Hundreds flock to property hotspot Gosforth

Amazing scenes saw more than 300 people flocking to the launch of a multi-million pound redevelopment in the heart of Gosforth – as eager buyers snapped up £3.2M worth of property in just four hours.

In events reminiscent of the unveiling of nearby Grove Park at the height of the property boom nearly four years ago, sales staff were almost struggling to keep pace, as numbers attending swelled over even the most optimistic of predictions. Champagne ran dry at one stage, as hundreds of would-be purchasers descended on Gosforth Cricket Club.

Amy Whyte, Head of Residential Sales at property expert Knight Frank in Newcastle, said: “We’ve not witnessed scenes like this for the last couple of years. We were literally rushed off our feet. We’d expected a reasonable turn out, but the attendance was even bigger than our wildest expectations.”

The launch of the Dunelm Homes’ Elmfield Square development was expected to attract a good level of interest due to its location, described as one of Newcastle’s “Millionaires’ Rows”, and the top-end quality of the properties being built at the landmark site.

“We took more than 350 price lists for buyers, but were left with barely a handful by the end,” Amy Whyte continued. “People were buying substantial properties there and then. We’re also expecting more over the next few days, as couples who are ‘downsizing’ have chance to work out the maths and logistics of a move from their traditional family home.

“This clearly confirms Gosforth’s position right at the very top of the North East’s league of property hotspots. The demand was just incredible.”

Dunelm Homes’ managing director Phil Brown added: “We knew that Elmfield Square was set to be one of the premier locations in Gosforth. The community is rich in culture and it’s close to the beautiful countryside and a short drive away from the cosmopolitan city. The launch has really confirmed this for us and we have been overwhelmed by the level of interest we’ve received. The launch party saw virtually the whole of the initial release of the development taken and we are expecting the remaining properties to sell really quickly.”

Elmfield Square is on Elmfield Road in Gosforth, where prices for some homes top the £1million-plus price bracket. Also property website Mouseprice.com recently revealed its 2007 property rich list – including five Gosforth streets in the top 20 across the North East and 14 in the top 100.

The scheme, featuring 33 contemporary apartments, four semi-detached townhouses and one distinct detached home, is being built on the former Northumbria University halls of residence site. The sought-after properties will be fitted with the latest, state-of-the-art smart home technology – including home cinema facilities. Elmfield Square will also be set in immaculate and fully-managed communal gardens.

Amy Whyte added: “There’s no doubt that this is set to be a very exclusive address.”

For further information, visit Knightfrank.com.