Rare New Development in Andover, starting from approximately £180,000 for a one-bedroom unit
This unique new apartment project in the heart of Andover, Hampshire, combines scarcity, government planning, superior property rights structure, and high flexibility for potential returns, offering a rare investment opportunity!
? Key Advantages:
• The project is part of a government-supported town center master plan and benefits from a £18.3 million “upgrade fund” investment.
• Superior Property Rights: All apartments come with a 999-year leasehold, with zero ground rent, surpassing the conditions of most local second-hand properties.
• Solid Valuation Basis: Pre-sale prices are locked in at the independent valuation level commissioned by the bank in 2023, with a director of the valuation firm having purchased a unit, demonstrating confidence.
• High Potential Returns: Local long-term rental yields are around 5.6%-6.3%. By adopting a short-term rental strategy, annual returns can reach up to approximately 15%, showcasing flexibility in strategies.
• Extremely Flexible: Sale contracts are transferable, allowing for free resale before completion to lock in capital gains early.
• Strong Demand: Driven by commuting (70 minutes direct to London), quality education, riverside environment, and a mature community, there is robust demand for both renting and buying.
• Competitive Pricing: Adjacent to the high-priced Winchester, future pricing for surrounding new developments is expected to be higher, highlighting this project’s clear long-term appreciation potential.
Address: The Crown, London Street, Andover SP10 2PE
Developer: Queensbridge Homes
Price: Approximately £180,000
Expected Completion Date: Q4 2025
Service Charge: To be confirmed
New Home Warranty: 10-year ICW warranty
Planning Permission: Fully approved
Building Structure: Single building with 46 apartments
Ground Rent: Symbolic rent
Parking: £15,000 per parking space
Exchange Contract Deposit: 20%
