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Off-Plan Sales Success Of New Grand Cheltenham Apartments

Posted 23 December 2022 by Keith Osborne

Buyers and investors have already snapped up half the homes being created in the Regency-styled development, The Residence...

Property Consultancy LH1 Global has formally launched The Residence, a grand collection of 17 one- and two-bedroom apartments within a renovated Regency-style Grade II listed building in the heart of Cheltenham, reporting that half the units have already been snapped up off-plan in just two days by keen purchasers.

Priced from £194,500, the apartments at The Residence will provide a sense of grandeur, with the interiors paying homage to their traditional location, that is widely regarded as the ‘gateway to The Cotswolds’.

The Residence combines modern upgrades with original period features and will appeal to those looking for both style and substance in a restoration home. It is spaced across four townhouses: Berkeley House, Mayfair House, St George’s House, and St James’ House, comprising four two-bedroom apartments and 13 one-bedroom apartments. Each of the two-bedroom apartments include spacious private balconies, whilst a selection of the one-bedroom homes benefit from access to outside space.

The ResidenceRayna Hunter, CEO of LH1 Global, commented: “We have been delighted by the incredible off-plan sales at The Residence. The development is one of the best Regency renovations we have seen, so despite the recent challenges presented in the property market the response from buyers is not a complete surprise.

“The apartments provide fantastic investment potential, with the opportunity for short term serviced lets due to the town’s racing heritage with a busy schedule of events throughout the year. Also, the popularity of Cheltenham and its proximity to the Cotswolds and easy access to London provide the perfect conditions for consistent value growth.”

Pre-pandemic, the visitor economy in Cheltenham brought in more £200million into the town’s economy and with visitor numbers expected to total 2.5million by the end of 2022 there is clear evidence that the sheer number of people making a flying visit to the town will ensure demand for short lets remains high. Property prices have also increased by 58% in Cheltenham over the last 10 years, highlighting the strength of the local market.

The Residence enjoys a prominent position in the centre of Cheltenham, close to the Town Hall and within easy reach of the shopping districts of Regent Arcade and Brewery Quarter. The development is also within the catchment of the highly regarded St John’s Primary School, whilst the excellent independent schools St Edward’s and Berkhampstead are close by.

Prices at The Residence start from £194,500. Find out more at [email protected]

 

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