Highgate Court developer reports 13 per cent increase in sales revenue
PUBLISHED: 14:17 09 August 2017 | UPDATED: 14:17 09 August 2017
Developer of Highgate Court, Bellway Homes, bucks trend to report 13 per cent increase in housing revenue this year
Housebuilder Bellway Homes has reported a more than healthy increase in housing revenue this year, bucking the trend of developer Taylor Wimpey and estate agents Foxtons and Countrywide, who have seen profits plummet this year.
The FTSE 250 developer has reported that revenue is expected to increase to £2.5 billion in the 12 months to July 31st, an increase of 13 per cent. It’s forward order book is anticipated to rise 16 per cent to £1.3 billion, and completions rose over 10 per cent to just under 10,000 new homes.
Bellway are behind Haringey’s Highgate Court, which offers one, two and three bedroom flats, as well as a penthouse and townhouse, with turquoise and gold-infused interiors designed by Blocc Interiors.
Back in April, we reported that the development had seen all 18 of the apartments sold so far going to first time buyers or downsizers. The new homes start at £699,995; good value considering the average price of a flat in N6 is £755.951 according to Zoopla.com.
A three bedroom apartment weighs in at £1,349,995, whilst the five bedroom townhouse will cost you £2,350,000
The homes will be particularly attractive to buyers with young children, since it is in close proximity to several good schools including Highgate School, St Aloysius RC College and St Michael’s CE Primary School.
A recent school survey from Rightmove found that parents would pay an average of 18 per cent more than the asking price to be closer to good schools.
Jody Bryant, sales manager at Bellway Homes north London, commented: “We have seen great interest in our one bedroom apartments at Highgate Court during the first phase. It is great to be able to now offer two and three bedroom apartments to families and investors who are looking for a home in a great location, on what would have only been a derelict police and former court building.
“The award-winning construction team at Highgate Court have ensured that aesthetics is key, keeping the design in style with the local area. It is great for house buyers who want a modern village-feel in a desirable location and close to some great schools. We would urge interested buyers to come and see our show home before the apartments are snapped up,” she added.
Close by is Highgate Wood, pretty as a picture from the roof terrace of The Blomfield, a three bedroom apartment remaining in the development. Mallinson Sports Centre and Archway Leisure Centre are also closeby for active tots and Hampstead Heath is a short journey away.
CEO of Bellway, Ted Ayres, said: “A focus on delivering growth, set against a backdrop of favourable market conditions, has helped Bellway to surpass last year’s record in respect of both volume and operating margin and further increase the Group’s contribution to the supply of much needed new homes.”
It added that easy availability of mortgage finance and Help to Buy were further propping up a healthy sales record, despite concerns about political and economic uncertainty relating to the General Election in June and the onset of Brexit negotiations.
Bellway, 0333 202 5141