home individual to them. These include kitchen units and work tops, bathroom tiles, and other added extras that all add up to make a house a home.”
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