75% Sold At Whitby Development
Caedmon Homes has reported that three-quarters of its Spa Well Court scheme in Whitby has now been sold, partly as a result of the ‘staycation’ boom resulting from lockdown holiday restrictions.
Situated off Broomfield Terrace in the popular tourist report, the development comprises 10 two-bedroom apartments and 10 three- and four-bedroom townhouses. The architecture has been inspired by the local vernacular architecture and the town’s maritime history.
Nick Henderson, founder and managing director of Hendersons Estate Agents, commented: “Once upon a time, Whitby was regarded as one of the least desirable towns in Yorkshire, a run-down, neglected unemployment blackspot.
“Its recent renaissance is absolutely remarkable, with investment pouring in and the town centre a sparkling mix of great restaurants, unique independent retailers and a wonderful sense of atmosphere and history.
“The yields on the remaining five properties at Spa Well Court are exceptional. Based on an annual rental, the return would be 8.94%, or £22k. The four-year yield would increase to 12.1%. As Whitby’s popularity increases, so would these yields.
“The fact that 75% of Spa Well Court has been sold is a resounding endorsement of the development. There are only five houses left, so would-be purchasers are advised to hurry. Now that the development is complete, it’s a prime time to invest.”
Prices for the remaining homes at Spa Well Court start from £310,000.
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