Toby Marden, senior development manager at Muse Developments, a partner in Bournemouth Development Company (BDC), tells us why Bournemouth is the place to be and why buyers needn’t be embarrassed about asking all the questions they need when purchasing a brand new home.
Can you tell us a bit about your role at Bournemouth Development Company?
BDC is a joint-venture between BCP Council and leading regeneration business, Muse Developments. My role covers two key areas. Firstly, I am responsible for taking our projects from an initial concept through to construction and completion, while ensuring that we deliver on the BCP Council’s Big Plan and Town Centre Vision. Secondly, I am also responsible for managing the day-to-day relationship with our partners, making sure that we are all working towards the same goals and delivering against the same, agreed objectives.
BDC launched West Cliff Mansions in Bournemouth last July, how have sales been since then?
We have been overwhelmed with the interest we have received since we launched last summer, and we now have just a limited number of two-bedroom apartments still remaining. What has been great is that the homes have appealed to such a wide range of buyers.
Do you think the pandemic played a part in people making lifestyle decisions about wanting a better work/life balance, including living close to the beach?
Absolutely! Bournemouth has always been a popular destination, but the pandemic has undoubtedly caused a lot of people to review their work life balance. With home working now so prevalent too, there are a lot of people who are no longer tied to living so close to their workplace. While we have sold to a range of buyers at West Cliff Mansions, we have definitely got some customers who were looking to relocate to an area that offered them a better quality of life. That said, we have also had lots of local buyers, keen to stay in the area, perhaps valuing now more than ever all that this coastal town has to offer.
Let’s also not forget that Bournemouth itself is one of the largest financial centres in the country, after London and Edinburgh, making it a great place for business. It has one of the fastest growing digital and creative economies as well as being home to two universities, so the town has a lot to offer in addition to the fantastic quality of life.
Have you had one particular demographic mainly buying the apartments or are they appealing to all different life stages?
The homes here have appealed to lots of different buyers. From downsizers through to first-time buyers, second-home buyers and those looking to relocate to the area for a better quality of life, we have a real mix of purchasers here. Having the government-backed Help to Buy scheme has been fantastic as it has meant that we have been able to assist more first-time buyers, onto the property ladder too.
Would the apartments make suitable buy-to-let purchases?
While investors are permitted to purchase here, our primary focus has always been to sell to owner-occupiers – and this is what we have done. We have actively only marketed to homeowners here because for us, it’s about creating a sense of community and giving local, first-time buyers the first opportunity to purchase.
West Cliff Mansions
And are you offering incentives to buyers looking to purchase one of the last remaining apartments?
Since we first launched, the interest we have had has been strong. We believe that our homes here offer great value for money, and they all include a high level of specification as standard, which our customers have appreciated. We have also had the government-backed Help to Buy scheme available at West Cliff Mansions, which has proved popular and has enabled first time buyers to take that initial step on the property ladder here.
For anybody unfamiliar with Bournemouth, what are the main things it has going for it, do you think?
The town’s superb, coastal location and its vibrant culture have to top the list for me. There is so much to do here and so much on offer – local events, markets, art exhibitions, independent restaurants, you are quite literally spoilt for choice. It is also a great place to work – with a fast-growing economy and some big-name employers in the town. Then, when you want to take a moment to yourself, you can simply stroll down to one of the picturesque beaches for a gentle stroll or a reviving dip. What more could you ask for?
Do you have new developments in the pipeline for this coming year?
As a partnership, we have a number of schemes, which we are currently investigating, so watch this space!
What would be your top tips to first time buyers considering purchasing a new build property?
It’s important to make sure you are comfortable with any purchase so make sure you ask lots of questions! Our sales teams are always there to help, and we mean it when we say, there are no silly questions. It’s also important to get yourself a good mortgage broker too, who will talk you through all the options available to you. We work with a recommended mortgage broker at West Cliff Mansions, who we have selected due to the high level of customer service they deliver and their knowledge of the new homes market. Our buyers are under no obligation to use them, but customer feedback has shown us that those who do, enjoy a positive experience.
And finally, how do you see the new homes market performing during 2022?
There is no doubt we face some challenging times ahead. However, I don’t think it’s all doom and gloom. Ultimately, we still have a lack of new homes and as an industry we are an innovative and a resilient bunch. We have already seen that the government is looking at a new scheme to assist first time buyers and I’m sure most housebuilders will be looking at ways in which they can assist home buyers onto the property ladder too.
At BDC, we believe that we have a role to play in delivering good value homes, while helping to make homeownership a reality for more people. As we develop our future schemes, we will continue to look at a variety of routes into homeownership for our purchasers, through models such as Shared Ownership and the government’s new First Homes scheme.
Find out more about West Cliff Mansions from BDC.
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