ABC Property Company to invest in Travis site
Ashford Borough Council has announced that its property company ‘A Better Choice for Property’, is to buy apartments to be built on the Travis Perkins site on Victoria Crescent.
The purchase, the company’s biggest yet, represents a multimillion-pound investment in the town.
Tracey Kerly, Ashford Borough Council’s Chief Executive, said: “The property company demonstrates another innovative way that the Council is supporting the complex and various housing needs of a growing population.”
She added: “We are delighted to be working with Leath Park Developments on this exciting development which will be built to the council’s lifetime homes and strict space standards that go further than national prescribed space standards. We look forward to growing the business further in the coming years, with the aim of generating more revenue to maintain and enhance overall service provision.”
Darren Welch, Managing Director of Leath Park Developments (a Jenner Group Company) said: “This is another example of Ashford Borough Council’s proactive approach to providing local housing in the area and we look forward to working closely with the development team to deliver 28 high quality apartments at Victoria Crescent.”
A Better Choice for Property effectively operates as a buy-to-let investment company, targeting people in work in Ashford who can afford to rent. They are given one-year tenancies that can then be extended by further yearly increments or on a monthly rolling contract, affording flexibility to the tenants, while enabling communities to develop. The emphasis is on providing a high-quality customer experience to tenants from start to finish.
The property company has carefully grown a portfolio of 24 two, three and four-bedroom properties in the borough, ranging from flats to detached houses. The company paid interest to the council of £129,000 in the 2016-17 financial year. This money has been put towards the provision of services across the borough.
It is anticipated that in the next three years the company’s portfolio will grow to around 400-500 properties that are either in its ownership or that it is committed to owning off-plan.
Ashford Borough Council 18 December 2017
www.ashford.gov.uk/whats-on/news/property-company-expands-with-off-plan-purchase-18th-dec/
Details of the planning application can be found in our post of 6 July 2016
https://southashford.org.uk/index.php/2016/07/06/former-travis-perkins-trading-co-ltd-victoria-crescent-tn23-7hp/
