The head of one of Stratford-upon-Avon’s leading chartered surveyors has called on developers such as Redrow to push the start button in 2012.
Director Simon Gibbs, who is based in CPBigwood’s Stratford office, singled out the dormant Redrow site by the town’s railway station as a good example of a development whose time has come.
“There is strong demand for residential property to let in all price brackets in Stratford,” he said.
“Two bedroom accommodation is particularly in demand and we are always seeking to meet new requirements. There is also a growing number of couples looking to rent a property while they try to save for a deposit towards the purchase of their first home”
“To coin a phrase, if you build it they will come. That would be CPBigwood’s message to developers who have sites standing idle in the Stratford area,” he said.
He pointed out that with the lettings market so bouyant at present – and likely to stay that way while the sales market remains challenging – developers could see a good return on their investment by renting out their units for a couple of years and then looking to sell when the market has improved in coming years.
“Stratford town centre remains as popular as ever and we are finding that buyers will often have to rent for a while before they can buy the home of their choice.
“This has been brought about simply by the lack of supply of property to buy in the town. Renting also gives buyers the opportunity to ‘try before they buy’ to some extent,” he said.
CPBigwood was formally launched on September 1, 2011, with the merger of Bigwood and Curry & Partners having taken place earlier in the year.