A young couple have signed up for their first property purchase at The Glass House.
The pair bought a one bedroom balcony apartment over-looking the splendid park frontage which is receiving a £4.3m revamp.
Beth and Luke, both from East Yorkshire had been saving a deposit to get onto the property ladder. After comparing the apartments to two bedroom houses on the outskirts of Hull, the city centre appeal won them over.
“I grew up in a village where transport and travel time is always an issue. Luke and I had been renting an apartment in Hull city centre and love being here. When we were looking for our first house to buy, I didn’t want to move further out as we were both used to the convenience of city living.”
“We have been familiar with The Glass House since it was announced, but hadn’t thought it would be within our budget. After doing the calculations with the developer’s mortgage adviser we found it actually is and we will be paying quite a lot less than we were for renting.”
“After looking around at other properties within our price range, nothing can compare to The Glass House. It’s a completely unique building and we both thought why would we buy a home that was the same as all of the others when we could live somewhere so amazing.”
The Glass House is the latest development by Iguana Developments, the company helping to regenerate the city centre and the Old Town, converting commercial offices into high-spec living spaces.
The company’s signature style includes communal smart amenities including; cinema, gym, private dining room, co-working space and concierge.
“The Glass House is the best apartment building in the city centre. I have loved watching the construction and can’t wait to move in. I really like living in the city centre and The Glass House everything is so convenient, especially with the residents’ amenities on site. We’ve costed it all up with a £7,000 deposit and a monthly mortgage of only £377, we will be approximately £300 a month better off by saving on rent, travel costs and also our gym memberships, etc.”
Jason Coleman is the Managing Director of Iguana Developments. He says:
“We are thrilled that Beth and Luke have been able to buy their first home with us. There is so much doom and gloom about young people not being able to get onto the property ladder, but this is a misconception because with a five per cent deposit and the government’s Help to Buy Scheme, a joint income of £28,000 was more than sufficient to not only get on the property ladder, but to become residents of the best apartments ever created in Hull.”
“We work with many young professionals who are relocating to Hull and feedback shows that the cost of living in Hull is a big plus for those just starting out in their professional careers.”
More than 50 apartments have been reserved off-plan, attracting mixed buyers: down-sizers, first time buyers, couples and families as well as small number of investors.
The Glass House is a £22m development, due for completion in the late summer includes 94 one, two, three and four bedroom apartments and penthouses with prices starting from £140,000.