Christchurch, long a favourite downsizer hotspot for older people, has been crowned the most expensive destination in the South West per square foot*. A sum of £227,000 – equivalent to the average UK property value – buys only 687 sq. ft. of space in the coastal town, making it pricier than the prestigious historic town of Bath and only a little less costly than Bristol**.
The Platinum Skies’ Monterey development has aimed to make living in Christchurch more affordable for retirees with its unique flexible ownership scheme available. However, only four of Monterey’s 35 apartments now remain.
The part-buy, part-rent scheme is government backed and unique to the private retirement market, whereby prospective residents purchase a share in a property, before paying a monthly rent and management fee. The scheme is designed to reduce the costs typically associated with downsizing and allows retirees to own a far larger property than buying outright.
As a result, Monterey has proven popular, with nearly 90% of the development’s properties snapped up since its launch in mid 2017.
Of the four remaining units, one is a two-bedroom duplex which spans 1,082 sq. ft. and is available through Platinum Skies’ part buy, part rent scheme for £225,000. The other three units are one-bedroom apartments offering up to 672 sq. ft. of space for as little as £145,000 through part buy, part rent.
All units come with shaker-style fitted kitchens, open-plan living areas, and walk-in showers. In addition, all four apartments come with top-of-the-range finishes, such as stainless steel sinks and natural timber effect floor tiles.
Nestled within a conservation area, Monterey combines classic Victorian architecture with modern touches, such as large windows and Juliette balconies which project a fresh, light-filled ambience. Inside, the layout has been designed to create a feeling of serenity and well-being, with open plan communal and private areas, elegant décor and large windows.
Prices start from £145,000 for a 50% share of a one-bedroom apartment (FMV = £290,000). House number 35 at Monterey is £225,000 for a 50% share (FMV – £450,000).
For more details call 01202 471461 or email email@example.com
*The Times, July 2018