Bargate Homes - Mixed-Use Sale - Fareham, Royal Oak Court Development Sold as Construction Begins

Date: 05 Sep 2006

Housebuilder Bargate Homes is celebrating another triumph - selling its first development before it has been built. Such is the fledgling firm's blossoming reputation for creative design and quality construction, its 20 flats at Fareham have been snapped up although work has only just started.

The six-month-old company, founded by Gerard Price, sold the Redlands Lane development to retirement homes and financial specialist Economic Lifestyle.

The 20 one and two-bedroom apartments are being built on the site of former derelict pub - The Redlands Inn.

Gerard said: "This is an extremely significant and exciting deal for us. This was the first piece of land we acquired and seeing it finalised so quickly after work began on site is a highly-satisfying testimonial to the quality of our brand and what we set out to achieve.

"We strongly believe in breathing new life into urban areas and this development, in partnership with Economic Lifestyle, will do just that. We are creating bespoke homes which will enhance the quality of their neighbourhood."

Economic Lifestyle marketing and communications executive Adam Trainis said Bargate "ticked all the boxes" in meeting their drive for top quality projects.

"It is very high quality in terms of the build and type of apartments we look for, with a good location, close to amenities and good transport links. People looking to retire want a high-quality build, with a great specification and first-class security."

The first of the Royal Oak Court flats, which are being built in two blocks, are expected to be finished in the spring of 2007. They will be sold on lifetime leases - meaning the price is significantly lower than normal market prices.

Gerard Price with the Bargate Homes team at the Redlands Lane development

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