Unprecedented demand for new homes at Belmont Court

26/06/2019

Towards the end of this year, Andium Homes will complete a new development in Ann Street, with 15 apartments for sale at Belmont Court. The site previously housed the large boilers which were required for beer production at the Ann Street Brewery over the road.

Demand for the site has been unprecedented. Andium Homes has received in excess of 250 expressions of interest for the 15 apartments, which will be sold to First time Buyers through the Affordable Housing Gateway at a discount of up to 20% of the market value.

Jonathan Gough, Head of Financial Planning at Andium Homes, said “It is going to be a fantastic development and an exciting step forward in the regeneration of the north of town. It is always difficult to gauge demand for these types of units, but it’s very clear it’s there. This area of town is going to benefit from significant re-development over the next 3 to 5 years, with the plans for the Gas Works and Brewery sites and the work which has already begun at Ann Court. I think people have seen that and want to be part of it”.

The site will deliver 3 x one-bedroom apartments, 11 x two-bedroom apartments and 1 x three-bedroom apartment at prices up to 20% lower than the market value.

Andium Homes is currently on site delivering 760 new homes, the majority of which will be for affordable rental but there will be 62 homes for sale to First Time Buyers.

At the end of May, the Affordable Housing Gateway reported affordable first-time buyer demand for one-bedrooms at 181 and two-bedrooms at 498. The latest Jersey House Price Index showed a median one-bedroom flat transacting at £265,000 and a median two-bedroom flat at £375,000. Andium Homes is keen to highlight that they can provide an affordable alternative in a market of rising costs and are working with all partners to continue to deliver such opportunities.

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