Here come the Londoners
Bath Riverside becomes focus for London and Home Counties buyers.
The £400 million Bath Riverside development has become the focus of interest from London buyers, according to a local estate agent.
The local agent for the scheme by Crest Nicholson, which is creating a collection of new homes on Bath’s western riverfront, said 2015 had seen a noticeable increase in buyers from outside the local area.
Charles Everritt, head of residential sales at Crisp Cowley, said: “There has been a growing trend this year of greater numbers of buyers relocating from London and the Home Counties to Bath.
“This has been helped by the market in London cooling slightly. Although this is probably for only a short period, the result is movers feel they will not be losing out.”
Mr Everritt added that those moving to Bath from London and the surrounding area tended to be attracted by the fact that they could enjoy the benefits of city living while releasing income from their present homes.
“We feel that Bath continues to draw significant interest from lifestyle movers wishing to relocate to a city which has a huge amount to offer,” he said.
“A good proportion of buyers who would be classified as downsizers, and releasing equity between London prices and Bath seems to be very much a trend.
“In addition to this the perception of Bath prices from these buyers is that there is value in the market. We have found the age group of 50 to 70 year olds is still a very active group looking to buy in Bath.”
His views were echoed by Susan Young, sales and marketing director at Crest Nicholson, who said: “Riverside living is all about lifestyle. The majority of buyers have come from the Bath area, but a growing number of people from London who see Bath as an attractive alternative for city living.
“The fact that Bath has direct rail links to the capital is also undoubtedly an attraction, and we expect this factor to become even more significant once the electrification of the railway line has been completed, and travellers can enjoy shorter journey times and longer trains.”
Work at Bath Riverside has resulted in the dramatic transformation of a derelict industrial site into an area that is providing property purchasers with a 21st century alternative to Bath’s Georgian properties.
It features a mix of property styles, types and sizes, has attracted buyers including first timers, downsizers and professional couples.
The most recent phase to be released features a selection of townhouse properties split over a number of very distinctive phases.
A number of three and four-bedroom, four-storey townhouses on Longmead Terrace provide a contemporary take on the classic Bath terraces, while an exclusive phase called Albert Crescent comprises a limited number of waterside townhouses and villas.
For further information please call 01225 463 517 or visit www.crestnicholson.com/bathriverside