For those looking to take advantage of current property prices and invest in a buy-to-let property, buying with friends or family can make the process more affordable, and it can be beneficial to share expertise and the responsibility with other people. One group of friends have definitely seen the benefits of buy-to-let investments after they went into business together buying their first property at Crest Nicholson’s Kings Warren development in Red Lodge, Suffolk four years ago. The return on their investment, coupled with never having a problem renting out their properties, has meant that the foursome have just completed on their fifth buy-to-let property, this time on the Larks Reach phase of the scheme.
Eric Stone, his wife Jill, and their friends Andy Oakenfull and Debbie Starkey decided to start JADE developments over a drink in their garden one summers evening. The project started with refurbishing a few properties, which gave them enough money to purchase their first buy-to-let property at Kings Warren four years ago. The company now has five properties at the development and plans to add more to its portfolio in the future.
Eric comments: “We decided to invest in property a few years ago and heard about Kings Warren through a financial advisor I went to for help. We have a really great working relationship with Lesley, the sales advisor at Larks Reach, who has helped us buy all of our properties at Kings Warren over the years. The development is ideal for first time investors like ourselves, because it looks great, has lots of different styles of property available, and is good value for money. The proposed additions of a supermarket and school will also really help add value to our properties and we certainly see Larks Reach as a solid investment, otherwise we wouldn’t have bought so many properties here.”
Eric continues: “We have never had any trouble letting our properties out at the development. Our tenants really appreciate the build quality of the homes and the great location of the development, which is ideal for getting to London, Stansted Airport, Cambridge and Bury St Edmunds, all the while being in such a lovely part of the countryside.”
Toby Greenhow Associate Director at Savills, Cambridge comments, “The reason that investors are attracted to Kings Warren is clear – there is a very strong lettings market in the Red Lodge area that you usually wouldn’t associate with rural Suffolk. This is because nearby are two large American airbases which have a large turnover of personnel, most of which receive an ‘allowance’ to find a home in the private rental sector. The homes at Larks Reach, Kings Warren are perfect investments as new build properties offer what these renters want; clean, tidy and readily available homes, this makes a landlord at Kings Warren a very good source of income.”
Larks Reach is a stylish collection of three and four bedroom houses and two bedroom apartments. Kings Warren has been carefully master-planned to create a fully integrated community that is perfectly situated to enjoy the best of both town and country living, with a range of first class local facilities. Along with 1,250 new homes, when complete the development will also feature a well-equipped sports complex that will include three standard football pitches, as well as a cricket pitch complete with pavilion and changing rooms.
Annette Cole, Sales and Marketing Director at Crest Nicholson Eastern comments: “Larks reach as with Kings Warren as a whole has been the perfect investment option for Eric and his partners at JADE developments; the varied selection of properties means that there is always something on offer for renters and buyers alike. The setting of the development so close to the local towns and city of Cambridge, and the proposed plans for on site amenities means that buyers really do get the best of town and country living.”
As well as offering a peaceful rural setting, an excellent road and rail infrastructure close by means that Kings Warren residents are well connected. Newmarket is less than 15 minutes’ drive along the A11. Kennet Station is located just three miles away and provides frequent and direct rail links to Cambridge in just 30 minutes, where trains run directly to London Kings Cross station in just under an hour. Alternatively, Cambridge city centre is just 18 miles by road and there is also easy access to the A11 and nearby A14.
Prices at Larks Reach start at £120,000 for a two bedroom apartment, £185,000 for a three bedroom house and £203,500 for a four bedroom home . For more information on Larks Reach please call the Sales and Marketing Suite on 0870 755 1632 or visit www.crestnicholson.com/kingswarren.