Investors recognise potential at Viridian Square

The buy-to-let market has been identified as filling an essential gap in the housing supply chain, with canny investors set to reap the benefits from rising tenant demand.

According to recent figures from Your Move, the number of leases beginning in January and February this year was up 21% on 2007, and for established investors with a long term outlook, the opportunity to expand upon their portfolios could result in stable returns, as well as provide an essential jumping board for people seeking modern and affordable living space prior to making their first move onto the housing ladder.

This was a situation that was immediately recognised by 44 year old Freddie Otto, a local dentist from Berkhamsted, who recently purchased two homes at Crest Nicholson’s Viridian Square development, in the heart of Aylesbury.

Explaining his decision, Freddie says: “Aylesbury is a vibrant and historic market town, with excellent commuter links and a young, trendy population attracted by the town’s social scene and the wealth of shops, restaurants, pubs and bars that can be found in the centre. I know the area extremely well and this is such a popular location that I felt certain any investment here would be a sound one.”

The town centre is currently undergoing an exciting redevelopment, and future proposals will include opening up the Grand Union Canal, providing the area with a waterside development featuring new shops, public spaces and a dramatic new cultural centre.

As Freddie adds: “The regeneration of the town centre will cement Aylesbury’s position as a new and emerging growth area and I’m excited that, with my investments at Viridian Square, I’ve been able to tap into the potential that is inherent in the area. I have no doubt that the demand for quality and affordable housing in the town will only continue to grow.”

Viridian Square comprises a mix of 214 one and two bedroom apartments arranged in four separate buildings around an attractively landscaped communal courtyard garden, which carries echoes of a traditional London square. Exteriors combine warm red bricks with buttermilk render and elegant pitched roofs; a style that perfectly complements the urban architecture of its surroundings.

Mr Otto initially purchased a two bedroom apartment in the first block, known as The Limes, last summer, before deciding to further consolidate his investment with a second, more recent, purchase of a another two bedroom apartment in The Firs.

“The first purchase went so smoothly, with Crest Nicholson helping me through the entire process, that the decision to make a second investment was an easy one,” Freddie says. “I now have my first tenant in The Limes and am amazed by how straightforward everything was! Even down to the inclusion of a comprehensive interior design package, which really helps investors such as myself ensure that the homes are as well equipped for tenants as possible.”

Inside, all of the homes have been finished with a fresh and contemporary feel, with flexible living areas that maximise the use of light and space. Offering high specification fixtures and fittings, with contemporary co-ordinated kitchens featuring a range of stainless steel De Dietrich appliances, the interiors at Viridian Square boast a level of detailing that appeals to buyers and investors alike. The bathrooms contain white sanitaryware by Roca and chrome Hansgrohe mixer taps and fittings, whilst many of the two bedroom homes also have the added benefit of en suite facilities to the master bedroom.

Kerry Jones, Sales and Marketing Manager at Crest Nicholson, comments: “Viridian Square is a strong development that appeals to both investors and home owners alike. 90% of the current phase is now completely sold and, with just a handful of apartments remaining, I would urge any prospective purchasers to register their interest soon.”

One and two bedroom apartments at Viridian Square are priced from just £159,950. For further information visit Crestnicholson.com.