With recent reports revealing property prosperity nationwide, the West Wales market also has reason to rejoice. Forecasts provided by the Royal Institution of Chartered Surveyors (RICS) have predicted that house prices throughout Wales will grow by 6% throughout the remainder of 2016, and recent events, specifically the success of the Sandhurst Apartments development in Burry Port, prove that the property market is indeed booming in West Wales.
Leading construction company Andrew Scott Ltd is known for delivering quality project after quality project, and their recent development in the beautiful Burry Port is no exception. Launched this Easter weekend with prices starting at £180,000, Sandhurst Apartments draw on the company’s 140 years of experience in construction and civil engineering. Once home to nothing more than a derelict building, the Sandhurst site has undergone a transformation taking full advantage of its stunning beachside location. Just 80m from the shore and a short walk to the sand dunes, this new and contemporary development enjoys magnificent views over the Gower coast.
Five of the Sandhurst Apartments have already been sold, and with only two remaining, many buyers will be looking to beat the stamp duty rise set to be introduced. The stamp duty rise applies to all those looking to buy a second home or individuals wishing to invest in a buy-to-let property, two groups that have been particularly interested in the Sandhurst Apartments due to their luxury specification, access to transport links and remarkable location.
“It was an exciting time to be building in Burry Port with a development designed to bring the very best in contemporary living to a beautiful location. The finished product is seven exceptional apartments packed with all the luxury features you’d expect. The stamp duty deadline is of course looming which has inspired many buyers to invest as quickly as they can, but the rising popularity of West Wales as an area to live and visit has also resulted in a local property market boom,” said Mark Bowen, Managing Director at Andrew Scott Ltd.
As of 1st April 2016, new additional property Stamp Duty Land Tax (SDLT) rates will apply. For example whilst those looking to purchase a property valued up to £125,000 will have no stamp duty to pay, those buying the property as a second home or buy-to-let will be liable for 3% SDLT. The 3% surcharge will be applied to all purchases across all bands. Again the buyer will be charged on the portion of the value of the property that falls into each band.
Sandhurst has been designed specifically for discerning buyers aged over 55 and offers a unique proposition – a lifestyle led development with a superb internal specification. The sandy beach in front of the apartments with its lighthouse perched on the rock outcrop is ideal for surfing, bodyboarding and kitesurfing, whilst the path running alongside is made for cycling, running and walking. The apartments are also close to Pembrey Country Park, two championship golf courses and the town of Burry Port which offers a mixture of shops, restaurants and pubs plus excellent rail links to Swansea, Cardiff and Paddington.
The development’s crowning glory is its penthouse, which provides a spectacular vantage point and uninterrupted views across the Gower coastline. Described by the developer as ‘the icing on the cake’, this impressive property is fully equipped with a dining terrace to the west for evening meals in front of the sunset and a south facing balcony in the master bedroom complete with dressing room and en-suite. With space to entertain, a further luxury bathroom and two bedrooms, the penthouse is all set for a lifestyle without limits. The two upper floors are also accessed via a private lift.
“The development has been designed by award winning Lewis Partnership Architects to reflect the style of neighbouring buildings and to incorporate locally sourced materials. The modern coastal décor is complemented by extensive glazing which delivers an ever changing outlook thanks to fabulous views over the estuary, beach and wider Gower coast. Providing a perfect haven or weekend retreat with private parking, Sandhurst is very special but hurry, only two apartments remain!” concluded Mark.
To discover more about Sandhurst and its luxury specification please visit www.sandhurstapartments.co.uk.