With property prices for homes in central England continuing to rise, City & Country's beautiful development in Caversfield, near Bicester, The Garden Quarter, is proving popular with savvy purchasers looking for safe investment opportunities that can provide a strong and reliable return in the area.
The former RAF Bicester domestic site is being carefully converted into a selection of unique apartments and cottages. When complete, the development will provide 196 homes set within 23 acres of beautiful landscaped parkland. The development's military architecture, contemporary interiors, close proximity to Oxford and excellent transport connections make it a safe rental model set to deliver high yields. The homes have always proved popular with average sales rates reaching between seven and eight per month during the busiest periods last year. Savvy investors are making the most of this high demand, with at least two investors already owning more than one property at the development.
Maxine Allington, Lettings Manager at local agent Tobin Jones Property, comments: "The Garden Quarter offers high quality homes and excellent transport connections to the surrounding area, so it comes as no surprise that it has proved such a hit with investors. We estimate that on current purchase prices investors can expect average yields of around 5 per cent - much higher than other properties on the local market – providing excellent potential as a lucrative long-term investment.
“The properties' unique historic features not only stand them apart from others on the market but also ensure a continued level of interest from prospective renters. All currently leased properties at the development were rented before completion, and landlords at the development can rest assured that vacant periods are extremely rare.”
The properties enjoy an enviable location surrounded by superb countryside, yet with fantastic road and rail links to local towns and larger cities. Nearby Bicester North station provides regular train services to London Marylebone, with journey times from 48 minutes. By road the A4095 by-pass provides quick access to Junction 9 of the M40 linking the Garden Quarter homes to London and Birmingham.
The diversity in size and shape of the original buildings at The Garden Quarter has culminated to an intriguing range of floor plates and thus highly individual apartments and houses. The combination of unique British Military detailing with stylish modern interiors results in a one-of-a-kind home which stands out from the usual rental property.
Set amidst landscaped lawns and gardens maintained by a separate management company, The Garden Quarter provides a beautiful environment at the same time as convenience for landlords seeking a hassle-free investment. The high quality interior design means there are no 'fixing' requirements and, being ready-to-move in to, the homes enable a smooth and quick moving process - So quick that some tenants have moved in on the day of the properties completion.
Helen Moore, Managing Director at City & Country, comments: "The Garden Quarter homes have always been popular with a wide range of house hunters, including locals upsizing or downsizing; commuters taking advantage of the superb road and rail links to London and Oxford; professionals who enjoy living near the countryside and first time buyers who can get a lot for their money in Bicester. We have already had a high level of interest for the next phase of homes to be launched, and we're delighted that this level of demand, which extends across the whole development, is helping a number of investors reap high returns from the properties they have purchased there."
The Garden Quarter provides a quiet oasis whilst being close to the diverse selection of restaurants, bars and shops in nearby Oxford and the popular Bicester Village shopping centre. The development is the best preserved example of the bomber bases constructed as the principal arm of Sir Hugh Trenchard’s expansion of the RAF from 1923 and contributed towards it being designated a conservation area in 2002. 18 of the buildings, including the Officers’ Mess and Quarters, have been listed as Grade II by English Heritage.
Prices at The Garden Quarter range from £230,000 for a one bedroom house to £395,000 for a unique 3 bedroom new-build house. For further information please contact the on-site sales suite, open daily between 10am and 5pm, on T: 01869 253 999, or visit: www.cityandcountry.co.uk.
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