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GET A STEP UP
ON THE PROPERTY LADDER, October
2006
Not all of us want
our parent's help and advice when
it comes to major decisions in our
lives; when it comes to property,
however, it would appear that their
assistance could be paramount.
With getting a foot on the property
ladder becoming so difficult for young
people and it seems that renting is
the only option, some parents are
seizing the opportunity to step in
and kill two birds with one stone;
they get a sound long term investment
AND provide a place for their kids
to live in.
With huge investment in Nottingham
and its status as the jewel of the
East Midlands it isn't just students
who are attracted by the city's dynamic
cultural and social life and want
to live here.
Pete Whitehead is just one of the
purchaser's at the new development
Lace Market Square in the trendy Lace
Market who has helped his son buy
a property off plan in a new 46 apartment
scheme that will be completed spring
2007. They have bought a two bedroomed,
two bathroomed apartment.
Mr Whitehead from Derby added, "It
is very difficult for youngsters nowadays
to buy their first home as property
prices have risen so much and are
far outstripping salaries. With my
son relocating from Manchester to
Nottingham in 2007 with his work it
is an ideal opportunity for me to
invest in property and for my son
to have a foot on the property ladder
in what will be an exceptional city
centre development."
Lace Market Square is attracting
a mix of purchasers, both owner occupiers
and other parents also buying for
their offspring and with Nottingham
city centre boasting the largest proportion
of residents in the working age group
within the East Midlands it comes
as no surprise that parents and other
occupiers are snapping up the apartments
for the growing professional market
in what is seen a thriving area for
new business.
So where does this growing professional
market emerge from? The East Midlands
is highly successful at attracting
students from outside the region,
with the University of Nottingham
the key draw, with over half of the
regions students residing after graduation.
But what is it that attracts them
to Nottingham?
Considered to offer the best for
graduates in terms of employment opportunities,
salaries and quality of life, developments
such as Lace Market Square provide
the perfect base for those wanting
city chic outside of London and other
major cities such as Manchester and
Leeds.
Famed for it's beautiful architecture,
the Lace Market is home to up market
wine bars, restaurants and a variety
of apartment conversions. Access to
the Lace Market has never been easier
with the advent of the tram, and the
city centre is just a minute's walk
away. It is the prime location of
the Lace Market Square development
that made them so attractive - with
restaurants, shops and all the attractions
of Nottingham within a few minutes'
walk. According to another purchaser
Chris Douglas has bought because:
"It's a small, select development
at the heart of Nottingham - everything
is within reach."
These apartments are also priced
extremely competitively. Prices start
from just £125,000 for a one
bedroom apartment with a secure underground
parking space included in the price.
Two bedroom apartments range from
£155,000.
Another factor would have to be the
fact that this development is not
only about apartments - Lace Market
Square incorporates a public space
which will be landscaped by Nottingham
based landscape artists, Wolfgang
& Heron. Not only would it provide
an attractive centrepiece, but it
also set the apartments apart from
other city schemes. This continental
style central piazza will really open
up the Lace Market and provide a space
for all to enjoy.
Phase 2 of the scheme has been released
and prices range from £125,000
for a one-bed, one-bathroom apartment,
to £160,000 - £190,000
for a two-bed, two-bathroom apartment,
all with secure underground parking.
Please contact the sole selling agents,
Savills on 0115 934 8020 for further
details, or visit www.lacemarketsquare.co.uk
ENDS
For further PR information, or for
a jpeg image, contact Kathryn Greenwood
at Eden PR on 0115 852 4717,
fax 0115 950 9175 or email Kathryn@edenpr.co.uk
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