New-build development sparks citywide interest

st catherins house

A launch at Catherine’s House in Bedminster shows that new-builds are going from strength to strength

Scores of new apartments at Catherine’s House in Bedminster were launched to market last weekend when prospective owners were able to view two fully furnished show apartments.

Aimed at local buyers and priced accordingly, the Government’s Help to Buy scheme is also available on many of the apartments, bringing them within reach of more first-time buyers. Prices for a one-bedroom apartment at Catherine’s House start at £157,500 and for a two-bedroom apartment from £199,950.

Bristol City Council seem to be firmly sticking to their promise to provide 26,400 new homes in Bristol before 2026, with new developments opening up all over the city. This flurry of activity comes at the perfect time. With many people being priced out of rental properties around Bristol and the South West, schemes such as Help to Buy will see many young professionals able to get their first foot on the property ladder. Furthermore, these new developments offer existing homeowners the chance to purchase a buy-to-let property or expand their property portfolio.

Originally a former office block that has lain empty for many years, the building on Dalby Avenue is being converted into 54 one- and two-bedroom modern apartments, all housed in an eight-storey building.

The apartments are located just a short walk away from Bedminster’s independent shops, bars and restaurants, cultural attractions and parks. The properties are also within a 20-minute easy walking distance of the heart of Bristol’s city centre.

First-time buyers and homeowners looking to move can benefit from the Government’s Help to Buy Equity Loan scheme. This offers buyers a Government loan of up to 20% of the cost of the property (interest- and fee-free for the first five years) so people only need to raise a 5% cash deposit and take out a 75% mortgage.

Ross Kieran, director of Ocean New Homes, said: “These apartments represent very good value in comparison with some other properties in Bedminster and the wider area, especially when you look at the specification and finish. This is the first step towards the regeneration of Bedminster Green.”

“The Help to Buy scheme means a first-time buyer purchasing a one-bedroom flat for £157,500 at Catherine’s House would only need a 5% deposit of £7,875, along with the 20% Help to Buy equity loan. Their mortgage repayments would be around £407 per month which is significantly less than the rent for most comparable flats in the area.”

On reflection of the launch this past weekend, agents Ocean Land and New Homes stated: “The launch on Saturday at Catherine’s House was very successful. The event was very busy with over 60 viewings and we have now reserved over 50% of the scheme. We received lots of positive comments and have already received further interest from more prospective purchasers wanting to reserve.”

Anyone wanting to visit the new showrooms and find out more about the new apartments can visit the Catherine’s House website at www.catherineshousebristol.co.uk or contact Ocean Land and New Homes to book an appointment on 0117 946 9838 or newhomes@oceanhome.co.uk

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