Repeat business in Farnborough shows Redrow is getting it right
Happy buyers have been showing the best sign of customer satisfaction at Farnborough Central - by buying again.
Seventeen purchases in the last 15 months have been from customers who’ve bought at least two apartments and one person has actually bought three.
Twelve of the transactions have already legally completed and represent over £2.5 million worth of business for Redrow.
The remaining five reservations accounted for 30% of Farnborough Central sales in June and coincided with the launch of new phase, Lincoln Court. They will add another £1 million of sales revenue at what has been one of Redrow’s most successful developments.
Strong repeat business also supports Redrow’s success in two recent awards.
Mary Timlin, sales director for Redrow Homes (South Midlands), explained: “Earlier this year we retained our five-star rating in the Home Builders Federation’s (HBF) annual customer satisfaction survey for the second consecutive year. The top standard is reserved for companies where over 90% of customers would recommend them to a friend.
“We also won a Gold award following an independent national survey conducted across the UK housing industry by In-house Research, experts in customer satisfaction measurement, market research and training. Again this reflected that more than 90% of customers said they would recommend Redrow to others.
“The fact that people are prepared to buy from us for a second or even third time is further evidence of these high customer satisfaction levels.”
Much of the repeat business at Farnborough Central has been to savvy investors who recognise a good buy.
“The location, high specification and strong rental values of the apartments offer a fantastic opportunity for investors who want their money to work for their rather than simply sitting in the bank. There’s a real demand for rental property in the area and Chilli Lettings, one of the main agents associated with the development, often have tenants waiting for the properties even before they’ve been purchased,” Mary added.
Current availability at Farnborough Central includes one and two-bedroom apartments with prices ranging from £164,950 to £210,950.
Chilli Lettings say these apartments can attract rents of up to £1,000 a month.
One of the major selling points of the apartments is the high specification offered as standard. Kitchens boast integrated top brand name kitchen appliances such as fridge freezer, oven, hob and extractor plus washer-dryer; while bathrooms enjoy sleek modern suites and quality fixtures and fittings
The location is also a big plus, as the development is conveniently close to a wealth of amenities at IQ Farnborough, including a cafe, crèche, four-star hotel and leisure complex. It’s also a great base for commuters as trains from Farnborough will whisk them in to the capital in around 45 minutes.
But it isn’t only investors who can find what they want at Farnborough Central. Owner-occupiers are also well catered for and may even find help to purchase in the shape of FirstBuy, which could cut the cost of buying an apartment by a fifth thanks to an equity loan.
The valuable help enables eligible purchasers to take out a 20% equity loan, interest free for five years. It means they may only need a deposit of 4% and a 76% loan to value (LTV) mortgage to get onto the property ladder.
Whether you’re an investor or a would-be owner occupier, for more information about the apartments, visit redrow.co.uk.
