Cambridge is currently one of the busiest centres for property development in the east of England, with a host of regeneration projects in the city itself and numerous large developments in the surrounding area in places such as Cambourne and Trumpington. Berkeley Homes is adding its contribution in the form of its Cambridge Riverside development of apartments and penthouses.
It's not just owner-occupiers who will be interested in this new development, investors are also taking a great interest in the opportunity to capitalise on the local property market. Not only does Cambridge have a buoyant rental market thanks to its student population and an increase of 9% in the overall population since 2010, there has been a 30% increase in capital values in the city since 2009 (reported in Property Week this summer).
Tina Dedman, sales and marketing director for Berkeley Homes, says: "Cambridge Riverside offers a rare chance for people to own a breathtaking modern home in the heart of this exciting, vibrant and prosperous city. Investment opportunities of this high calibre are few and far between here and the apartments offer potential landlords the opportunity to invest in stylish and luxurious homes."
Toby from agents Savills adds: "The Cambridge lettings market has been extremely busy and apartments are letting very quickly with minimal void periods of just a few days, which is encouraging compared to the national average void period of three weeks, cited recently by Association of Residential Letting Agents (ARLA). The general rule is that tenants are looking for properties that are in a good condition and correctly priced. This continuing trend means that Cambridge remains a wonderful investment opportunity."
With 80% of the development already sold, there is still a chance for property buyers to secure an apartment at Cambridge Riverside, with prices starting at £204,950 for a studio. Residents benefit from a typically high-specification Berkeley Homes finish, a private gym and concierge service.
