CBRE markets unique London project with townhouses
CBRE markets unique London project with townhouses
April 15, 2015
Singapore, 16 April 2015
Barratt London has unveiled its first scheme of 2015 with the launch of Putney Rise on Westleigh Avenue, SW15. Located near the top of Putney Hill offering picturesque views across West London towards the City, the low-rise development is set back from the road and is made up of 125 one, two and three-bedroom apartments and 30 three and four-bedroom townhouses with private gardens and parking.
The first units now released are a selection of one, two and three-bedroom apartments in Skylark Court with prices starting from £510,000 and a selection of 3 and 4 bedroom townhouses starting from under £1 million.
Most of the apartments and all townhouses boast private outdoor space, and Putney Rise is less than a five-minute walk from 400-acre Putney Heath, which leads onto the world-famous Wimbledon Common. The development also neighbours Manor Fields, the third-largest private garden in London. Its proximity to some of the Capital’s best open spaces is perfect for residents with children, for those who enjoy nature and exercise outdoors.
Sarah Nicholson, Director, International Project Marketing, Singapore said “It is a rare opportunity to have new townhouses, similar to Singapore cluster houses, in a London project launch in Singapore, but those that have launched here in the past have sold well and have gone on to find tenants easily. It is an investment option that should not be overlooked by investors who have traditionally invested in the apartment market, as tenants who rent houses typically rent for longer periods compared to apartment tenants, resulting in fewer turnover of tenants and thus less cost. Less void periods for landlords means higher yields. The development has excellent exit strategy potential, both for the apartments and houses, as the location is very popular with local buyers with property values which have historically remained comparatively resilient.”
Putney is a prime residential area of London which is popular with young professional British families because of the proximity to excellent schools (e.g. Putney High- frequently highly ranked in London league tables), parks (Putney Heath, Richmond Park and Bishop Park), the River and numerous cafes, restaurants and shops. Transport for London has graded Putney in the top category for accessibility by public transport due to the mainline station, 2 underground stations, 15 bus services and river taxi. In addition to this all apartments and houses come with free car parking spaces which is a very unusual feature for London developments.
Putney Rise’s architecture takes its cues from the bold aesthetics of the listed Ark Academy next door and the neighbouring art deco Manor Fields. The low-rise development is set in thoughtfully-planned landscaped grounds that will retain the existing mature trees and planting. The communal spaces will include a Woodland Garden with a grassed area, seating and play equipment.
The development is well served by bus. It is a 15-minute walk or short bus ride away from Putney Railway Station, providing access to the City in 20 minutes. East Putney Underground Station, which is on the District Line is also nearby. Putney Rise will also include an on-site car club that will initially offer free membership for residents and dedicated cycle parking.
Each apartment incorporates modern comforts from a video entry system to fitted wardrobes in the master bedrooms. The Nobila kitchen features silestone worktops and is equipped with a stainless steel oven and induction hob, integrated fridge freezer and dishwasher. Bathrooms are modern and sleek with full height ceramic wall tiling and a Grotherm two-way thermostatic bath and shower.
Putney Rise is situated on land formerly owned by the ARK Putney Academy and the sale has enabled the co-educational secondary school’s facilities to be refurbished and upgraded as part of a £40m development program. Founded in 1904, the main buildings that house the Academy are Grade II listed and have been deemed as an architecturally important example of a 1950s school.
As well as the ARK Putney Academy, the development is close to several good schools including one of the UK’s leading independent girls’ schools, Putney High School, which is just a 10-minute walk away. Prospect House, a non-selective independent primary school that is well-known for its excellent academic results, is also a short 8-minute walk away.
Gary Patrick, Regional Sales Director at Barratt London, said: “Putney is one of London’s most established and desirable villages. It’s a fantastic location for people wanting to live and work in the Capital. Transport links make it close enough to access London’s main business and social hubs easily, yet Putney’s wealth of parks and green space means that it has a calmer feel than many other London neighbourhoods. We have made sure that Putney Rise is competitively priced. As one of the only new build developments in the area, we expect Putney Rise to prove popular with people seeking a low maintenance home in a peaceful green location but who don’t want to move out of London.”
Launch event prices start at £510,000 and first completions are expected in April 2016.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.