LPC Living back on track at Hulton Sq
SALFORD-based LPC Living is restarting construction at its Hulton Square development in Ordsall, on the back of increased buyer interest.
The second phase of the development includes 54 homes of the 260 home scheme. Around 25% (14 units) have been sold off plan this year to owner occupiers.
The properties sold on phase two equate to more than £2m of sales with an average sale price of £144,500.
The developer said it is more confident with market conditions for the year ahead and is in a far better position than this time last year.
Simon Ashdown, development director, said: “The first time buyers that are coming through the door are very different to that of 18 months ago and this is having a positive impact on our sales figures.
They understand the financial commitment, have made genuine efforts to save deposits and are savvier when it comes to the buying process. Instead of looking for a short term living solution which has been a typical trend of the past five years, they are stretching budgets to buy houses – essentially jumping up the ladder on their first purchase.”
First completions of the phase two homes are due in winter 2010 and a new retail centre anchored by a Morrison’s supermarket is expected to start on site this summer.
Phase one of Hulton Square, which totaled 72 units, was complete and fully occupied by December 2009, with 95% sold to owner occupiers.
