Flurry of first time buyers head en-masse to Park Central

A flurry of first time buyers have descended upon Park Central in the last two weeks according to Crest Nicholson, the developer behind the popular residential development in Birmingham city centre.

Visitor levels more than doubled in January, with approximately 60 per cent of the visitors being first time buyers interested in the government’s FirstBuy scheme, which is available on the newly launched two bedroom apartments in the Lincoln building at Lower Parkside.

FirstBuy is designed to make getting onto the property ladder affordable for first time buyers. The initiative means that purchasers will own 100 per cent of their home for just 80 per cent of the price as Crest Nicholson and the Homes and Communities Agency offer a loan of up to 20 per cent of the full purchase price. The loan is equity free for the first five years, after which interest of 1.75 per cent is payable. Loans must be repaid when the home is sold.

Under FirstBuy, a two bedroom, newly-released, contemporary apartment in Park Central’s Lincoln building can be purchased for just £114,800, marking a saving of £28,700 off the full list price of £143,500.

Ruth Williams, sales manager at Park Central says: “We have had a really encouraging start to the year at Park Central and it’s been fantastic to see so many enquiries coming from first time buyers. What’s even more rewarding is that many of our new visitors have been recommended to come and view the homes at Park Central by existing homeowners at the development.

“A vast number of people who live and work in the city have been visiting family over Christmas and it appears many have been encouraged by their parents and friends to try and get onto the property ladder rather than remain in the rental market. The government’s FirstBuy scheme gives first time buyers a great opportunity to purchase their first home and at Park Central, they need a deposit of just £7,175 to secure a beautiful two bedroom apartment.

“We are incredibly pleased to be able to offer FirstBuy on our brand new apartments in the stylish Lincoln building at Park Central, meaning first time buyers are spoilt for choice at the development. With just four FirstBuy properties remaining though I would advise interested househunters to speak to one of our sales team sooner rather than later.”

Built to the highest specification, the newly launched two bedroom apartments boast large, open plan living rooms and kitchen areas including leading appliances, plus French door access to a spacious balcony. Available for immediate occupation, prices for the apartments start from £143,500. The newly built apartments all enjoy elevated views across the eight acres of landscaped public parkland, including Sunset Park’s Sky Mirror – described as a striking work of art – and Moonlit Park’s wildflower meadow that lies at the heart of Park Central.

Bordered by Bath Row and Lee Bank Middleway, and just minutes from The Mailbox, Park Central is an award winning Crest Nicholson development which features an extensive choice of stylish new apartments and townhouses, set around eight acres of landscaped public parkland.

For more information on Park Central, visit parkcentral.co.uk.