Picturesque Christchurch in Dorset, long a favourite downsizer hotspot for older people, has been crowned the most expensive destination in the South West per square foot*.
A sum of £227,000 – equivalent to the average UK property value – buys only 687 sq. ft. of space in the coastal town, making it pricier than the prestigious historic town of Bath and only a little less costly than Bristol**.
Retirement provider Platinum Skies’ Monterey development has aimed to make living in Christchurch more affordable for retirees. However, only four of Monterey’s 35 apartments now remain.
Homes at Monterey are available through Platinum Skies’ flexible ownership scheme, whereby prospective residents purchase a share in a property, before paying a monthly rent and management fee. The scheme is designed to reduce the costs typically associated with downsizing and allows retirees to own a far larger property than buying outright.
As a result, Monterey has proven popular, with nearly 90% of the development’s properties snapped up since its launch in 2017.
Of the four remaining units, one is a two-bedroom duplex which spans 1,082 sq. ft. and is available through Platinum Skies’ part buy, part rent scheme for £225,000. The other three units are one-bedroom apartments offering up to 672 sq. ft. of space for as little as £145,000 through part buy, part rent.
All units come with shaker-style fitted kitchens, open-plan living areas, and walk-in showers. In addition, all four apartments come with top-of-the-range finishes, such as stainless steel sinks and natural timber effect floor tiles.
David Hines, Chief Executive of Platinum Skies, comments: “Christchurch’s prices are finally catching up with its reputation. In their quest to downsize to this Dorset idyll, older couples could end up paying more for much less.
“Monterey offers the best of several worlds: high quality, well maintained apartments, combined with outstanding value-for-money, despite the area’s popularity. We’re confident of strong demand for the remaining units there.”
Nestled within a conservation area, Monterey combines classic Victorian architecture with modern touches, such as large windows and Juliette balconies which project a fresh, light-filled ambience. Inside, the layout has been designed to create a feeling of serenity and well-being, with open plan communal and private areas, elegant décor and large windows.
Monterey also benefits from an on-site Lifestyle Manager – which features across all Platinum Skies schemes – who assists residents and helps foster a sense of community.
Prices start from £145,000 for a 50% share of a one-bedroom apartment (FMV = £290,000). House number 35 at Monterey is £225,000 for a 50% share (FMV = £450,000).