New retirement flats in Longwell Green being snapped up despite struggling housing market

Despite the struggling housing market, almost half the retirement flats at the new McCarthy & Stone retirement development in Longwell Green have been sold.

A report earlier this week from the Centre for Economics and Business Research suggests the housing market will stall in 2011, with worried consumers thinking twice before moving house and banks continue to be wary about lending.

But 13 of the 29 one- and two-bed flats at the Bath Road development, where work is almost complete, have already been sold.

All the one-bed flats have been snapped up and prices start at £241,000 and rise to £291,000 for the two-bed apartments.

Those package prices includes agents' fees for selling property, stamp duty on the new apartment, and all solicitors' fees and removal costs.

The flats are for the over-60s. The development includes a communal residents' lounge, a guest suite, laundry room and a lift to all floors.

Each apartment has 24-hour emergency call points, illuminated light switches, a security entry system, easy grip lever taps in the bathroom and kitchen and energy-efficient heating.

The company advertised last month for a part-time house manager on a £11,050 salary.

Viewing is currenty by appointment but there are open days coming up on March 4 and 5.

The new development is called Cabot Court, after famous navigator and explorer John Cabot. The name was chosen by Bristol woman Jill Pyne, who responded to the retirement developer’s appeal for name suggestions.

See the McCarthy & Stone website for more information.