Assetz® News » HOME | RSS Feed FEED | LIST ALL ARTICLES | ASSETZ HOMEPAGE
Investment Property News from Assetz

Assetz® Property News Service

Newquay's property paradise

7th July 2008 | back to article listings BACK    print this article PRINT

Newquay is renowned as a surfer's paradise or an A-level student's holiday haunt, and is home to stag and hen parties, pensioners and friendly locals. It boasts beautiful beaches, cosy pubs, a lively nightlife, seafood restaurants and its fair share of quaint guesthouses, B&Bs and hotels. But these assumptions may not be true for much longer, as an influx of City workers into the area due to improved flight connections have boosted the local property market, bucking the national trend of dismal housing market forecasts.

According to the Guardian, a small plot of land in the area has just sold for £2.5 million to property developers keen to cater for professionals escaping for a weekend of surfing. Sold by estate agent Bradleys, Cribber Green Rooms in Newquay recorded a seven-fold increase in value over six years. This follows announcements by two airlines that they will continue to run flights to Newquay. Both Air Southwest and Flybe have pledged their support to the area. Southwest Airlines deputy chief executive Mike Coombes told thisiscornwall.co.uk: "As the largest operator at Newquay Cornwall Airport, Air Southwest remains committed to offering customers excellent value for money with all-inclusive fares," adding: "Our Glasgow service from Newquay has been a popular addition to our route network, and means we now offer eight destinations from Cornwall year-round." Clearly, the infrastructure is in place to support increased demand from young professionals to Britain's surf capital.

Thus, there are plans a foot to turn older, dilapidated buildings in the area to swanky holiday apartments for those who want to - and can afford to - enjoy luxury accommodation in this laidback town. Acorn Property Group is one company that is leading the way, replacing cheap hostels with penthouses. Its Azure complex boasts views of Fistral Beach and the Atlantic Ocean, as well as the local golf course. Of course, each apartment offers a terrace for tenants or homeowners to make the most of the scenery. Chris Baxter, a director of Bradleys, told the paper why the land on which the Cribber Green Rooms is situated has been so popular with property investors. "This is a fantastic plot with views on both sides and close to Fistral beach, one of the best surfing spots in Europe. People are still willing to pay for the best sites here," he said.

While the rest of the UK property market seems to be faltering, Newquay is bucking the trend. Whether the town is merely several years behind the rest of the country in terms of rocketing property prices is unknown, it could be it will ignite a new wave of property developments in long-forgotten about seaside resorts. Either way, property investors are keen to surf the surge of success.

Assetz® is a UK and International Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz France Assetz Spain Assetz Cyprus Assetz Germany Assetz Portugal Assetz Ski Assetz Cape Verde Assetz USA Assetz Finance Assetz Fund Management

Accessing the news service

You can view all of the Assetz® UK, International and UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

eXTReMe Tracker