Second home owners defy market gloom

Despite market conditions and summer drawing to a close, second home buyers are still looking for an affordable property in a waterside location. According to Crest Nicholson Regeneration Ltd, Admiralty Quarter in Portsmouth Harbour has been a popular choice for those looking for an easily accessible second home, opting for this rather than traditional locations further afield.

Retired couple Terry and Trisha Woodward recently bought a one bedroom apartment at the development after looking for a year. They had initially looked in Dorset from their West Molesey home in Surrey, but found that high premiums on seaside property put them out of reach. Eventually they decided that their second home also needed to be more accessible to enable them to visit more frequently, so when they saw Admiralty Quarter, they decided it was exactly what they were looking for.

Terry said: “A major factor is easy access to our second home because we want to be able to visit for a few days at a time. We can drive to Admiralty Quarter at very short notice, when the roads are quiet, and there’s always a magical sense of excitement, as if it’s the beginning of a holiday. We wouldn’t be able to do that if we were faced with a long journey.

“There is plenty to see in the city, with the bustling harbour on the doorstep and a constantly changing panorama, it suits us very well. Admiralty Quarter is right at the heart of this stunning location with Gunwharf Quay within walking distance.

Helen Boniface, Sales and Marketing Manager at Crest Nicholson Regeneration Ltd said: “Admiralty Quarter’s prime location is proving a real draw for second home owners who are shunning the more traditional second home hotspots such as Cornwall, Devon and Dorset and are instead, opting for an easily accessible weekend bolt hole.

“Situated right at the heart of such a vibrant area with fantastic views over the harbour, second home buyers remain interested in what we have to offer here - stylish city living at a very affordable price in an easily accessible waterside location.”

Adjacent to the thriving Gunwharf Quay with its selection of designer shops, bars, restaurants and cinemas, the development boasts spectacular views of Portsmouth Harbour and is just a short walk into the city centre.

Well connected, train services out of Portsmouth Harbour station are just a few minutes walk away and provide high-speed links into London Waterloo in an hour and a half, with mainland Europe just a ferry-ride away.

The development consists of 17 individual apartment blocks ranging from four to eight storeys. At its heart is a private courtyard garden of nearly an acre which conceals underground parking for residents. The 22 storey Admiralty Tower provides stunning views of the harbour and gives Portsmouth a spectacular new landmark.

Prices start at £89,000 for a studio apartment, £149,000 for a one bedroom apartment and £181,000 for a two bedroom apartment.

For more information, log on to Admiralty-quarter.co.uk.