Buyers attracted by final specification on offer and outside space resulted in all apartments to be sold within two months of launch ..
Property investment and development specialists, Property Experts has successfully sold all available apartments at its Northwood Avenue, Purley, scheme, within two months. Achieving a final GDV of £2.775 million, £150,000 above initial estimates, all apartments were secured completely off-plan, with buyers attracted by the location, high-quality specification and generous outside space.
Property Experts first acquired the former 1950’s single dwelling bungalow during the pandemic when the property became available after a local developer had secured planning to convert the building into seven new apartments yet failed to complete. Stepping in to ensure the new development went ahead whilst the planning was valid, Property Experts negotiated fresh terms at £740,000 to secure the site.
The planning permission in place allowed Property Experts to develop a mixture of brand-new one-, two- and three-bedroom apartments, each with a terrace or access to a private garden. Prices for the new homes ranged from £315,000 to £510,000, with a mixture of first-time buyers, downsizers and young professionals making up the buyer demographic.
Commenting on the Purley scheme, Bruce Burkitt, Managing Director of Property Experts, said: “Our Purley project has been a huge success. We always do our due diligence ahead of every acquisition and knew that this represented an excellent return on investment. The savings on the initial outlay also allowed us to allocate more funds into the final apartment specification, which we knew would make the scheme standout when launched to the market.
“This has really paid off, with each unit purchased off-plan to buyers that have seen the excellent value on offer, snapping them up in record time.”
Northwood Avenue, Purley, is a collection of spacious homes, designed for open-plan living. The kitchen, dining and living room is the central hub for each apartment, with each apartment benefitting from a spacious terrace or private garden.
Benefiting from high-quality interior specifications, the bathrooms are designed using Crittall doors and Crosswater fittings, whilst the kitchens include instant boiling water taps, wine fridges and Bluetooth soundbars, creating the perfect entertaining space.
Well-located, Northwood Avenue, Purley is close to a host of shops, restaurants and amenities, as well as within easy commuting distance of central London – direct trains reach London Bridge station in under 25 minutes from Purley station. The area also benefits from a number of green spaces, with three prominent golf courses (Woodcote Park, Coulsdon Manor and Purley Downs) nearby.
Continuing a strong year for the business, following the Purley sell out, Property Experts is set to launch its landmark development, Athena House in Horley, at the end of July.
For further information on the Purley project or Property Experts contact the team on 020 8720 6901 or visit www.propertyexperts.co.uk