The number of reservations at Phase One of the new £100 million Trent Basin residential development in Nottingham are ahead of projections reports specialist regeneration developers Blueprint.
Over fifty per cent of the homes available in Phase One have been sold ahead of completion with a cross section of property types from a duplex apartment to 2-5 bedroom homes already reserved off plan. Seven reservations, worth a total value of £1.79m, were made at the developer’s show home launch weekend in mid-August.
It brings the total number of properties reserved off plan to twenty-four, with a combined value of £6.25m, since they went on sale in Spring. Phase One comprises a total of 45 homes with property prices ranging from £225,000 to £400,000.
Renowned for designing sustainable, low-energy-high-quality homes and a commitment to building communities, Blueprint is an established niche developer in the sustainable residential regeneration market. It has won awards for its popular Green Street and Hobart & Pitcairn developments in the Meadows, Nottingham, which are built to promote low energy living.
Nick Ebbs, chief executive of Blueprint, said: “After the success of our Green Street and Hobart & Pitcairn developments, we were confident there would be a healthy demand for this type of sustainable development because of the value of our proposition. We are well ahead of our predicted level of sales.
“The city has long aspired to regenerate the Nottingham Waterside area. The vision to transform this largely unloved and underutilised area into an exciting new urban quarter was conceived some 15 years ago but progress was stalled by the 2007 recession. Working with Nottingham City Council, Trent Basin will now help transform the area into an exciting new neighbourhood and a catalyst for wider regeneration plans.”
Blueprint plans to develop 500 homes as part of the 250-acre Waterside regeneration area. The development is a new chapter in the history of Nottingham, and celebrates the industrial heritage of the area by embracing the Old Trent Lane Dock which is a distinctive focal point off the River Trent.
Nick Ebbs added: “Having talked to potential buyers at the show home launch there were four common areas of discussion; the uniqueness of the waterside location, the originality of the development’s design, our commitment to sustainability and the cautious optimism in the property market. These four factors have had a positive impact on sales.
“We are confident the rest of Phase One will prove popular and expect Phase One to be sold by the end of the year. Phase Two is in the final stages of design and will offer a further 13 apartments and 28 houses with direct frontage to the river. Design is also progressing at pace on subsequent phases with a wider mix of housing types including custom build.”
Blueprint is an innovative development partnership which unites the public and private sectors to unlock opportunities for growth. Blueprint’s investors are Aviva’s Igloo Regeneration Fund and Nottingham City Council.