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Fletton Quays, East Station Road, Peterborough, Cambridgeshire, PE2 8AG

Developer: Weston Homes

Estimated completion date: Block F October 2018-June 2019, Block G June 2019-December 2019 

Units: 229 in this phase; total 358

Price: Approximately £290psf  

Pricing

1 beds from £172,000 - £200,000

2 beds from £205,000 - £270,000

3 beds from £287,500 - £310,000 

Overview

Amenities: Hotel, shops and a restaurant on site.

Transport: Peterborough Station is a 12 minute walk (6 minute drive) from the site, with direct access to Central London (King’s Cross) in 50 minutes

Parking: 1 x space included with all units, 2 x spaces included with duplex units

Estimated service charge: £2.00 per sq ft

Ground rent:  

1 bed £300 p/a

2 bed £350 p/a

3 bed £400 p/a 

Lease: 999 years 

Key selling points

  1. 50 minutes direct on the train into King’s Cross – affordable commuter belt location
  2. Best in class development in the area, located moments from the town centre on the River Nene
  3. Lack of supply of property in the area
  4. Very strong rental yields, with low service charge protecting the net yield
  5. Fletton Quays is a river bank regeneration area for Peterborough, with new shops, restaurants and a hotel
  6. Government has just announced plans for a technology growth corridor in the region with neighbouring Cambridge, Milton Keynes and Oxford
  7. According to Knight Frank Research the area is anticipated to achieve stronger capital growth yields than London over the next 5 years.
  8. Amazing river/Cathedral views available
  9. Beautiful countryside nearby
  10. Located next to some of England’s best schools 

Payment terms

A non-refundable reservation fee of £1,000

5% of purchase price payable on exchange of contracts within 21 days (less the reservation fee)

5% due 6 months after exchange

The remaining 90% due upon completion

One assignment permitted at any time after the first 5% has been paid 

Solicitors

Purchaser solicitor: Scott Fowler

Legal fee contribution: £1,000

Vendor’s solicitor: Nockolds LLP 

Peterborough

Peterborough is a cathedral city located in Cambridgeshire with an abundance of parks and excellent schools nearby, and a desirable and affordable location for young professionals commuting into London. It is the fastest growing local authority in the east of England, according to official figures. In excess of 7500 people migrated there in 2016, of which more than 40 percent were between the ages of 20 and 34. The city’s population is forecast to grow by 23% to more than 240,000 by 2036. 

Now Peterborough is an important stop on the East Coast railway line connecting London and Edinburgh. It is within easy reach of York, Cambridge and Birmingham. Four major airports – London Stansted, London Luton, East Midlands and Birmingham International are all less than 90 minute drive away.

Peterborough is primed to benefit from the U.K. government’s plan to create an “Eastern Powerhouse” by devolving power to the region. In March 2017 the Cambridgeshire and Peterborough Combined Authority was formed and became one of the first areas in the UK outside London to elect a mayor. As part of a devolution deal with the government, the combined authority will receive £770 million of new funding for local infrastructure and housing.

In November 2017, as part of a government bid to nurture innovative industries in the region, the Chancellor of the Exchequer Philip Hammond revealed plans for a “growth corridor” akin to California’s Silicon Valley across nearby Cambridge, Milton Keynes and Oxford (please see the link below). The government has asked the Cambridgeshire and Peterborough Combined Authority to develop an ambitious Local Industrial Strategy to support the area’s world-class science and innovation businesses. Ministers are working on a series of sector deals with the life sciences, construction and artificial intelligence sectors to support their growth in the corridor.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/661401/Helping_the_Cambridge_Milton_Keynes_Oxford_corridor_reach_its_potential_digicomms.pdf

Fletton Quays

Weston Homes at Fletton Quays offers a modern collection of one, two and three bedroom apartments in this ‘best in class’ riverside development. This multimillion pound redevelopment of Peterborough’s South Bank offers high quality new homes, a luxury hotel and sky bar, restaurants, shops and offices. Fletton Quays is set to become the most desirable and central Riverside destination in the city. 

The local area has received hundreds of millions of pounds in government investment to build ever closer links with Cambridge and with the government’s technology growth corridor. The city has an abundance of parks and beautiful countryside nearby, two shopping centres, a Waitrose supermarket and riverside path; all within walking distance. The area is also very well renowned for having some of the best schools in England located nearby. 

The development is well served by rail and road links, with fast connections to Cambridge and a direct train line in to King’s Cross in Central London. A new Thameslink connection in 2018 will also link the city with Gatwick and Luton Airports as well as St Pancras International rail station. Given these excellent transport connections Peterborough is the ideal and affordable home for many young professionals commuting in to London. 

The apartments will be finished to Weston Homes’ exacting high standards and come with a choice of fixtures and fittings to personalise the space to suit the buyer’s requirements. 

Fletton Quays has been designed to have a positive and long-lasting impact on the city-centre and Peterborough more widely, attracting new businesses and residents to the area, boosting the economy and contributing to an improved environment for all to enjoy.

For further information on Fletton Quays, please contact Dominic Heaton-Watson.


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