Member Article

Phase 1 of sustainable 93 apartment Ashford development sold in less than a month

• LH1 London marketing green scheme to global investor market • Phases 2 and 3 now available • House prices half that of London, office rent 73% lower • 6-minute walk from Ashford International train station • Opposite new £250m international film studios home to Netflix • Built by sustainable contractor using 100% recycled steel

The first phase of a sustainable residential scheme with a GDV in excess of £20m - New Town Apartments in Ashford, Kent - has sold in just four weeks.

Global master agent LH1 London were appointed as sales and distribution partner by developer Pascoe Homes, to bring to market the 93-apartment scheme which has state of the art eco-friendly features.

Phase one saw the release of 43 apartments and now LH1 London has moved on to phases two and three which will bring 50 apartments to market.

The location, green build ethic, 999-year leases and zero ground rent has driven the sale of phase one at speed - and phases two and three have attracted similar interest. The development benefits from Help to Buy which appeals to local owner/occupiers.

New Town Apartments, which is the largest project to date for Pascoe Homes with sustainable contractor partner New Ways, features one and two bed apartments each with a balcony/terrace and parking space.

Sustainability has been an integral part of the design and build from the outset, with New Ways using 100% recycled steel to construct the frame and using the ultra-sustainable Helical Piling method - which ensures a design life of 75 years compared to the traditional method of approximately 25 years.

Inside, the luxury development will have an Infra-Red heating system, which is powered by electric rather than fossil fuels and green interior features include sustainable kitchen designs.

A commuter town from London, Ashford continues to be a highly desirable location for property investors and New Town Apartments are in a premium location.

Just a six-minute walk from Ashford International station, with a train journey time of 37 minutes into central London and 1.5 hours to Paris, it’s a three-minute walk to the McArthurGlen Designer Outlet and opposite the new £250m Ashford International Film Studio, which will be home to Amazon, Netflix and HBO.

Benjamin Hunter, CEO of LH1 London, said: “This is a hugely impressive development and Pascoe Homes and New Ways Construction have delivered every step of the way. Their innovative, green approach to development has meant New Town Apartments has been exceptionally well received by our international investor audience - selling out in record time. We have had buyers from India, Hong Kong, Sweden, USA, UAE and more.

“The Ashford property market is a lucrative alternative to London, with more room for profit growth. The town is attracting inward investment into the business, retail and hospitality sectors and with its commuter time to London, eco credentials and sale values, we expect phase two and three to sell promptly. This is the first of many collaborations to come between Pascoe Homes, New Ways Construction and LH1 London.”

Joint managing directors of Pascoe Homes, Rich and Chris Pascoe, said: “Pascoe Homes provide modern and eco-friendly living, respecting the environment and creating sustainable homes for the future.

“With its unrivalled location in Ashford - which offers an abundance of social, cultural and leisure activities on your doorstep - and being built by respected sustainable builder New Ways, who use the latest technologies to create low carbon homes, New Town Apartments is a highly desirable place to call home.

“We chose a sales and distribution partner to present New Town on a global stage and LH1 London have exceeded expectations. It’s clear to see that they are regarded as the UK’s leading master agent for off market/off plan property as their distribution channels are exceptional. We are close to finalising our next project together and forging a partnership for years to come.”

Construction of New Town Apartments is due to complete in early 2022.

LH1 London is the UKs leading global master agent of off plan, off market property and work on a range of developments in major cities throughout the UK including Birmingham, Manchester, Leeds, Liverpool, Luton, and London commutable regions.

This was posted in Bdaily's Members' News section by Eloise Cantello .