04-Jun-2010
Kaleidoscope Proves Popular with Investors
Investing in property for the rental return alone is an increasingly attractive option, especially at Kaleidoscope in Cambridge, according to local estate agent, Bidwells. With rental yields of over 5% being achieved by savvy landlords, Crest Nicholson has noticed a rise in the number of investors looking to buy the one and two bedroom apartments available at the popular city-centre development.
Andrew Tucker, an Associate at Bidwells Property Consultants in Cambridge, comments: “Investors may think that they are buying into a weak market, but as Kaleidoscope demonstrates, rental yields are on the increase and buy-to-let investors have a great opportunity to capitalise on the increasing demand for city-centre apartments in Cambridge. Developments such as Kaleidoscope are proving exceptionally popular, as they offer the perfect combination of a top quality product in a prime location, and are also available at an affordable price.”
Andrew continues: “The apartments at Kaleidoscope are attracting all different kinds of tenants, particularly young professionals, many of whom work in the city centre or at the hospital and even those that commute into London. The development’s position to the south of the city centre means the development is perfectly situated for all of the different transport links. This is a huge draw for tenants, combined with the quality of the apartments on offer. Investors have caught onto this combination and their investments are certainly rewarding them. We have recently received a huge number of enquiries from prospective buy-to-let purchasers who have become aware of Kaleidoscope’s prominence as one of the leading opportunities for investors in the city.”
Kaleidoscope boasts a sophisticated range of 408 properties in total. Comprising a stylish range of one and two bedroom apartments, which are perfect for sharers, the development has been meticulously master-planned to create a lively community with a strong sense of place. Combining a sleek, modern exterior with a stylish, contemporary interior, homes at Kaleidoscope will, when complete, be dispersed across 11 architecturally unique buildings and landscaped areas that will be linked by a sequence of shared spaces.
Annette Cole, Sales and Marketing Director at Crest Nicholson Eastern, comments: “Kaleidoscope is proving extremely popular with investors and we’re expecting this to continue as market conditions improve and more people get to hear about the development. There is no shortage of tenants looking to move into the development as they are attracted by its proximity to the city centre, the convenient commute into London, as well as the fact that there is plenty of open countryside moments away from the development.”
Cambridge has excellent travel links; Cambridge railway station provides a non-stop service to London Kings Cross in just 45 minutes, rivalling Oxford’s journey time of 56 minutes into London Paddington. Alternatively, the M11 is just six miles away providing a swift route to Stansted Airport and the motorway network beyond.
Prices at Kaleidoscope start from £265,000 for a two bedroom apartment. For further information please contact the marketing suite on 0870 757 8186 or visit www.kaleidoscopecambridge.com