No property market gloom in Bloomsbury

There's no gloom in Bloomsbury as Barratt's luxury apartments are snapped up in advance. A row of Edwardian mansion buildings in Bloomsbury, London WC1, which Barratt is transforming into luxury two-bedroom apartments is almost 90 per cent sold ahead of the construction programme.

Only three apartments remain available for sale at the development, called Bloomsbury Terrace, at prices from £799,995.

Quietly located in Huntley Street, Bloomsbury, the stylish six-storey buildings were built shortly before World War I, originally as accommodation for police officers. They later became staff quarters for nurses at University College Hospital, but have stood empty and in disrepair for over ten years.

The quality of the buildings and apartments at Bloomsbury Terrace - as well as the fact that it is in one of Europe's finest postcodes - has largely protected the development from the housing downturn caused by the gloomy economic climate.

Adam Lawrence, managing director for Barratt London & Thames Gateway, said: "We have pointed out before that the central London property market was buzzing with anticipation even before we started at Bloomsbury Terrace - and the reason is simple: opportunities like this are incredibly rare in WC1, especially in this beautiful residential area on the Bloomsbury-Fitzrovia cusp.

"So it's hardly surprising that Bloomsbury Terrace has escaped the worst of the housing downturn. There are far more people who really want to live in WC1 than there are opportunities to buy."

Barratt has developed the site in partnership with English Partnerships (EP), the Government regeneration agency. As well as providing 33 apartments for open market sale, Bloomsbury Terrace also includes 20 homes for key workers as part of EP's London Wide Initiative - now all sold.

Bloomsbury Terrace retains the distinctively Edwardian elevations of the blocks while the interiors have been remodeled and transformed into stunning, high-specification luxury apartments for the 21st Century.

All homes have two bedrooms, fully-fitted designer kitchens, complete with integrated appliances, and family and en suite bathrooms, plus balconies (or terraces on the lower ground floor). Lifts serve all floors and there is a daytime concierge service.

Limited private parking - a rare and valuable commodity in this part of London - is being provided at additional cost, located behind the apartments and accessed from Huntley Street through a ‘carriage arch' through the building.

Bloomsbury Terrace is in WC1, at the very heart of central London. Many of the capital's finest shopping, leisure and transport amenities are on the doorstep.

Prices at Bloomsbury Terrace currently range from £799,995 to £819,995.

For more information, log on to Barratthomes.co.uk.