Developer Blueoak Estates has yielded £14m in sales from two luxury developments in Wirral and two in Chester city centre. Tony McDonough reports
Developer Blueoak Estates has raised £14m after achieving a complete sell-out of four of its latest developments – two of which are in Wirral.
Blueoak was founded in 2014 and says it is a developer of “luxury, sustainable homes” across the North West. It has seen 14 apartments snapped up at its ‘rightsizer’ developments at Sandstone House and Carrington House in Heswall.
In Chester, the company sold all five apartments at Lancaster Square, including a luxury penthouse and three-storey triplex. The most expensive came with a £500,000 price tag. Also in Chester, Concorde House, a development comprising 32 apartments located in the Northgate Quarter have now all been sold.
Redevelopment of this former office building saw the imposing 1950s structure reconfigured to become luxury homes for city centre dwellers. The most expensive home sold for in excess of £750,000.
Iain MacLean of Blueoak Estates said: “We continue to see huge demand for our ‘rightsizer’ properties. Older people are undoubtedly looking for high quality accommodation which doesn’t fall into the retirement category, feels luxurious and is centrally located.
“We are typically attracting middle-aged and upwards couples or individuals, keen to move on from the maintenance associated with their family homes, once younger family members move on.
“These homes are designed for this very specific audience, fulfilling a niche space within the housing market and giving purchasers the opportunity to live independently for as long as possible.
“It’s great to see our schemes attract sell out status almost straight away. The business is growing at a considerable rate and we currently have an additional 12 sites in the development phase which will all become live in the year ahead.”