Estate agents in Leamington are hailing the town’s “thriving” property market after a new development of luxury apartments sold out within hours of being put on the market.
Property agent ehB Residential sold all of the apartments at the new Park House development in Avenue Road in the first four hours of its open weekend.
The apartments were priced between £195,000 and £380,000 and were all snapped up by private buyers.
Edward Bromwich, of ehB, said that the high specification and the attention to detail on every aspect resulted in the development being extremely successful.
He said: “We have been working in partnership with Space GK managing director Gary Kedgley and his team since the start of the project.
“They have not only created eight high-quality apartments, but they have also put a lot of work into restoring the building’s architectural character.
“This has been achieved by looking at old photographs to return the building to its former self while ensuring it complements other buildings in Avenue Road.
“The developer has combined the very high specification and attention to detail throughout, considering what features are important to potential purchasers such as built-in appliances to increase worktop space and basement storage.
“Leamington Spa has a thriving property market, with a particular demand for high-quality homes, and this was demonstrated by the ability to sell all of the apartments in such a short space of time.”
These sentiments regarding Leamington’s property market - specifically when considering new builds, were echoed by Paul Petticrew, associate listings manager at Newmans in Leamington, who said: “Higher-end properties in Leamington are very popular with those valued at more than £500,000 often getting multiple bids and going for over the asking price quite dramatically in some cases.
“Overall transactions are down in terms of house listings being down year on year and there is a lot of competition for new buyers so a lot of people are going for new builds.”
The scheme, developed by Warwick firm Space GK, comprises of eight one and two-bedroom apartments, including two duplexes and one rooftop penthouse.
Gary Kedgley, director of Space GK, said: “Leamington is a highly sought after location, and the high specification of the apartments combined with the expertise of ehB Residential led to all eight apartments being sold in a very short time.”