cambridge property edition july

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DREAM HOME

BOOMTOWNBULLETIN

BUYING TO LET

AN EXPERT GUIDE

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WELCOME

Property Edition | July 2014 | 3SIGN UP TO THE EDIT NEWSLETTER AT CAMBSEDITION.CO.UK

ith the arrival of long, balmy evenings (with any luck), most of us will be fi nding ourselves drawn more and more to the

greenest ‘room’ in the house – our gardens. Nothing announces the arrival of summer

like throwing open the patio doors and having breakfast al fresco, spending an hour or two pottering around in the rose beds or hosting the fi rst barbeque of the year. If decent outdoor space is high on your must-have list, take a look at the properties we’ve gathered on page 11, which are all ideal for green-fi ngered house-hunters.

The trend for downsizing continues as couples or individuals approaching retirement consider trading in the family home for

something smaller and more suited to their needs. This is good news for the next generation of families, who still face a housing shortage across the UK. On page 10, estate agents at Strutt & Parker share their thoughts and advice.

Another growing market is the buy to let market – something Cambridge has always lent itself very well to indeed, with its steady fl ow of students and professionals coming into the city. Christopher Toynbee of CTP Property knows the local market inside out, and shares his expertise on page 12 in the fi rst part of our buy to let guide.

As ever, we’ve kept a keen eye on what’s going on in the new homes market: details of which you’ll fi nd on page 18.

WELCOME TOPROPERTY EDITION

COVER STARHaving visited last month we can say, from personal experience, that The Mansions at Aura are truly spectacular additions to Cambridge's luxury residential landscape. These are homes anyone would dream of living in, with their well thought-out interiors, enviable garden terraces and mature wooded setting. Prices for The Mansions start at £1,395,000.www.auracambridge.co.uk

JENNIFER SHELTON, FEATURES EDITOR [email protected] 01223 499463

For commercial enquiries relating to Property Edition, contact Claire McGrath on 01223 499450.

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PROPERTY

Edition takes a look at the latest happenings in the buzzing local property market

WORDS NICOLA FOLEY & JENNIFER SHELTON

PROPERTY NEWS

For horse lovers, little beats the joy of having your equine pals around all day every day, but stepping up the equestrian property ladder can be daunting. The key to buying an equestrian home that will make a safe long-term investment is to fi nd a good-quality property, preferably one that has appeal for a residential buyer too.

There’s a number of reasons for moving into the equestrian market. The lifestyle, the future returns and the savings you can make on livery fees, plus the long-term value of an equestrian property can be more solid than most. It is important to remember, though, that the value of the property is not only based on the home, but also on the quality of the outdoor facilities.

Prospective purchasers of equestrian property usually fi t into one of three categories. Many people are looking to

move to a rural area and are considering livery for the family pony. In these cases, equestrian facilities are less important than other facilities.

The serious amateurs or enthusiasts often consider su� cient land for grazing and stabling to be a priority. The fi nal group of buyers are professionals with specifi c needs, such as the ability to run a business from the premises or sta� accommodation. In this case, access for horse transport is also a consideration.

Purchasers need to consider the sort of riding they are likely to be doing. It is also important to look into planning permission and ensure all the necessary permissions for stables and the like are in place. If you are intending to add buildings or run a business, check with the local planning authority fi rst.

Equestrian property specialists generally advise that the best equestrian properties

HORSES FOR COURSESGavin Human of Fine & Country Cambridge tells us about equestrian properties

should o� er fi ve to 20 acres of level, secure land, close to a source of running water. The amount and quality of land can be the defi ning factor behind the property’s valuation. Analyse whether the paddocks and pastures have shade and drainage and how close they are to main roads.

Outbuildings are also important considerations. Check for su� cient stabling, tack storage, and whether there are any outbuildings that are ripe for conversion, if your budget allows for this.

Finally, think about the potential resale value of the property, especially if this is your fi rst equestrian property. Your needs may change in the future, so ensure your property will allow for expansion, or will o� er good returns, making it a solid long-term investment.www.fi neandcountry.com

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10 | Property Edition | July 2014 SIGN UP TO THE EDIT NEWSLETTER AT CAMBSEDITION.CO.UK

PROPERTY

DREAM HOME:QUEEN EDITH’S WAY A highly desirable property has come onto the market in Queen Edith’s Way, Cambridge, o� ering spacious interiors, beautiful gardens and a convenient location.

The house stands within a large, well-kept garden on the favoured south side of the city, close to Addenbrooke’s, the railway station and Cambridge’s best schools. Inside, the accommodation includes fi ve bedrooms (one en-suite), a light, spacious kitchen, two reception rooms, conservatory and study, plus a car port and garage.

This exceptional Cambridge property has a guide price of £1.35 million. For further details or to arrange a viewing, contact Savills, 01223 347147.www.savills.com

The trend for downsizing is on the increase and set to continue over the next few years, according to latest fi gures. Strutt & Parker’s recent Housing Futures survey indicates that 52 per cent of homeowners aged between 70 and 79 are considering moving to a smaller house in the next fi ve years. It’s a similar story for 39 per cent of homeowners between 60 and 69, and 22 per cent of 50 to 59 year olds.

“There is no doubt that downsizing is a consistent trend,” says Stephanie McMahon, head of research at Strutt & Parker. “72 per cent of the people we surveyed are planning on moving in the next fi ve years. The UK has a housing shortage, however, we are also a nation of under-occupiers and the move towards smaller homes will stay constant or increase over the coming years as the large group of UK baby boomers move into retirement and beyond.”

According to Prudential, there are over two million downsizers who fi t into the over 55s baby boomers category, often with grown-up children, owning properties worth in excess of £750,000. Rightmove has similarly profi led this generation as equity rich and cash poor, often looking to help family members by freeing up funds.

James Mackenzie, head of the Country House Department at Strutt & Parker, comments: “With the UK economic confi dence returning, downsizers are sensing now is a good time to sell after years of hesitating during the recession. Many are ‘My-Sizers’ – those moving house to better suit their evolving needs both in terms of space and fi nance.”

This fresh stream of property for sale created by downsizers could ease current housing pressures by increasing supply and restricting further house price rises. With average property asking prices remaining static between May and April, this trend may already be in motion.

Cameron Ewer, partner at Strutt & Parker’s Cambridge O� ce, fl ags up a property which may be of interest: “16 Coppice Avenue, Great Shelford (pictured above) is a downsizer’s property that would make an ideal home for a young growing family. It is for sale for £1.3 million and comes with fi ve bedrooms and three reception rooms.”www.struttandparker.com

THE DOWNSIZER’S KEY TO THE PROPERTY MARKET



PROPERTY

HIGH STREET, CROYDONA charming Victorian property in the South Cambridgeshire village of Croydon has come onto the market with Briggs & Mortimer. Deceptively spacious, the property provides a living room, study, dining room, modern kitchen, utility room, breakfast room, four fi rst-fl oor bedrooms (with an en-suite to the master) and a stunning, refurbished family bathroom.

The beautiful gardens comprise a patio area, mature trees and large lawn with a secluded seating area to the rear. The guide price is £425,000, call 01763 242626 to view.www.briggsandmortimer.co.uk

HILDERSHAMSet within half an acre of land, this modern family home is in Hildersham, near picturesque Linton. The house sits in the middle of its well-kept lawned gardens, which are surrounded by mature trees to ensure privacy and seclusion. Inside, you will fi nd a spacious living/dining room with fi replace, a light and airy kitchen/breakfast room with lovely garden views, three bedrooms and a bathroom, plus a double garage.

The property is for sale through Strutt & Parker; guide price £550,000.www.struttandparker.com

SHUDY CAMPSA home with plenty going for it, both inside and out, is this modern cottage in rural Shudy Camps. Situated in a quiet location, with rambling roses around the front door, the property is an idyllic countryside retreat. Inside, a spacious reception hall leads on to the dining room, study, large, sunny living room, kitchen/breakfast room and separate utility room. Upstairs there are three bedrooms and a bathroom, plus an en-suite to the master bedroom.

The gardens make a wonderful addition and have been lovingly designed by the owners. A lawn fringed by a variety of plants and fl owers sweeps down to a delightful natural pond, currently home to ducks, newts and dragonfl ies. A double garage and driveway complete the package.

This property has a guide price of £439,950. To view, contact Fine & Country on 01223 363700.www.fi neandcountry.co.uk

LINTON ROAD, HADSTOCK Elegance, tradition and a beautiful garden are just some of the features of this superb village home in Linton Road, Hadstock. The Grade II listed property stands in grounds of around 1.83 acres, just ten miles from Cambridge. It comprises an entrance hall, dining room with open fi replace, living room with stairs to the cellar, a recently refi tted kitchen/breakfast room, study and utility room. There are four bedrooms upstairs, together with a large bathroom and en-suite shower room, plus a garage and workshop.

The guide price is £850,000. For further details or to view, contact Carter Jonas on 01223 855671.www.carterjonas.co.uk

LINTON ROAD, HADSTOCK

HOMES WITH GREAT GARDENS

PROPERTY



PROPERTY

Buy to let is an increasingly popular venture, especially in Cambridge, with its consistent supply of students and professionals wanting city centre properties. It can prove a lucrative investment, but there are also pitfalls to avoid and factors to consider before taking the plunge.

Christopher Toynbee is the owner and founder of CTP Property, a boutique property company specialising in residential property management. He bought his fi rst property in 2007 – a cottage in need of some love and attention, in Swavesey – and is now the owner of an extensive portfolio of residential property in the area.

WHERE TO START?“The fi rst question to ask is why you’re buying – is it just a numbers game, or is it with a view to having you or a family member move into it at a later date? The house style will di� er depending on what you want out of it,” says Christopher.

With interest rates at a historic low and stock markets volatile, bricks and mortar is once again becoming an attractive alternative for those wanting to reap a decent return on any extra cash.

“It’s defi nitely better than putting money in the bank,” Christopher agrees. “The cash-on-cash return, the money that you get back, can be into double digits.

There’s nothing wrong with getting into it to make money: it doesn’t mean your interests are di� erently aligned to tenants’. The best tenant for a landlord is someone who stays for a long time and pays consistently, and the best way to attract that ideal tenant is to provide quality accommodation. The days are gone now that you could get away with a poor quality house and still attract tenants, and quite rightly so.”

WHAT TO LOOK FOR IN A PROPERTY“Location is defi nitely key, and knowing the kind of tenant you’re aiming for,” advises Christopher. “If you’re buying for students you don’t want somewhere that’s too far out, for example.”

The layout is a major factor and will a� ect, almost more than anything, what kind of tenant the property appeals to. For example, says Christopher, a downstairs reception room which has been turned into a bedroom may be preferable for students, but a family will most likely want the extra living space. Likewise, “families wouldn’t want a downstairs bathroom o� the kitchen, but students don’t mind that. So be sure of what kind of tenant you’re looking for, and what they want.”

He continues: “Also look for houses you can add value to, through refurbishment, an extension or going up into the loft. A run-down house in a good area can be a really great opportunity.”

He concludes: “Cambridge is always going to be a strong place to buy and an easy place to let because of the demand from students, professionals and families to live in the centre.”www.ctpproperty.co.uk

PART #1: GETTING STARTED

Christopher Toynbee



ADVERTISEMENT FEATURE

For the fi fth year running, Barratt Developments has been awarded the Home Builders Federation (HBF) 5 Star Home Builder status. HBF is the voice of the home building industry in England and Wales, and its members deliver around 80 per cent of the new homes built in the UK each year.

The award is also proof that Barratt provides the best for local homeowners, as the recommendation comes from their own customers: 90% of whom awarded them fi ve stars for customer satisfaction.

An exquisite collection of high-specifi cation new homes have just been released at The Grange, the new phase of houses on Trumpington Meadows in Cambridge. These fantastic family homes each boast fi ve bedrooms, with double garages to most plots. Prices start from £769,950, while a further phase of three-to fi ve-bedroom properties is coming soon. You’ll also benefi t from being part of the ‘Best Large Development’, as awarded by the Evening Standard at the Homes Awards 2014.

A brand new showroom is also open on the development, fi tted out with luxury kitchens and bathrooms, to give you a glimpse of what life at The Grange could be like.

A number of incentives are available through Barratt to help you own your dream home. If you have a house to sell, through part exchange, Barratt can o� er to buy it from you at a fair market value, allowing you to move swiftly into your new home. Or, homeowners and fi rst-time buyers alike can take advantage of the government-backed scheme Help to Buy, allowing you to move with just a fi ve per cent deposit – and you’ll still own 100 per cent of your property (this is not available on The Grange properties but will be available on the next phase).

Anyone choosing to make The Grange their home will benefi t from living in one of the best locations in one of the most sought-after cities in the UK. Cambridge o� ers not only culture and heritage but modern bars and entertainment, quality schooling together with excellent transport links, especially into London.

There’s no doubt that Cambridge is a top commuting destination, as increasingly more people are discovering. The railway station, located just a mile from The Grange, runs a regular service into London Kings Cross in just under 50 minutes,

Meanwhile, Trumpington itself o� ers a range of local amenities including a large

Waitrose, doctor’s surgery, church and village hall. Conservation is a big part of Trumpington Meadows, and a country park is being created in the heart of the scheme to allow local wildlife to fl ourish.

ON THE STREET WHERE YOU LIVE

For more information contact Barratt Homes on 0844 811 4888 or visit: www.barratthomes.co.uk

See website for full terms and conditions

BARRATTWINS AWARDWINS AWARD

EXCLUSIVE NEW PHASE AT TRUMPINGTON MEADOWS

01223 841 842

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PROPERTY


BOOMTOWN BULLETIN

WORDS JENNIFER SHELTON

� e latest from Cambridge’s new property developments

Strong demand at Countryside’s Novo development at Great Kneighton, Cambridge, has brought forward the early release of apartments and houses in the second phase. The development, situated to the south of the city, attributes much of its success to the range of new homes it o� ers, its parkland setting and transport links.

The second phase of the development comprises two-bedroom apartments and three- and four-bedroom houses, many of which overlook parkland and play areas, making them ideal for families. In addition, the last few remaining three- and four-bedroom houses are currently available in the fi rst phase, which will be ready to move into during the summer.

The four-bed Otium house design is an example of one of the superb family houses currently available. On the ground fl oor the property comprises a modern, well-equipped kitchen leading to an open-plan dining and family area, which overlooks the garden.

The spacious living room and master bedroom, complete with luxurious en-suite and dressing area, occupy the fi rst fl oor, both of which have access onto a private balcony. On the second fl oor, three further double bedrooms and a family bathroom can be found. The Otium is priced from £660,000 to include a gated car port.

The Novo development was the fi rst collection of new homes to be launched at Great Kneighton, set to benefi t

from a range of proposed new amenities including shops, community facilities, a 120-acre country park and schools.

Prices start at £340,000. For further information call 01223 842039 or visit the Novo website.

Alternatively, anyone looking for a six-bedroom property should pay a visit to

SUCCESS SPARKS NEW PHASE

Countryside’s new barn-style homes at Abode, also on Great Kneighton. Set down leafy lanes, the Drake house types are light and spacious. Ready to move into in autumn, they are priced at £900,000. Call 01223 846650.www.abodecambridge.co.ukwww.novocambridge.com

New homes at Novo, Cambridge

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PROPERTY


The spirit of Chelsea Flower Show can be found in Cambridge, at one of the city’s most exclusive new property developments.

Countryside Properties, who exhibited at the prestigious horticultural show in May this year, applies the same sense of style and flair to many of its outdoor spaces at Aura, situated on the south side of Cambridge. Owners of one of the four-bedroom townhouses on the development will find themselves enjoying an impressive landscaped garden and terrace, which extends from the master suite on the top floor and runs the width of the property. It features ‘living walls’ and various textures and colours, creating a 3D living artwork.

This taps in to Chelsea’s trend for vertical gardening – which is becoming increasingly

BRINGING THE CHELSEA FLOWER SHOW HOME DISCOVER AURA’S SECRET GARDENS

popular in inner cities where outside space is at a premium.

Tony Travers of Countryside comments: “Good landscape design and careful creation of green open spaces is something we are passionate about and we believe it is vital in setting the tone for a development. The terrace and garden of the Aura townhouse are beautifully designed to create a relaxing retreat. For the owner, it will be like having their own Chelsea Flower Show garden.”

Green open spaces are central to the design throughout the Aura development and extend far beyond the individual gardens. Its variety of apartments and houses are grouped around a series of shared gardens, linked together through

a network of pedestrian routes that are interwoven among the landscaping and tree-lined boulevards. Flanked by two mature woodland areas, Aura itself features green areas, which lead directly onto the wildlife corridor, providing uninterrupted views to the adjoining countryside.

At Aura, residents are within easy reach of Cambridge city centre, with convenient public transport links via the Cambridge Guided Bus route just moments away. Cambridge station is just 1.5 miles distance, offering fast and frequent links to London, while the M11 is only minutes away.

Prices for the houses at Aura start from £675,000. For further information contact 01223 656167.www.auracambridge.co.uk


PROPERTY


Artist Bedwyr Williams has been appointed to work at the University’s North West Cambridge Development with the University of Cambridge museums as part of the development’s public art programme.

Bedwyr, whose work is characterised by his unique humour and gentle self-depreciation, will produce a work of art which will mine the depths of the rich University museum collections whilst also engaging with the North West Cambridge Development, which will provide academic facilities and accommodation for both its sta� and post-grad students.

The fi nished work could encompass sculpture, painting or video, and will no doubt provide a talking point. His practice, sometimes considered obscure, has led to much critical acclaim; he represented Wales at

the Venice Biennale in 2005 and 2013, received the prestigious Paul Hamlyn Award for Artists in 2004 and has taken part in both group and solo exhibitions nationally and internationally.

Dr Liz Hide, University of Cambridge Museums o� cer, said: “We are delighted to have the opportunity to work with Bedwyr, who will work with all eight University museums and Cambridge University Botanic Garden to deliver something really special for our visitors. As public-facing areas of the University, the museums are already working with local communities and we are keen to see these relationships grow further, particularly on the North West Cambridge Development.

“This is a fantastic opportunity for local people and complements the substantial support we receive from Arts Council England for our Connecting Collections programme,” she says.

Joining Williams will be Aid & Abet (who will work with the Department of Land Economy) and Fernando García-Dory (working with the Centre for Sustainable Development in the Department of Engineering).

Bedwyr Williams commented: “Gaining access to one of Cambridge’s museums would be great, but being able to work with all eight is amazing.”

The Artist in Residence programme in place at the North West Cambridge Development will run throughout the development of the site, with three artists being appointed each year. The programme encourages collaborations between artists and University departments, which will result in a range of public activities including exhibitions, performances, installations, talks and workshops.www.nwcambridgeart.com

ARTISTS GET TO WORK ON NORTH WEST CAMBRIDGE

Bedwyr Williams, centre, in his fi lm Echt. Photograph courtesy of the artist/Glasgow International Festival


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