More than 60 apartments to be built in Coventry city centre - and they're NOT for students
More than 60 apartments are to be built within walking distance of Coventry city centre and they’re NOT providing accommodation for students.
In its first development venture in Coventry, Elevate Property Group is to build 62 apartments which will be aimed at first-time buyers.
Elevate has pledged its scheme will offer “designer apartments at first-time buyer prices”.
Queens House in Queens Road, Coventry, will offer 62 one and two bedroom apartments and studios close to the ring road and not far from the city centre.
Prices will range from £120,000 to £195,000 for the 45 one bedroom and 17 two bedroom apartments.
Construction work has already begun and Elevate says it hopes to be handing over the first properties in autumn this year.
Elevate has expanded its operations to Coventry following a string of development successes in Birmingham.
There it has been behind residential schemes such as Concord House, Honduras Wharf, St Paul’s House and Queensway House.
Its first venture in Coventry is being launched in partnership with Investin.
Elevate revealed it is “keen to catch the wave” in Coventry, where more than £9 billion is being invested in regeneration schemes across the city.
Elevate MD Steve Dodd said: “Owning an apartment at Queens House will not only provide the key to a new home, but will unlock the opportunity for a city lifestyle.
“Our move into Coventry marks the first joint venture with Investin plc and we are already targeting other Midlands cities with a number of deals in the hands of lawyers.
“Queens House is within walking distance of all of Coventry’s exciting new developments and the vibrant city centre.
“Coventry is clearly a city on the up, and we are excited about the opportunities we see there.”
Coventry is England’s ninth largest city and has a population of 345,000, which is set to grow further.
A CBRE survey in 2016 ranked the city as one of the five best in the UK for rental growth, with rent rises in the past year of 14 per cent, to an average of £677 per calendar month.
Coventry has an average age of 36.8 years and the population is expected to grow seven per cent to 355,990 by 2020.
The Queens House development will be welcomed by many as a scheme aimed at first-time buyers rather than students.
Most of the new developments that have gone up in recent years and many of those in the planning pipeline have targeted students.
Mr Dodd added: “Queens House is the right product for the right market at the right time and we are very excited about the prospects for Elevate and Investin in Coventry.
“We are anticipating strong interest and already have over 30 per cent off-plan sales agreed from eager buyers and investors.”
The selling agents are Connells of Coventry on 02476 553093.