When retired airline pilot Lynn Barton was looking to invest her savings, she was in no doubt that bricks and mortar was the preferred option. Although originally planning to buy several properties in different locations in Southampton, as soon as Lynn visited award-winning Crest Nicholson’s Centenary Quay development in Woolston, she snapped up not one but three homes.
Lynn said: “I had initially considered investing in stocks and shares as well as property but I quickly decided that I would rather put all my money where I could see it, as it were, rather than putting it in a fund or in shares that are managed by other people. I prefer to have more control over my money. Also, I wanted an immediate income stream from my investment, rather than waiting for my investments to mature over a long period of time.
“As soon as I saw the homes at Centenary Quay I was convinced they would be an excellent investment – which is why I invested all my money here rather than in several different developments. I bought the one and two-bedroom show apartments and the two-bedroom show house on a two year sale and leaseback arrangement, so Crest Nicholson is renting the properties from me in order to keep them as show homes. It’s perfect as I am already making money from my investment.
“I had been looking to buy property in the area for quite some time,” continues Lynn. “I had visited a number of developments and individual properties in Southampton, but none of them were suitable and I didn’t feel particularly confident that I would get a good return on my investment. This certainly wasn’t the case with Centenary Quay – which is why I bought three properties here.
“The development stood head and shoulders above the rest. I love that it is on the waterside and the whole development layout is great – the plans for future phases, such as the marina, shops, café and walkway areas, are fantastic and will help build a real community here. The properties themselves were superior to anything else I had seen. The layout of the properties was very well thought-out and room sizes were great – certainly larger than other properties I looked at. There was also a good deal of storage space which I hadn’t seen elsewhere.”
Lynn concludes: “I bought here as a long-term investment and I have no concerns at all about renting the homes once the sales and leaseback agreement with Crest Nicholson comes to an end. I know of other investors here and their homes were rented straightaway. With the superb location, great travel links and high quality finish, the development is sure to appeal to young professionals and other high calibre tenants. I am delighted with my investment – I certainly made the right decision to invest in Centenary Quay.”
When complete, Centenary Quay will deliver 1,620 new homes in total providing accommodation for around 3000 residents, significantly regenerating the quayside of Woolston. The seven year investment programme covers an overall area of 31 acres and will provide a range of restaurants and cafes, a supermarket, several community facilities including a nursery and a library, a children’s play area, Primary Care Trust facility and a new marine quarter to meet the needs of the marine industry.
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