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2 housing developments currently under construction in Dunstable

15/9/2015

2 Comments

 
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I recently highlighted that a planning application had been made for a large derelict site in Dunstable highlighting how much more confidence there is with businesses like Amazon and Housing Developers investing in the town.

One of our landlords popped into our shop a few days after publishing the article and passed a comment that he didn’t think that the site would be developed. I also had the same response when I published the article on the Dunstable and Houghton Regis Property Group  and Network Luton LinkedIn pages.

I know from recent meetings I have attended with local business owners and the Town Mayor that there is now a very positive feeling in Dunstable and I constantly walk around the town and drive around the surrounding area looking for changes taking place.

Here is information about 2 new housing developments currently being built which many people might have missed. They both enforce my opinion that Dunstable is a growing and greatly improving town, attracting investment from businesses, developers and property investors. Many people just haven’t opened their eyes to it yet.

The Ridgeway – Barratt Homes

This development is to be found to the North of Dunstable at the far end of French’s Avenue.

Here is the description from Barratt Homes:

Here you will find a selection of 2 bed apartments and 3 & 4 bedroom Homes currently under construction.
Located at the foothills of the Chilterns. This family-friendly development has plenty of open landscaped green spaces. 30 miles north of London, it’s ideal for commuters with plenty of road connections including a new direct link to the M1 opening in 2017. 2 bedroom apartments will be available later this year.
  • Just 1.3 miles from the town centre
  • Reach King’s Cross St Pancras in 23 minutes
  • Surrounded by historic countryside

Kaleidoscope – Linden Homes
I must admit that this was one I could easily have missed. Located behind the new impressive Central Bedfordshire College building on College Drive, this development could easily have been mistaken for part of the same building site.

Here is the description from Linden Homes:
Award winning Linden Homes are delighted to announce that planning permission has been secured for an exciting new development of 109 homes in the Bedfordshire market town of Dunstable. The development will be named Kaleidoscope and will offer a mix of 2 bedroom apartments, 2 bedroom coach houses, 3 and 4 bedroom homes in terraced and semi-detached styles.

Both of these developments prove the faith the house builders have in Dunstable and why I am sure the development currently in for planning I mentioned previously will start next year.

There is a huge demand for 2 bedroom properties in Dunstable and with the availability of such on both these sites there is also the potential for landlords new or experienced looking for their next investment.
2 Comments
Louise O
20/3/2017 06:53:57 pm

This is one I wish I HAD missed. We bought one of these 'homes' from Galliford Try t/a Linden Homes and seriously regret doing so. They sold us our 3 bed house on the basis that it was LEASEHOLD. When we asked why we were told the College owned the land and didn't want to sell it. The house was advertised with 2 parking spaces, we got one. When asked why we were told 'the college won't allow us to give you 2 spaces'. This all started back in April 2016. We completed September 2016. In January 2017 I found out Linden Homes had owned the land since May 2015! They had lied and forgot to mention escalating ground rent increases too. So wrong #leaseholdscandal We own nothing apart from time in a house that we don't own and can't live comfortably in. Planning regs say we should have 2 allocated spaces - Linden are seemingly breaching regulations there. We probably won't be able to afford to live in our 'rented' first home in the future.

Reply
Daniel Bourke
21/3/2017 08:31:59 am

Hello Lisa
When Linden Homes held their launch at Grove Theatre I was one of the first to attend as I wanted to know what the prices were in case any investors I knew would be interested in buying. i was first shocked by the asking (starting) price of the apartments which were way above the current pricing in the area and then even more surprised when they said they wanted bids in an envelope by Monday lunchtime. This was Friday evening.
Looking through the information for the houses I then queried the fact they were shown as leasehold not freehold. It was a very long lease I can't remember how long but not something I would suggest anyone to buy into and seems to be a bit of a growing trend amongst house builders. Ground rent in leases can have strange calculations making it difficult to calculate how much it will increase and often now set in the lease every 5 or 10 years. Some double every 5 or 10 years ! When selling your property the buyers solicitor who should spot this might not look upon it favourably.
I can only guess that the reason for this is added value to the freehold of the site when the housebuilder decides to sell it.
I do believe ground rents are being investigated at the moment but these ground rent clauses do need to be properly understood by buyers in new developments.

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    Daniel Bourke is the owner of Belvoir Lettings Dunstable and in his previous career in Architecture he was an Associate in a leading London Architectural practice

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