Shrewd property investors not concerned with increase in CGT

June 4, 2010 - PRLog -- There is currently concern that the proposed increase in Capital Gains Tax (CGT) will have a detrimental effect on the buy-to-let market.  However, some long term investors still believe that property offers some of the best returns, particularly as the demand for rental property shows no sign of abating and property prices are rising again.

One such investor, Robert Purry, a semi-retired businessman from Market Harborough, recently purchased a one bedroom apartment at Welland Quarter, a new development in the Leicestershire market town, he said: “Property is very much part of my investment strategy and I’m not concerned about the increase in CGT; most investments are hit by tax in some way.  As far as I’m concerned, property is a known quantity, and Market Harborough is a good place in which to invest. It is a real undiscovered gem – it’s only an hour from London on the train, and within easy access of Leicester, Nottingham and Derby, so it’s a great base if you work in the Midlands or in London.  The town itself is a lovely market town with plenty of independent shops, bars and restaurants.

“I chose a property at Welland Quarter because it is the premier development in the area and is perfectly located close to the train station and town centre, so it appeals to a arrange of people.  There’s a limited supply of apartments on the market here, and even if that did increase, Welland Quarter will let well because it’s in a prime location and is of such a high quality. I did consider buying a house, but thought a new build apartment would be much more convenient as the maintenance is dealt with. I am letting my property through Andrew Granger who begun finding me a tenant whilst I was buying – I completed on the purchase and the tenant moved in within three days, it’s been a really simple process.”

Built by St Mary’s Developments, a subsidiary of renowned London developer, BMB Property, Welland Quarter is a contemporary riverside scheme offering a superb range of high quality studio, one and two bedroom apartments. It is ideally located within walking distance of the town centre and close to the mainline railway station, which provides regular direct services to St Pancras International in as little as 55 minutes.

Welland Quarter has landscaped, communal gardens running down to the river, as well as secure, private underground parking. Inside, all apartments feature spacious, open plan layouts  with premium fixtures and fittings including a complete range of integral appliances such as Baumatic electric oven, hob and extractor hood, fridge / freezer and a washer / dryer.  Bathrooms are elegantly finished with stone ceramic wall and floor tiling, Villeroy & Boch sanitary ware, Hansgrohe fittings and energy efficient lighting.  The majority of apartments benefit from balconies or private terraces leading onto the landscaped gardens.

Each apartment also features communications infrastructure for Sky+, broadband and telephone services, and for safety, there are video entry systems, as well as a home sprinkler fire suppression system.

Prices at Welland Quarter start from £99,950 for a studio apartment, £125,000 for a one bedroom apartment and from £160,000 for a two bed apartment. Gross rental yields are around 5 per cent. For further information, please contact Andrew Granger & Co on Tel: 01858 431 315 or visit www.andrewgranger.co.uk

ENDS
Editor’s Notes


St Mary’s Developments is a subsidiary of BMB Property, one of the largest niche developers in the prime central London market, specialising in the purchase, development and resale of high-value residential property.  Founded in 1992, BMB has established a reputation for a unique and highly desirable product, and has bought, developed and sold in excess of £700 million worth of property, including landmark developments in Kensington, Chelsea, Mayfair, Notting Hill and Knightsbridge.

BMB is managed by a highly experienced team of in-house property professionals. The Group is run by a small team of Directors, all of whom are directly involved in the business and benefit from many years of successful activity; predominantly in the Prime Central London market. For further information, please visit: www.bmbproperty.com

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