With property investors returning to the market in significant numbers for the first time in four years, the Barratt Group, including its major housebuilding brands Barratt Homes, David Wilson Homes and Ward Homes, has launched a major initiative to sell show homes at many of its developments to buy-to-let investors.
“We have not seen this level of demand from investor buyers outside of London since the downturn of 2007,” says Gary Ennis, Regional Managing Director for Barratt Southern. “That is why we are today unveiling a deal called Showhome Lease Back, which comes with a guaranteed yield of seven per cent.
“Buyers have the opportunity to buy the Showhome at selected developments in the region and then immediately lease it back to us for up to five years to use as a marketing suite. Rather than have to worry about untidy tenants, the investor knows that we will maintain the property in pristine condition.”
Furthermore, the scheme promises no management or agency fees for the duration of the tenancy and the inclusion of furniture, fixtures and fittings in the investment price.
With many prospective homeowners unable to buy in the current economic climate, demand for rental property has risen in many areas. Barratt has recognised that where apartments used to be the main target for investment buyers, in today’s market it is high-quality new houses that are of most interest for those buying to let.
“They take the view that the direction of house prices in the medium term is up, so they expect to be sitting on a tidy profit in three to five years’ time,” continues Gary. “We expect high demand for this product and have set up a new section of our website to provide full details to interested investors.”
For more details of the scheme, go to www.barratthomes.co.uk/showhome
Among the properties currently on offer to investors under the scheme are the following:
Ashdown Place in Uckfield, East Sussex, from Ward Homes. A high-quality scheme in a fantastic rural location with views over the local countryside and great transport links, there are currently three show homes available, with three to five bedrooms, priced from £319,995 to £564,995.
Aspire in Ipswich, Suffolk, from Barratt Homes. A two-bedroom show apartment priced £114,995 with en-suite to the master bedroom in a new scheme of contemporary one- and two-bedroom flats in Ipswich town centre.
Axis in Basildon, Essex, from Barratt Homes. A brand new launch of contemporary town centre apartments in Basildon, close to the station and just half an hour from Fenchurch Street, one one-bedroom and one two-bedroom apartment with en-suite are available for Lease Back.
Bocking Mill in Braintree, Essex, from Barratt Homes. A riverside development in the village of Bocking on the outskirts of Braintree, combining a lovely semi-rural location with great access to shops and transport. The four-bedroom end-terrace show house with garage is priced at £339,995.
The Copse in Basingstoke, Hampshire, from David Wilson Homes. One of three David Wilson schemes in Basingstoke, the development is on the outskirts of town in Sherfield on Lodden, just minutes from the town centre and the M3 and M4 motorways. Two four-bedroom show homes with garage cost from £369,995 each.
Eden Village in Sittingbourne, Kent, from Ward Homes. Just a mile and a half from the town centre, with rail services to Victoria and St Pancras and close to A2, M2 and M20, with countryside right on the doorstep. The three-bedroom semi-detached show home is priced at £219,995.
Halstead Place in Sevenoaks, Kent, from Ward Homes. An exclusive development of new properties in Halstead village, north of Sevenoaks, a mix of new-build and Grade II-listed refurbishment. Luxury detached show house with four bedrooms (two en-suite) and double garage priced at £799,995.
Hartswood Mews in Takeley, Essex, from David Wilson Homes. Right in the heart of north Essex countryside, this new scheme at the Priors Green development has convenient links to Chelmsford, Bishop’s Stortford, Stansted Airport and the M11. Spacious four-bedroom show home with single garage priced at £309,995.
Vitae in West Thurrock, Essex, from Barratt Homes. A mix of houses and apartments in a fast-growing residential area in the south of Essex, close to M25, A13 and Dartford Crossing. Two three-bedroom semi-detached and two four-bedroom family homes are available for Lease Back, priced from £225,995 and £244,995 respectively.
Three show homes are available under the new Barratt Group Lease Back scheme at Ashdown Place in Uckfield, from a three-bedroom house at £319,995 to a five-bedroom house at £564,995